Scorpio Tankers Inc. Announces Vessel Sale Agreements and Time Charter-Out Agreements

Core Viewpoint - Scorpio Tankers Inc. has announced agreements to sell three product tankers and time charter-out two product tankers, indicating a strategic move to optimize its fleet and financial position [1]. Vessel Sales - The company has entered into agreements to sell two 2015 built scrubber-fitted MR product tankers, STI Seneca and STI Osceola, for $35.0 million each, and a 2015 built scrubber-fitted LR2 product tanker, STI Solidarity, for $60.0 million. The sales are expected to close within the first or second quarter of 2026 [2]. - These vessels are currently financed under the company's 2023 $1.0 billion credit facility, with an aggregate outstanding debt balance of $20.2 million [2]. Time Charter-Out Agreements - The company has entered into agreements to time charter-out two LR2 product tankers, STI Lombard and STI Rambla. The charter for STI Lombard is for five years at a rate of $33,000 per day, while the charter for STI Rambla is for eight years at a rate of $30,500 per day. These charters are expected to commence in the first or second quarter of 2026 [3]. Company Overview - Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide, currently owning 90 product tankers, which include 34 LR2 tankers, 42 MR tankers, and 14 Handymax tankers, with an average age of 10.1 years [4]. - The company has agreements to sell two LR2 product tankers and two MR product tankers, with expected closure in the first or second quarter of 2026. Additionally, it has agreements for four MR newbuildings under construction, with deliveries expected in 2026 and 2027, four LR2 newbuildings with deliveries expected in 2027 and 2029, and two VLCC newbuildings with deliveries expected in the second half of 2028 [4].