{"id":890100,"date":"2025-09-29T06:56:58","date_gmt":"2025-09-29T10:56:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/scorpio-tankers-inc-announces-agreements-to-sell-two-lr2-product-tankers-and-an-update-on-its-outstanding-debt\/"},"modified":"2025-09-29T06:56:58","modified_gmt":"2025-09-29T10:56:58","slug":"scorpio-tankers-inc-announces-agreements-to-sell-two-lr2-product-tankers-and-an-update-on-its-outstanding-debt","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/scorpio-tankers-inc-announces-agreements-to-sell-two-lr2-product-tankers-and-an-update-on-its-outstanding-debt\/","title":{"rendered":"Scorpio Tankers Inc. Announces Agreements to Sell Two LR2 Product Tankers and an Update on its Outstanding Debt"},"content":{"rendered":"
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MONACO, Sept. 29, 2025 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE:STNG) (\u201cScorpio Tankers,\u201d or the \u201cCompany\u201d) announced today that it has entered into agreements to sell two vessels and provided an update on its outstanding debt.<\/p>\n

\n Vessel Sales<\/strong>\n <\/p>\n

The Company has recently entered into agreements to sell two 2019 built scrubber-fitted LR2 product tankers,\u00a0STI Lobelia<\/em> and STI Lavender<\/em>, for $61.2 million per vessel. The sales are expected to close within the fourth quarter of 2025.<\/p>\n

Emanuele Lauro, Chairman and Chief Executive Officer, commented “These sales offer the dual benefit of capitalizing on cyclically high secondhand vessel values while further strengthening our balance sheet. At $131 million on a pro-forma basis, the Company\u2019s net debt could reach zero in the near future, an outcome which underscores both the cash-generating power of this market and our commitment to deleveraging.\u201d<\/p>\n

\n Update on Current Liquidity and Debt<\/strong>\n <\/p>\n

The table below summarizes the Company\u2019s outstanding indebtedness as of the dates presented, and on a pro-forma basis to illustrate the impact of announced vessel sales and debt repayments that are pending closing:<\/p>\n\n\n\n\n\n\n\n\n
\n In thousands<\/em>\n <\/td>\nJune 30, 2025<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nJuly 28, 2025<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nSeptember 25, 2025<\/td>\n\u00a0<\/td>\nSeptember 25, 2025
Pro-forma*<\/td>\n<\/tr>\n
Gross debt outstanding<\/td>\n$<\/td>\n924,403<\/td>\n\u00a0<\/td>\n$<\/td>\n910,987<\/td>\n\u00a0<\/td>\n$<\/td>\n896,552<\/td>\n\u00a0<\/td>\n$<\/td>\n814,702<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\u00a0<\/td>\n471,062<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n472,727<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n605,786<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n683,417<\/td>\n<\/tr>\n
\n Net debt<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 453,341<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 438,260<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 290,776<\/strong>\n <\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 131,285<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Availability under revolving credit facilities<\/td>\n$<\/td>\n838,241<\/td>\n\u00a0<\/td>\n$<\/td>\n833,692<\/td>\n\u00a0<\/td>\n$<\/td>\n823,542<\/td>\n\u00a0<\/td>\n$<\/td>\n792,842<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

During the third quarter of 2025, the Company sold 4,778,000 common shares in DHT Holdings Inc. (\u201cDHT\u201d) at an average price of $12.50 per share. The Company currently owns 4,054,480 common shares in DHT.<\/p>\n

* Amounts reflect the balances as of September 25, 2025, adjusted for announced debt and lease repayments and net proceeds from vessel sales (after estimated selling costs) which have not yet closed. These include:<\/p>\n