Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced that it has entered into agreements to sell two vessels and a new time charter-out agreement.

Vessel Sales

The Company has recently entered into agreements to sell two 2014 built scrubber fitted MR product tankers, STI San Antonio and STI Texas City, for $42.5 million per vessel. These sales are expected to close within the fourth quarter of 2024.

Time Charter-Out Agreement

The Company has entered into a three-year time charter-out agreement for the 2018 built MR product tanker, STI Jardins, for $29,550 per day. This vessel is not scrubber-fitted. The charterer is an oil major and the time charter is expected to commence within the third or fourth quarter of 2024.

About Scorpio Tankers Inc.

Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 104 product tankers (39 LR2 tankers, 51 MR tankers and 14 Handymax tankers) with an average age of 8.5 years. The Company has entered into agreements to sell four of its MR tankers, which are expected to close in the third and fourth quarters of 2024.

Scorpio Tankers Inc. press release