Bank of America Downgrades Scorpio Tankers (STNG) as Freight Rates Near Peak Levels

Core Viewpoint - Scorpio Tankers Inc. has been downgraded by Bank of America due to expectations that freight rates are nearing peak levels, which could impact future earnings and market dynamics [2] Financial Position - As of January 9, 2026, Scorpio Tankers reported having $783.9 million available under its revolving credit facilities [3] - The company has been actively managing its debt and liquidity, indicating a strategic approach to financial stability [3] Asset Management - Scorpio Tankers has sold its remaining 3,551,794 shares in DHT Holdings at an average price of $13.40 per share [4] - The company completed the sale of the 2020-built MR tanker STI Maestro for $42.0 million and three 2014-built MR tankers for $32.0 million each [4] - In December 2025, Scorpio closed deals selling the 2014-built MR tanker STI Yorkville for $32.0 million and the 2019-built LR2 tanker STI Lobelia for $61.2 million [5] Fleet Overview - Scorpio Tankers operates a fleet of 93 product tankers, including 37 LR2 vessels, 42 MR tankers, and 14 Handymax tankers, with an average fleet age of 9.8 years [5]