On September 30, 2025, Scorpio Tankers Inc. announced today that it has entered into agreements to sell two 2019‑built scrubber‑fitted LR2 product tankers, STI Lobelia and STI Lavender, each for $61.2 million. The sales are expected to close in the fourth quarter of 2025, providing a combined $122.4 million in proceeds.
The proceeds will reduce the company’s net debt to zero on a pro‑forma basis, bringing net debt from $131 million to $0. This move strengthens the firm’s liquidity position, which already includes $1.4 billion in total liquidity—$472 million in cash and $834 million in undrawn revolving credit—while supporting its broader deleveraging program that has cut net debt by $2.5 billion since 2021.
The divestitures are part of Scorpio Tankers’ ongoing strategy to maintain a modern, efficient fleet of 99 product tankers (38 LR2s, 47 MR, and 14 Handymax) and to generate capital for opportunistic share repurchases and strategic investments such as its stake in DHT Holdings.
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