New York-listed shipowner Scorpio Tankers is restructuring its MR product tanker fleet, having decided to sell four existing vessels and purchase four newbuilds constructed at Chinese shipyards. The new vessels are expected to join its fleet in 2026 and 2027.
Scorpio Tankers announced on its official website that the shipowner has signed an agreement to sell four MR product tankers built in 2014 and equipped with scrubbers for $32 million each, with the transaction expected to close in the first quarter of 2026. The four vessels being sold are the STI Battery, STI Venere, STI Milwaukee, and STI Yorkville.
Meanwhile, Scorpio Tankers announced the acquisition of four MR product tankers equipped with scrubbers currently under construction at Jingjiang Nanyang Shipbuilding. Each vessel is priced at $45 million, with delivery scheduled between the second quarter of 2026 and the second quarter of 2027. Industry sources indicate these four newbuilds are resale vessels originally owned by Yangzijiang Financial Holdings.
This “sell old, buy new” strategy aligns with Scorpio Tankers’ ongoing fleet renewal program, maintaining the modern configuration of the company’s fleet while optimizing capital efficiency.
Scorpio Tankers stated: “By selling older MR product tankers and acquiring modern newbuilds equipped with scrubbers, we have significantly optimized our fleet’s age structure and overall quality with minimal incremental capital expenditure.”
Data shows that Scorpio Tankers, listed in New York, currently operates 99 MR product tankers with an average age of 9.5 years, including 38 LR2 tankers, 47 MR product tankers, and 14 Handymax tankers. The company has also been very active in the secondhand market this year, having agreed to sell 5 MR product tankers and 2 LR2 tankers.