Scorpio Tankers Inc.

Scorpio Tankers Inc. Announces Financial Results for the Third Quarter of 2026 and An Increase to its Quarterly Dividend

Scorpio Tankers reported Q3 2026 net income of $224.3 million ($4.60 diluted EPS), up from $84.5 million ($1.73) a year ago, driven by a stronger product tanker market and $152.6 million in vessel-sale gains. Fleet-wide daily TCE rose to $37,508 from $26,231 a year earlier, with LR2 spot earnings of $55,184/day; Q4 bookings to date show LR2 pool/spot TCE of $181,000/day. The board raised the quarterly dividend 67% to $0.75 per share, payable December 4 to holders of record November 13. The company holds $2.1 billion in unrestricted cash against $655 million of gross debt (a ~$1.4 billion net cash position), is buying 17 newbuildings including its first VLCCs, and retains $445 million of buyback capacity.

•11d ago

Scorpio Tankers Inc. Announces Agreements to Sell Three Product Tankers and Purchase Four Newbuilding Vessels

Scorpio Tankers agreed to sell three scrubber-fitted product tankers — STI Dama, STI Elysees and STI Veneto — for a combined $180.5 million, with closings expected before end of 2026. The company also signed for four newbuildings: two LR2s at $72.8 million each at Jiangsu Hantong (deliveries Oct-Nov 2029) and two VLCCs at $135.0 million each at Hengli Shipbuilding (deliveries Sep-Oct 2028), a total commitment of roughly $415.6 million. The transactions shift the fleet younger and add crude-carrying VLCC exposure, implying net new capex of about $235 million before financing is detailed.

•1mo ago

Scorpio Tankers Inc. Announces Updates on Third Quarter 2026 TCE Rates and Time Charter-Out Agreements

Scorpio Tankers updated Q3 2026 average daily TCE rates: LR2s are earning $64,900/day in pools and spot markets, with MRs at $30,000/day and Handymaxes at $25,500/day, covering 70-85% of expected revenue days. The company also fixed three vessels on three-year time charters out: LR2s STI Gladiator at $40,188/day and STI Jermyn at $42,500/day (both commencing September 2026) and MR STI Pontiac at $23,900/day (commencing Q4 2026). Management estimated fully diluted weighted average shares of 54.5-55.5 million for Q3, reflecting the 1.75% convertible senior notes due 2031 issued in April and May 2026 under the if-converted method. The takeaway is twofold: current spot product-tanker rates are strong, and the multi-year charters trade some spot upside for contracted revenue visibility across three vessels.

•2mo ago

Scorpio Tankers Inc. Announces Financial Results for the Second Quarter of 2026 and the Declaration of a Dividend

Scorpio Tankers reported a record Q2 2026 with net income of $387.5 million, or $7.37 per diluted share, a significant increase from $73.5 million in the prior year. The performance was driven by a surge in Time Charter Equivalent (TCE) revenue to $391.8 million, fueled by elevated daily rates linked to market disruptions in the Middle East. The company declared a $0.45 per share dividend and ended the quarter with $2.0 billion in unrestricted cash after repaying $389.1 million in debt and selling vessels for over $465 million.

•3mo ago

Scorpio Tankers Inc. Announces Redemption of Nordic Bonds and a New Credit Facility

Scorpio Tankers announced the redemption of its 7.5% Senior Unsecured Notes due 2030, with a principal amount of $200 million, at a make-whole price of 106.4% of par plus accrued interest. Simultaneously, the company secured a new $90 million credit facility from Standard Chartered Bank and DekaBank, carrying an interest rate of SOFR plus 1.20% to finance four newbuilding MR tankers. The new facility matures seven years from each vessel's delivery and is expected to close in Q3 2026.

•4mo ago

Scorpio Tankers Inc. Announces Agreements to Sell Four LR2 Product Tankers, a Letter of Intent to Purchase Two Newbuilding MRs and its Intention to Repay All Secured Debt Due 2028

Scorpio Tankers agreed to sell four LR2 product tankers for $285.8 million and signed a letter of intent to buy two new scrubber-fitted MR tankers at $46.25 million each. The company intends to use the proceeds to prepay $367.8 million in secured debt maturing in 2028, effectively retiring five credit facilities and canceling undrawn revolver capacity. This move significantly de-levers the balance sheet ahead of the 2028 maturity wall while upgrading the fleet with newer, compliant vessels expected in 2030.

•5mo ago

Scorpio Tankers Inc. Prices Reopening of 1.75% Convertible Senior Notes due 2031 and Concurrent Stock Repurchase

Scorpio Tankers priced a $200 million convertible senior notes offering, upsized from $150 million, with gross proceeds of $220.5 million. The company also repurchased 649,427 shares of its common stock at $84.69 per share, using $55 million of the offering proceeds. The notes bear 1.75% interest and are convertible at a rate of 9.9615 shares per $1,000 principal, with a conversion price of $100.39 per share.

•6mo ago

Scorpio Tankers Inc. Announces Financial Results for the First Quarter of 2026, the Declaration of a Dividend and an Increase to its Securities Repurchase Program

Scorpio Tankers reported a exceptional Q1 2026 with net income of $216.3 million, a significant jump from $58.2 million in the prior year, driven by a 48% increase in TCE revenue to $303.0 million. The board declared a quarterly dividend of $0.45 per share and replenished its securities repurchase program with a $500 million authorization, reflecting robust liquidity of $1.4 billion. Operationally, the company capitalized on a stronger product tanker market, with average daily TCE rates rising to $37,697 from $23,971 year-over-year.

•6mo ago

Scorpio Tankers Inc. Announces New Credit Facility

Scorpio Tankers secured a $50 million credit facility commitment from Bank of America to finance two 2015-built LR2 product tankers, the STI Rose and STI Alexis. The facility carries a seven-year maturity and an interest rate of SOFR plus 1.20% per annum, with terms similar to the company’s existing credit agreements. The transaction is subject to customary conditions and is expected to close during the second quarter of 2026.

•6mo ago