Scorpio Tankers Inc. Announces Agreements to Sell Three Product Tankers and Purchase Four Newbuilding Vessels
The three sales are expected to close before the purchased vessels are delivered in 2028 and 2029.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Scorpio Tankers (STNG) agreed to sell three product tankers and purchase four newbuilding vessels under separate agreements.
The sales are priced at $37.5 million for STI Dama, $70.0 million for STI Elysees and $73.0 million for STI Veneto, with closings expected before the end of 2026. The purchases comprise two LR2 tankers at $72.8 million each, expected in October and November 2029, and two VLCCs at $135.0 million each, expected in September and October 2028.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointSTI Dama sale agreed at $37.5 million, with closing expected before the end of 2026.
- Moderate pointSTI Elysees sale agreed at $70.0 million, with closing expected before the end of 2026. 1.7% of market cap
- Moderate pointSTI Veneto sale agreed at $73.0 million, with closing expected before the end of 2026. 1.8% of market cap
- Moderate pointTwo new LR2 tankers agreed for purchase, with deliveries expected in October and November 2029.
- Moderate pointTwo new VLCCs agreed for purchase, with deliveries expected in September and October 2028.
Negative
- Moderate pointTwo VLCC purchases carry a price of $135.0 million per vessel.
- Moderate pointTwo LR2 purchases carry a price of $72.8 million per vessel.
Key Figures
- STI Dama sale price
- $37.5 million
- 2014-built MR product tanker
- STI Elysees sale price
- $70.0 million
- 2014-built LR2 product tanker
- STI Veneto sale price
- $73.0 million
- 2015-built LR2 product tanker
- Expected sales closing
- Before the end of 2026
- Three product tanker sales
- LR2 newbuilding price
- $72.8 million per vessel
- Two LR2 product tankers
- LR2 delivery
- October and November 2029
- Expected delivery timing
- VLCC newbuilding price
- $135.0 million per vessel
- Two VLCCs
- VLCC delivery
- September and October 2028
- Expected delivery timing
Key Terms
vlcc technical
scrubber-fitted technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
MONACO, Sept. 29, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers,” or the “Company”) announced today 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
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
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. Additional information about the Company is available at the Company's website www.scorpiotankers.com. Information on the Company’s website does not constitute a part of and is not incorporated by reference into 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, 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, the impact of the current and future sanctions that may impact the transportation of petroleum products, the ongoing military conflict in Iran which has had a significant direct and indirect impact on the trade of crude oil and refined petroleum products, potential disruption of shipping routes due to accidents or political events, potential liability from pending or future litigation, general domestic and international political conditions, which have and may continue to disrupt certain global shipping routes, vessel 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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