Scorpio Tankers Inc. Announces a Vessel Sale Agreement
Scorpio Tankers (NYSE:STNG) entered into an agreement to sell the 2015-built scrubber-fitted LR2 product tanker STI Kingsway for $57.5 million.
Rhea-AI Summary
Scorpio Tankers (NYSE:STNG) entered into an agreement to sell the 2015-built scrubber-fitted LR2 product tanker STI Kingsway for $57.5 million. The company expects the sale to close within the first or second quarter of 2026. The transaction represents a vessel disposal at an agreed fixed price and is subject to customary closing conditions.
Details
News Market Reaction – STNG
On Jan 12, the day this news came out, STNG closed 0.22% above the previous close.
Data tracked by StockTitan Argus for the Jan 12 session.
Key Figures
- Vessel sale price
- $57.5 million
- Sale of 2015-built scrubber-fitted LR2 product tanker STI Kingsway
- Vessel build year
- 2015
- Build year of LR2 product tanker STI Kingsway being sold
- Expected closing window
- Q1–Q2 2026
- Sale of STI Kingsway expected to close in first or second quarter 2026
Historical Context
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Five-year time charters for two LR2 vessels at fixed daily rates.
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Sale of two LR2 tankers and purchase of two scrubber-fitted LR2 newbuildings.
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Letters of intent to construct two VLCCs and partial sale of DHT stake.
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Agreements to sell four MR tankers and buy four MR newbuildings.
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Q3 2025 results with higher dividend and details on cash, debt, and prepayments.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
scrubber-fitted technical
LR2 product tanker technical
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MONACO, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced today that it has entered into an agreement to sell the 2015 built scrubber-fitted LR2 product tanker, STI Kingsway. The selling price is
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 93 product tankers (37 LR2 tankers, 42 MR tankers and 14 Handymax tankers) with an average age of 9.8 years. The Company has entered into agreements to sell four LR2 product tankers (including the vessel announced in this release) which are expected to close in the first or second quarter of 2026. The Company has also reached agreements for four MR newbuildings that are currently under construction with deliveries expected in 2026 and 2027, two VLCC newbuildings with deliveries expected in the second half of 2028, and two LR2 newbuildings with deliveries expected in the third quarter of 2027. Additional information about the Company is available at the Company’s website www.scorpiotankers.com, which is not a part of this press release.
Forward-Looking Statements
Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "expect," "anticipate," "estimate," "intend," "plan," "target," "project," "likely," "may," "will," "would," "could" and similar expressions identify forward‐looking statements.
The forward‐looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.
In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies in response to epidemics and other public health concerns including any effect on demand for petroleum products and the transportation thereof, expansion and growth of the Company’s operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including the impact of the conflict in Ukraine and the developments in the Middle East, including the armed conflict between Israel and Hamas, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off‐hires, and other factors. Please see the Company’s filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties.
Contact Information
Scorpio Tankers Inc.
James Doyle – Head of Corporate Development & Investor Relations
Tel: +1 203-900-0559
Email: investor.relations@scorpiotankers.com
FAQ
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