Core Viewpoint - Scorpio Tankers Inc. has signed letters of intent to construct two Very Large Crude Carriers (VLCCs) at a price of $128 million each, with expected deliveries in late 2028, reflecting a strong long-term outlook for the crude tanker market [1][3]. Company Developments - The company has sold 2,382,226 common shares of DHT Holdings Inc. at an average price of $13.25 per share, retaining ownership of 1,169,568 shares as of the press release date [2]. - Scorpio Tankers currently owns or finances 98 product tankers, including 38 LR2, 46 MR, and 14 Handymax tankers, with an average age of 9.6 years [3]. - The company has agreements to sell four MR and two LR2 product tankers, expected to close in Q4 2025 and Q1 2026, and has four MR newbuildings under construction for delivery in 2026 and 2027 [3]. Market Outlook - The CEO expressed confidence in the fundamentals of the crude tanker market, indicating that the newbuilding agreements are a strategic extension of the company's positive outlook [3].

Core Viewpoint - Scorpio Tankers Inc. is strategically enhancing its fleet by selling older MR product tankers and acquiring new scrubber-fitted MR newbuildings, which is expected to improve the fleet's age profile and quality while minimizing capital expenditure [4]. Vessel Sales - The company has agreed to sell four 2014 built scrubber-fitted MR product tankers for $32.0 million each, with the sales expected to close in the first quarter of 2026 [2]. - Each of these vessels has an outstanding debt of $7.3 million, financed through the company's 2023 $225.0 million Revolving Credit Facility [2]. Newbuilding MRs - Scorpio Tankers has committed to purchasing four scrubber-fitted MR newbuildings at a price of $45.0 million each, with deliveries scheduled for 2026 and 2027 [3]. - The expected delivery timeline includes one vessel in the second and third quarters of 2026, and one vessel in the first and second quarters of 2027 [3]. Company Overview - Scorpio Tankers Inc. operates a fleet of 99 product tankers, including 38 LR2 tankers, 47 MR tankers, and 14 Handymax tankers, with an average fleet age of 9.6 years [4]. - The company has also entered into agreements to sell five MR and two LR2 product tankers, with expected closures in the fourth quarter of 2025 and the first quarter of 2026 [4].