Welcome to our dedicated page for Scorpio Tankers news (Ticker: STNG), a resource for investors and traders seeking the latest updates and insights on Scorpio Tankers stock.
Scorpio Tankers Inc (NYSE: STNG) provides specialized marine transportation services for refined petroleum products and crude oil worldwide. This news hub offers investors and industry professionals centralized access to official updates and market-relevant developments.
Track critical updates including quarterly earnings, fleet modernization initiatives, and strategic partnerships. Our curated collection ensures timely access to operational milestones and regulatory filings essential for informed analysis of this maritime transport leader.
Key updates cover vessel acquisitions, charter rate trends, and sustainability efforts tied to STNG's eco-friendly fleet. Bookmark this page for efficient monitoring of market positioning and operational strategies in the evolving energy logistics sector.
Scorpio Tankers (NYSE: STNG) announced the acquisition of 100,000 shares by Scorpio Services Holdings Limited at an average price of $12.67. The company operates a fleet of 134 tankers with an average age of 4.7 years, focusing on the transportation of petroleum products worldwide. Scorpio Tankers emphasizes its strategic positioning in the maritime industry, although it notes potential risks including market fluctuations and operational challenges stemming from the COVID-19 pandemic. Investors are advised to consider these factors, along with the company's growth strategies.
Scorpio Tankers (NYSE: STNG) reported a strong financial performance for Q2 2020, achieving a net income of $143.9 million or $2.63 per share, contrasting with a net loss of $29.7 million in Q2 2019. For the six months ended June 30, 2020, net income reached $190.6 million or $3.48 per share. The company declared a quarterly cash dividend of $0.10 per share, payable September 29, 2020. Notably, net debt decreased by $228.8 million to $2.9 billion. Average daily Time Charter Equivalent revenue for Q2 2020 was strong, highlighting the company's operational resilience amid ongoing market volatility.
Scorpio Tankers (NYSE: STNG) will release its Q2 2020 earnings on August 6, 2020, accompanied by a conference call at 9:30 AM EDT. Investors can join via a US/Canada dial-in number or an international number, and a live webcast will be available on the company's website. Scorpio Tankers operates a fleet of 134 tankers with a weighted average age of 4.7 years, providing marine transportation of petroleum products globally. The company emphasizes its commitment to transparent communication during earnings announcements.
On July 14, 2020, Scorpio Tankers announced that Scorpio Services Holdings Limited purchased 100,000 common shares in the open market at an average price of $12.83 per share. Additionally, President Robert Bugbee acquired call options on 550,000 common shares for $2.1 million, with options set to expire in January 2021 and January 2022, at strike prices of $15.00 and $18.00, respectively. The company operates a fleet of 135 tankers and is focused on petroleum product transportation worldwide.
Scorpio Tankers (STNG) provided an update on estimated average daily Time Charter Equivalent (TCE) revenue for its vessels. For the quarter ending June 30, 2020, the estimated TCE revenue for LR2, LR1, MR, and Handymax are $47,000, $35,500, $21,700, and $17,500 respectively. For the following quarter, these figures drop significantly, with LR2 at $29,300 and LR1 at $28,700. This decline reflects a notable decrease in charter revenue, with only 26% of LR2 days booked for the upcoming quarter.
The company's fleet consists of 137 tankers, with a focus on petroleum products.
Scorpio Tankers (NYSE: STNG) has priced a public offering of $25 million in fixed rate senior unsecured notes due 2025, bearing interest at 7.00% per annum. The notes will mature on June 30, 2025, with redemption options starting June 30, 2022. Proceeds will be used for general corporate purposes and working capital. The offering is expected to close on May 29, 2020. The company also plans to list the notes on the NYSE under the symbol 'SBBA.'
Scorpio Tankers (NYSE: STNG) announced a public offering of fixed-rate senior unsecured notes due 2025, aiming to raise capital for general corporate purposes. The notes will be offered in minimum denominations of $25.00, with trading expected on the NYSE under the symbol SBBA within 30 days of issuance. Major underwriters for this offering include B. Riley FBR, Ladenburg Thalmann, and others. The offering is backed by a shelf registration statement effective with the SEC. This initiative aims to bolster liquidity amid market fluctuation.
Scorpio Tankers (NYSE: STNG) announced the closure of a $225 million credit facility with European financial institutions. This facility comprises a $150 million term loan and a $75 million revolving credit. Proceeds will refinance existing debt on nine vessels. The loan has a five-year maturity, with quarterly repayments and a balloon payment at maturity, and follows similar terms to current credit facilities. The company operates a fleet of 137 product tankers, averaging 4.6 years in age.
Scorpio Tankers reported that Scorpio Services Holding Limited purchased 100,000 common shares at an average price of $17.36 each. The total shares outstanding are 58,672,080, with the Scorpio Group owning 2,657,839 shares, representing 4.5%. The company operates a fleet of 137 product tankers globally, averaging 4.6 years in age, and holds a leasehold interest in an MR tanker under construction.
Scorpio Tankers Inc. (NYSE: STNG) reported a strong first-quarter 2020 performance with a net income of $46.6 million or $0.85 per share, up from $14.5 million or $0.30 per share in Q1 2019. The company's average daily Time Charter Equivalent (TCE) revenue rose to $22,644 from $18,570 year-over-year, driven by favorable supply-demand dynamics and an increase in operating vessels. A quarterly cash dividend of $0.10 per share was also declared. However, the ongoing impact of COVID-19 on oil demand poses uncertainties for future performance.