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Scorpio Tankers to sell five MR product tankers

Scorpio Tankers Inc. announced  that it has reached an agreement with an unrelated third party to sell five of its 2014 built MR product tankers (STI Chelsea, STI Lexington, STI Mythos, STI Olivia and STI Powai,) for approximately $166.5 million in aggregate.

The sales of two of the vessels are expected to close in March 2016, and the sales of the three remaining vessels are expected to close in the second quarter of 2016.

The Company will record a write-down of approximately $3.2 million during the first quarter of 2016 in connection with the entry into this agreement.

Source:  Scorpio Tankers Inc.

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