Scorpio Tankers Sells LR2 Vessel for $57.5 Million
In a strategic move, Monaco-based Scorpio Tankers has announced the sale of its LR2 product tanker, the STI Kingsway, for $57.5 million to an undisclosed buyer. The transaction, which is expected to close in the first or second quarter of 2026, reflects the company’s ongoing adjustments within its fleet. Following this sale, Scorpio Tankers will operate a total of 92 product tankers, including various classes and sizes.
Fleet Composition and Future Plans
Scorpio Tankers, listed on the New York Stock Exchange, operates a diverse fleet that includes 36 LR2s, 42 medium-range (MR) tankers, and 14 handymax vessels. The average age of their fleet stands at 9.8 years, showcasing a relatively modern lineup. This sale comes as Scorpio Tankers continues to refine its operations and expand its capabilities. In addition to divesting the STI Kingsway, the company has secured agreements for four new MR tankers. Furthermore, they are set to add a pair of very large crude carriers (VLCCs) and LR2s, which are scheduled for delivery between 2026 and the second half of 2028.
These strategic acquisitions and sales underline Scorpio Tankers‘ commitment to maintaining a competitive edge in the product carrier market. The company aims to optimize its fleet composition, ensuring it meets the evolving demands of the shipping industry while also emphasizing sustainability through the inclusion of scrubber-fitted vessels.
