Monaco-based tanker owner Scorpio Tankers has entered into sale and leaseback agreements with an unnamed financial institution for four more product tankers. The four vessels are composed of two MR product tankers, STI Gramercy and STI Queens, and two LR2 product tankers, STI Oxford and STI Selatar.

The vessels will be bareboat chartered in for seven years at US$7,935 per day for each MR and US$11,040 per day for each LR2.

Scorpio has the option to buy back the vessels at the end of the third year of each agreement, and there is obliged to repurchase the ships upon expiration of each deal.