Scorpio Tankers signed its second sales-leaseback deal with a major Chinese lessor which will take five tankers off the company's balance sheet.
In return, Scorpio pays down about $116m of its debt outstanding to two European banks and adds $21m in cash to its liquidity.
The Emanuele Lauro-led company signed the deal with Bank of Communications Financial Leasing.
BoCom will take ownership of five 2012-built tankers, the STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx.
