Scorpio Tankers is said to be close to announcing it has negotiated more than $300m in additional liquidity as the result of negotiations with lenders and pending sale-leaseback deals on vessels, finance sources sell TradeWinds.

The pot of fresh funding would not coincidentally nearly match the $348.5m in outstanding convertible bonds due July 2019 that has been viewed as a major “overhang” on the share’s performance.