Vessel Sales

The Company has entered into agreements to sell three product tankers comprising the 2014 built scrubber-fitted MR product tanker, STI Dama, for $37.5 million, the 2014 built scrubber-fitted LR2 product tanker, STI Elysees, for $70.0 million, and the 2015 built scrubber-fitted LR2 product tanker, STI Veneto, for $73.0 million. The sales are expected to close before the end of 2026.

Newbuilding Vessel Purchases

The Company has entered into agreements to purchase four newbuilding vessels comprising two scrubber-fitted LR2 product tankers and two scrubber-fitted VLCCs. The LR2s are expected to be constructed at Jiangsu Hantong Ship Heavy Industry Co., Ltd. in China for $72.8 million per vessel with deliveries expected in October and November 2029. The VLCCs are expected to be constructed at Hengli Shipbuilding (Dalian) Co., Ltd. for $135.0 million per vessel with deliveries expected in September and October 2028.