Scorpio Tankers is exercising purchase options on six vessels it has under lease.

Scorpio Tankers is repurchasing six vessels it previously sold under sale and leaseback arrangements.

The flows of tanker cargo have already been changed by the Ukraine war, now in its third month, with additional shifts, possibly of the “tectonic” variety, on the horizon.

With earnings reports for 2021’s Q1 now being released, names in the tanker space, a laggard compared to other sectors, have seen scrutiny from analysts and investors.

Scorpio Tankers is strengthening its balance with a sale and leaseback deal for five vessels with China’s AVIC International Leasing.

Scorpio Tankers Inc. has entered into a sale-and-leaseback deal with China’s Bank of Communications Financial Leasing (Bocomm Leasing) for five secondhand MR product tankers.

The acquisition of Navig8 Product Tankers will make Scorpio Tankers the world’s third largest tanker owner by fleet value.