Scorpio Tankers Sells Four Vessels to Torm
In a significant move within the maritime industry, Scorpio Tankers has finalized the sale of four mid-range product tankers to Danish shipping company Torm. The Monaco-based firm, led by Emanuele Lauro, announced the agreements on Friday, revealing each tanker—STI Battery, STI Venere, STI Milwaukee, and STI Yorkville—will be sold for approximately $32 million. These transactions are expected to be completed in the first quarter of 2026.
Details of the Transaction
On Thursday, Torm disclosed that it had signed contracts to acquire four 2014-built MR tankers, marking a strategic step in its ongoing fleet renewal efforts. Brokers later confirmed the connection between the two announcements, identifying Torm as the buyer of the vessels previously owned by Scorpio Tankers. This acquisition aligns with Torm’s focus on modernizing its fleet, particularly in light of strong earnings and stable asset prices in the mid-range product tanker segment.
This sale marks yet another chapter in a busy year for Torm, which has actively adjusted its fleet composition in response to market conditions. The firm is taking advantage of robust demand in the MR category, demonstrating a keen awareness of the evolving dynamics in the shipping industry. As asset prices remain firm, Torm’s strategic acquisitions could bolster its competitive edge in the market, further enhancing its operational capabilities.
With these transactions, Scorpio Tankers continues to streamline its operations, while Torm positions itself for future growth within the sector. The maritime community will be watching closely as both companies navigate these developments in the coming months.
