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Scorpio Tankers sells more vessels to lease them back

The tanker carrier led by Robert Bugbee has made yet another sale of vessels, which will be leased back immediately. Get an overview of the various agreements the carrier has made in the past few months here.

Photo: Scorpio Tankers/PR

Scorpio Tankers is yet again selling-off vessels in order to immediately lease them back in a so-called sale-and-lease-back transaction.

This time, the company is selling six product tanker vessels and a single LR2 vessel to an "international financial institution", as evident in a statement from the Robert Bugbee-led carrier. With the sale, the company's liquidity is expected to rise to USD 42 million after paying outstanding debts.

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