Monaco - March 13, 2023
Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers" or the "Company") announced today that it has exercised the purchase options on six ships.
The Company has given notice to exercise its purchase options on two 2016 built LR2 product tankers (STI Grace and STI Jermyn), one 2019 built LR2 product tanker (STI Lavender), two 2019 built MR product tankers (STI Magnetic and STI Marshall) and one 2020 built MR product tanker (STI Miracle).
The leases bear interest at LIBOR plus a margin of 3.50% per annum. The purchase, which is expected to occur in May 2023, will result in a debt reduction of $149.8 million for the Company.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide.
Scorpio Tankers Inc. currently owns, finance leases or bareboat charters-in 113 product tankers (39 LR2 tankers, 60 MR tankers and 14 Handymax tankers) with an average age of 7.1 years.
Additional information about the Company is available at the Company's website www.scorpiotankers.com, which is not a part of this press release.
Scorpio Tankers Inc. press release