Recent Updates — STNG

Scorpio Tankers Inc. reported a third-quarter net income of $224.3 million, or $4.91 basic EPS, driven by stronger product tanker rates and gains on vessel sales. Adjusted net income was $127.4 million. The board declared a quarterly cash dividend of $0.75 per share, payable December 4 to record holders as of November 13. The company also announced newbuilding orders for eight LR2s, five MRs, and four VLCCs, alongside the sale of three older vessels totaling $180.5 million. Scorpio Tankers operates a fleet of product tankers and crude carriers in the global shipping industry.

Scorpio Tankers Inc. announced that Ms. Charlotte Wheatcroft has been appointed as the company's secretary, effective October 7, 2026. She succeeds Ms. Auste Adelborg, who resigned from the role on the same date. The filing states that Adelborg’s resignation was not due to any dispute with the corporation. Wheatcroft is a Chartered Company Secretary and senior corporate governance executive with prior experience as Company Secretary and Head of HR at a London-based sovereign wealth investment group. She holds an LLB (Hons) and an LLM from The University of Manchester and is a Fellow of the Chartered Governance Institute UK & Ireland. Scorpio Tankers Inc. operates in the maritime shipping industry, specializing in the ownership and operation of crude oil tankers.

Scorpio Tankers Inc. announced agreements to sell three product tankers and purchase four newbuilding vessels. The company will sell the 2014-built STI Dama for $37.5 million, the 2014-built STI Elysees for $70.0 million, and the 2015-built STI Veneto for $73.0 million, with closings expected before the end of 2026. Simultaneously, Scorpio Tankers will purchase two scrubber-fitted LR2 product tankers at $72.8 million each (deliveries in October and November 2029) and two scrubber-fitted VLCCs at $135.0 million each (deliveries in September and October 2028). Scorpio Tankers Inc. operates in the marine transportation industry, providing worldwide petroleum product shipping services.

Scorpio Tankers Inc. announced third quarter 2026 average daily Time Charter Equivalent (TCE) rates and entered into agreements to time charter out three product tankers. For LR2 vessels, the average daily TCE revenue was $64,900 over 1,249 expected revenue days, with spot market charters at $30,800 per day. MR vessels generated an average daily TCE of $30,000 over 3,058 days, including spot rates of $28,000 and bareboat charter-out revenue of $12,986 for 91 days. Handymax vessels averaged $25,500 per day over 1,183 days. The company time charted out two LR2 tankers, STI Gladiator and STI Jermyn, for three years at $40,188 and $42,500 per day respectively, commencing in September 2026. One MR tanker, STI Pontiac, was time charted out for three years at $23,900 per day, commencing in the fourth quarter of 2026. The company estimates fully diluted weighted average shares outstanding between 54.5 and 55.5 million for the period. Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide.

Scorpio Tankers Inc. reported net income of $387.5 million for the second quarter ended June 30, 2026, driven by a $154.1 million gain on vessel sales and significantly higher Time Charter Equivalent revenues of $391.8 million compared to $222.8 million in the prior year period. The company declared a quarterly cash dividend of $0.45 per common share, payable August 31, 2026, to shareholders of record as of August 17, 2026. During the quarter, Scorpio Tankers issued $605 million in convertible senior notes due 2031 and redeemed its $200 million Unsecured Senior Notes Due 2030 at a make-whole price of 106.4 to par. The firm also sold five vessels for $320.8 million, repurchased nearly 2 million shares under its securities repurchase program, and signed letters of intent or agreements to acquire newbuilding tankers totaling over $250 million in purchase price commitments.