Scorpio Tankers offloads modern MR for $42m
Scorpio Tankers Sells STI Maestro for $42 Million
Scorpio Tankers, based in Monaco, has finalized a significant deal to sell one of its modern Medium Range (MR) product carriers. The company is parting ways with the 2020-built STI Maestro for $42 million, with the transaction anticipated to close by the end of the fourth quarter. The buyer has not been disclosed, although market speculations point to Vasileiadis-led Venergy Maritime, a rising Greek tanker firm.
Details of the Sale
The STI Maestro sale marks another strategic move for Scorpio Tankers, which is listed on the New York Stock Exchange. The vessel, equipped with a scrubber, was acquired in 2023 as part of a five-ship buyout from a Chinese lessor. This sale comes at a time when Scorpio Tankers continues to expand its fleet, which currently comprises 99 vessels, including 38 LR2s, 47 MRs, and 14 handymax units. The average age of the fleet stands at 9.5 years.
Brokers have speculated that Venergy Maritime is the likely buyer, as the company has been active in the market recently. Earlier this year, Venergy Maritime purchased two 2018-built MR vessels from Italy’s Premuda for approximately $75 million and has also secured four new product carrier builds at K Shipbuilding in South Korea. This growth strategy emphasizes Venergy Maritime’s ambitions in the competitive tanker sector.
As Scorpio Tankers proceeds with the sale of the STI Maestro, the industry watches closely, noting the evolving dynamics within the maritime transport market. The successful transaction highlights Scorpio Tankers’ ability to leverage its assets while exploring opportunities for growth and fleet modernization.
