STI ROSE

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Crew members requested repatriation from Shanghai

18 crew members of the 'STI Rose' have requested replacement and repatriation from Shanghai, where the tanker was being docked for repairs at the Jiangsu New Century Shipbuilding yard since Feb 2, 2020. The21 crew members included 10 Russians, 10 Filipinos and one Greek. Russian sailors also contacted the Russian General Consular in Shanghai, with the same request. Shanghai isn’t listed in the red-hot zones stricken by coronavirus epidemics, and according to consular and ship’s Greek management, there was no clear and present danger of infection. The sailors, however, were insisting on repatriation. The crew didn’t get enough supplies of face masks, they have been provided with only 100 masks, while each such mask should be replaced with new one each two hours, so the crew wasn’t protected by masks for quite some time already. Russian authorities, therefore, rejected the repatriation. They turned to ITF, but with the same result. Presently, the crew was banned from shore leaves.

Sold

Scorpio Tankers have agreed to sell and leaseback the following MR and LR tankers to AVIC Leasing "STI Fontvieille" 50/2013 Hyundai Mipo, "STI Brooklyn" 49/2015 SPP, "STI Rose" 109/2015 Daehan & "STI Rambla" 109/2017 Sungdong. Scorpio will bareboat charter-in the vessels for a period of 8 years with purchase options beginning at the end of the second year.

Scorpio Tankers announces sale and leaseback agreements for five product tankers

Scorpio Tankers Inc. has agreed to sell and leaseback three MR product tankers (STI Ville, STI Fontvieille and STI Brooklyn) and two LR2 product tankers (STI Rose and STI Rambla) to AVIC International Leasing Co., Ltd. Upon completion, the Company’s liquidity is expected to increase by $42 million in aggregate after the repayment of outstanding debt. These lease financing arrangements are part of the Company’s new financing initiatives that were announced on April 25, 2018.