Scorpio Tankers is making a decisive move to bolster cash reserves with an imminent sale of 12 LR1s to competitor Hafnia of Singapore, market sources told TradeWinds.
News of the deal began circulating through the tanker market on Wednesday. Scorpio management could not be reached for comment before TradeWinds’ deadline.
The tankers, all built in 2016 except for one 2015-built vessel, represent Scorpio's entire complement of owned LR1s.
