Scorpio Tankers, which after a long difficult period closed the second quarter with a profit, has begun expanding its fleet of product tanker vessels.

According to an announcement, Scorpio Tankers has used a purchase option for a total of eight vessels previously sold and leased back by the tanker operator.

The eight new ships are two handymaxes, four MR vessels, and two LR2 tankers. The carrier handed off the eight tankers back in 2018.

Scorpio Tankers expects the deal to fall into place in the fourth quarter this year, and furthermore that the repurchase will lead to a reduction of the company’s debt by USD 133m.

The purchase comes after a similar deal regarding six MR tankers from 2014, which was announced by Scorpio Tankers in June and completed last month. The six vessels cost of USD 95m.

English edit: Kristoffer Grønbæk

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