Complete Maritime Profile & Reviews of Sti-Rose

In a pressing development, 18 crew members aboard the oil tanker 'STI Rose' have formally requested their repatriation from Shanghai, where the vessel has been docked at the Jiangsu New Century Shipbuilding yard since February 2, 2020, for necessary repairs. The crew comprises 21 members in total, including 10 Russians, 10 Filipinos, and one Greek. In their bid to return home, the Russian sailors reached out to the Russian General Consulate in Shanghai, echoing their urgent request for replacement and repatriation. Despite Shanghai not being categorized as a high-risk zone for the coronavirus, according to both consular sources and the Greek management of the vessel, the crew remains adamant about leaving. A major concern highlighted by the crew is the shortage of face masks; they have only received 100 masks, which need to be replaced every two hours. This shortage has left them inadequately protected for extended periods. As a result, the Russian authorities have declined their repatriation request, and efforts made by the International Transport Workers' Federation (ITF) yielded the same outcome. Currently, the crew members are prohibited from going ashore, intensifying the stress and uncertainty of their situation.

Scorpio Tankers has announced a strategic agreement to sell and leaseback several of its MR and LR class tankers to AVIC Leasing. The vessels included in this deal are the 'STI Fontvieille' (IMO: 9554209), a 2013 Hyundai Mipo-built tanker; 'STI Brooklyn' (IMO: 9649581), launched in 2015 by SPP; 'STI Rose' (IMO: 9705052), constructed in 2015 at Daehan; and 'STI Rambla' (IMO: 9788310), a 2017 Sungdong model. As part of the arrangement, Scorpio Tankers will undertake a bareboat charter-in for an extended term of eight years, with options to purchase vessels starting from the conclusion of the second year. This move underscores Scorpio's focus on increasing operational flexibility while optimizing asset management.

Scorpio Tankers Inc. has made a strategic move by entering into sale and leaseback agreements for a total of five product tankers. The deal includes three Medium Range (MR) tankers - STI Ville, STI Fontvieille, and STI Brooklyn - alongside two Long Range 2 (LR2) tankers, namely STI Rose and STI Rambla. This arrangement has been finalized with AVIC International Leasing Co., Ltd., and it is projected to enhance the Company's liquidity by approximately $42 million after settling existing debts. These lease financing strategies are a key component of the new financial initiatives that Scorpio Tankers first unveiled on April 25, 2018, aimed at optimizing its operational efficiency and financial stability.