US-listed Scorpio Tankers is repurchasing another five tankers from financial leases to cut debt levels even further.
The Emanuele Lauro-led company said it has given notice to exercise purchase options on two 2020-built ships, the 47,500-dwt STI Mighty and STI Maestro, and three dating from 2019, the 50,000-dwt STI Modest and 47,500-dwt STI Maverick and STI Millennia.
The leases bear interest at Libor plus 3.5%.
