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Scorpio Tanker sells five product tankers to AVIC Leasing

New York-listed owner has entered sale-and-leaseback agreements with AVIC for three MR and two LR2 ships. Those ships are leased back on eight-year bareboat charters with purchase obligations on charter expiration

The world’s largest product tanker owner expects the deal to boost its liquidity by $42m after the repayment of outstanding debt

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