Group 1 - Scorpio Tankers Inc. has entered into agreements to time charter-out two LR2 product tankers, STI Rose and STI Alexis, for five years at a rate of $29,000 per vessel per day, expected to commence in Q1 2026 [1] - The company currently owns or leases 93 product tankers, including 37 LR2 tankers, with an average age of 9.8 years [2] - Scorpio Tankers has agreements to sell three LR2 product tankers, expected to close in Q1 2026, and has reached agreements for four MR newbuildings under construction with deliveries expected in 2026 and 2027 [2] Group 2 - The company has two VLCC newbuildings with deliveries expected in the second half of 2028 and two LR2 newbuildings with deliveries expected in Q3 2027 [2] - Additional information about the company can be found on its website [2]

Core Viewpoint - Scorpio Tankers Inc. reported a significant decline in net income for the first quarter of 2025 compared to the same period in 2024, alongside a quarterly cash dividend declaration of $0.40 per share [1][6]. Financial Performance - For the three months ended March 31, 2025, the company had a net income of $58.2 million, or $1.26 basic and $1.22 diluted earnings per share, compared to a net income of $214.2 million, or $4.29 basic and $4.11 diluted earnings per share for the same period in 2024 [2][4]. - Adjusted net income for Q1 2025 was $49.0 million, or $1.06 basic and $1.03 diluted earnings per share, excluding a $9.4 million fair value gain and a $0.3 million loss on debt extinguishment [3]. - Total vessel revenue for Q1 2025 was $213.98 million, down from $391.34 million in Q1 2024, with TCE revenue decreasing to $204.2 million from $389.76 million [27][31]. Revenue and Costs - Average daily TCE revenue decreased to $23,971 per vessel in Q1 2025 from $39,660 in Q1 2024, with the average number of vessels decreasing from 110.9 to 99.0 [27][39]. - Vessel operating costs for Q1 2025 were $70.6 million, down from $78.1 million in Q1 2024, while average daily vessel operating costs increased to $7,924 from $7,743 [27][39]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.40 per common share, with a payment date set for June 16, 2025 [6]. Debt and Liquidity - As of April 30, 2025, the company had $397.0 million in unrestricted cash and cash equivalents, and $838.2 million of undrawn revolver capacity [15]. - The company has $173.4 million available under its 2023 Securities Repurchase Program [9]. Recent Significant Events - In April 2025, the company entered into a time charter-out agreement for a Handymax product tanker at an average rate of $24,000 per day [12]. - The company redeemed $70.6 million of its Unsecured Senior Notes due 2025 and placed $200.0 million of new senior unsecured bonds due 2030 at a fixed coupon rate of 7.50% [18][17]. Drydock and Off-Hire Update - The company reported drydock activity and estimated off-hire days for Q1 2025, with actual aggregate costs of $24.7 million and 388 off-hire days [23][24].