NYSE:STNGOil and Gas
Scorpio Tankers Reshapes Fleet And Cuts Debt With LR2 Sales
Scorpio Tankers (NYSE:STNG) plans to sell four LR2 product tankers from its fleet.
The company is also considering an order for two new MR product tankers equipped with exhaust gas scrubbers.
Management intends to use the proceeds from the LR2 sales for early repayment of debt.
Scorpio Tankers operates in the product tanker market, moving refined petroleum products and related cargoes. Shipping companies have been adjusting fleets as regulations on emissions, fuel efficiency, and vessel...