Scorpio Tankers Inc. (NYSE: STNG) entered into agreements to sell six product tankers for $300 million in aggregate, the company announced. The transaction includes three 2014-built LR2 product tankers for $195 million and three 2014-built MR product tankers for $105 million.

The vessels being sold are the STI Park, STI Sloane and STI Madison from the LR2 category, and the STI Aqua, STI Regina and STI Opera from the MR category. The sales are expected to close within the second quarter of 2026.

STI Park and STI Sloane have no outstanding debt, while STI Madison carries $10.7 million in debt on the company's 2023 $225 million revolving credit facility. The three MR tankers had a combined outstanding debt balance of $21.3 million on the same facility, which was repaid in April 2026.

Monaco-based Scorpio Tankers provides marine transportation of petroleum products worldwide. The company currently owns 87 product tankers consisting of 32 LR2 tankers, 41 MR tankers and 14 Handymax tankers with an average age of 10.2 years.

The company has agreements for new vessel construction including four MR newbuildings with deliveries expected in 2026 and 2027, four LR2 newbuildings with deliveries expected in 2027 and 2029, and two VLCC newbuildings with deliveries expected in the second half of 2028.