Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers,” or the “Company”) announced that it has entered into agreements to sell three product tankers and purchase four newbuilding vessels.

Vessel Sales

The Company has entered into agreements to sell three product tankers comprising the 2014 built scrubber-fitted MR product tanker, STI Dama, for $37.5 million, the 2014 built scrubber-fitted LR2 product tanker, STI Elysees, for $70.0 million, and the 2015 built scrubber-fitted LR2 product tanker, STI Veneto, for $73.0 million. The sales are expected to close before the end of 2026.

Newbuilding Vessel Purchases

The Company has entered into agreements to purchase four newbuilding vessels comprising two scrubber-fitted LR2 product tankers and two scrubber-fitted VLCCs. The LR2s are expected to be constructed at Jiangsu Hantong Ship Heavy Industry Co., Ltd. in China for $72.8 million per vessel with deliveries expected in October and November 2029. The VLCCs are expected to be constructed at Hengli Shipbuilding (Dalian) Co., Ltd. for $135.0 million per vessel with deliveries expected in September and October 2028.

About Scorpio Tankers Inc.

Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 74 product tankers (25 LR2 tankers, 35 MR tankers and 14 Handymax tankers) with an average age of 10.2 years. The Company has reached agreements or letters of intent for five MR newbuildings that are currently under construction with deliveries expected in 2027 and 2030, eight LR2 newbuildings with deliveries expected in 2027 and 2029 and four VLCC newbuildings with deliveries expected in 2028.

Scorpio Tankers Inc. press release