Scorpio Tankers Inc. Announces Updates on First and Second Quarter 2026 TCE Rates and Liquidity

Rhea-AI Summary

Scorpio Tankers (NYSE:STNG) reported updated Q1 and Q2 2026 average daily TCE rates and a liquidity update as of March 20, 2026. Q1 TCE examples: LR2 $51,000, MR $32,000, Handymax $34,000. Q2 TCE examples: LR2 $101,000, MR $36,500, Handymax $32,000.

Liquidity: Cash $974.0M (Mar 20), pro forma $1,101.8M; Total debt $589.1M (Mar 20); Net cash $384.9M (Mar 20), pro forma $512.8M. Company disclosed agreed vessel sales and newbuilding deliveries through 2029.

Positive

• LR2 TCE increased to $101,000 in Q2 2026
• MR TCE rose to $36,500 in Q2 2026
• Cash balance of $974.0M at March 20, 2026
• Pro forma net cash of $512.8M after vessel sale proceeds

Negative

• Total debt remains material at $589.1M as of March 20, 2026
• Agreed sale of three vessels will reduce owned fleet capacity when closed

News Market Reaction – STNG

+2.10%

17 alerts

+2.10% News Effect

+6.0% Peak in 24 hr 24 min

+$81M Valuation Impact

$3.94B Market Cap

0.3x Rel. Volume

On the day this news was published, STNG gained 2.10%, reflecting a moderate positive market reaction. Argus tracked a peak move of +6.0% during that session. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $81M to the company's valuation, bringing the market cap to $3.94B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

LR2 Q1 2026 pool TCE: $51,000/day LR2 Q2 2026 pool TCE: $101,000/day MR Q2 2026 pool TCE: $36,500/day +5 more

8 metrics

LR2 Q1 2026 pool TCE $51,000/day Average daily TCE revenue for LR2 in pool and spot, Q1 2026

LR2 Q2 2026 pool TCE $101,000/day Average daily TCE revenue for LR2 in pool and spot, Q2 2026 to date

MR Q2 2026 pool TCE $36,500/day Average daily TCE revenue for MR in pool and spot, Q2 2026 to date

Total debt $589,056 (thousands) Total debt outstanding at March 20, 2026

Cash balance $974,000 (thousands) Cash at March 20, 2026

Net cash $384,944 (thousands) Net cash position at March 20, 2026

Revolver availability $747,481 (thousands) Availability under revolving credit facilities at March 20, 2026

MR tanker sale price $35.0 million Sale price for each of STI Seneca and STI Osceola

Market Reality Check

Price: $73.66 Vol: Volume 1,264,437 is at 0....

normal vol

$73.66 Last Close

Volume Volume 1,264,437 is at 0.85x the 20-day average, showing no unusual activity. normal

Technical Price 75.12 is trading above the 200-day MA of 55.94, reflecting a pre-existing uptrend.

Peers on Argus

STNG was up 6.28% while key peers like INSW, TRMD, GLNG, EE and CMBT showed smal...

1 Up

STNG was up 6.28% while key peers like INSW, TRMD, GLNG, EE and CMBT showed smaller gains of about 1.8–3.5%. Momentum scanner only flagged one peer (DHT), so today’s move appears more company-specific than a broad sector rotation.

Historical Context

5 past events · Latest: Mar 20 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 20	Annual report filing	Neutral	+4.0%	Form 20-F filing and online availability of 2025 annual report.
Mar 05	Vessel sales & charters	Positive	-1.8%	Agreements to sell three tankers and charter out two LR2 vessels.
Feb 12	Earnings & dividend	Positive	-3.0%	Q4 2025 results with net income and higher quarterly dividend.
Jan 28	Earnings call notice	Neutral	+1.4%	Announcement of timing and access details for Q4 2025 call.
Jan 13	Liquidity & debt update	Positive	+9.4%	Update on liquidity, debt reduction and newbuilding commitments.

Pattern Detected

Reactions to news have been mixed: liquidity and fleet updates sometimes saw strong gains, while earnings and asset-sale announcements previously met with mild selling.

Recent Company History

Over the last few months, STNG has highlighted liquidity strengthening, vessel sales, and steady capital returns. A Jan 13 liquidity and debt update coincided with a 9.39% gain, while a Mar 5 fleet sale and time-charter release saw a modest decline. Earnings on Feb 12 with higher dividends also pulled back. Today’s TCE and liquidity update extends this focus on balance sheet strength and commercial performance.

Market Pulse Summary

This announcement details robust freight economics and a stronger balance sheet. LR2 pool TCEs reach...

Analysis

This announcement details robust freight economics and a stronger balance sheet. LR2 pool TCEs reached $101,000/day in early Q2 2026, while total debt at March 20, 2026 was $589,056 (thousands) against cash of $974,000 (thousands) and net cash of $384,944 (thousands). Prior updates have emphasized vessel sales, newbuildings, and revolving credit availability; investors may watch future TCE trends, fleet deployment, and capital allocation moves for confirmation of this trajectory.

Key Terms

time charter equivalent, bareboat charter, revolving credit facility, unsecured senior notes, +1 more

5 terms

time charter equivalent financial

"update on its first quarter and second quarter of 2026 average daily Time Charter Equivalent"

Time charter equivalent (TCE) converts the money a ship earns on specific trips into a single daily rate, so different voyages and contract types can be compared on the same scale. Think of it as translating various one-off jobs into a common “daily wage,” which matters to investors because it reveals how much a vessel or fleet is earning per day, helping assess operating profitability, cash flow and valuation across companies and market conditions.

bareboat charter financial

"Time Charters Out of the Pool | | Bareboat Charter Out of the Pool"

A bareboat charter is a leasing arrangement where one person or company rents a vessel without crew, equipment, or supplies, essentially taking full control of it as if they own it. It matters to investors because it can be used to generate income from the vessel’s use or to reduce ownership costs, influencing a company's revenue and asset management strategies.

revolving credit facility financial

"2023 $225.0 Million Revolving Credit Facility | $73,370"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

unsecured senior notes financial

"Unsecured Senior Notes Due 2030 | | 200,000"

Unsecured senior notes are loans a company sells to investors that promise regular interest and return of principal but are not backed by specific assets as collateral; they have higher repayment priority than many other debts if the company defaults. They matter to investors because they balance relatively higher claim on repayment with greater risk than secured debt, so their interest rate and recovery prospects reflect that trade-off — like holding a higher-priority IOU without a pledged safety net.

vlcc technical

"two VLCC newbuildings with deliveries expected in the second half of 2028."

A VLCC is a very large crude carrier — one of the biggest types of oil tankers used to move crude oil across oceans. Think of it as a giant delivery truck on water that carries millions of gallons of raw oil between producing regions and refineries; changes in how many VLCCs are available or how much it costs to operate them can affect shipping rates, oil supply flows and margins, and therefore the revenues and valuations of energy and shipping companies.

AI-generated analysis. Not financial advice.

MONACO, March 25, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced today an update on its first quarter and second quarter of 2026 average daily Time Charter Equivalent (“TCE”) rates, and its liquidity and outstanding debt.

First and Second Quarters 2026 TCE Rate Update

Below is a summary of the average daily TCE revenue and duration of contracted voyages and time charters for the Company’s vessels (both in the pools and outside of the pools) thus far in the first and second quarters of 2026 as of the date hereof:

First Quarter of 2026

	Pool and Spot Market											Time Charters Out of the Pool							Bareboat Charter Out of the Pool
	Average Daily TCE Revenue (1)				Expected Revenue Days (2)			% of Days				Average Daily TCE Revenue (1)				Expected Revenue Days (2)			Average Daily Revenue				Expected Revenue Days (2)		% of Days
LR2	$	51,000			2,095			97		%		$	31,000			950			$	—			—		100		%
MR	$	32,000			3,300			97		%		$	26,800			355			$	12,986			90		100		%
Handymax	$	34,000			1,160			95		%		$	23,000			89			$	—			—		100		%

Second Quarter of 2026

	Pool and Spot Market											Time Charters Out of the Pool							Bareboat Charter Out of the Pool
	Average Daily TCE Revenue (1)				Expected Revenue Days (2)			% of Days				Average Daily TCE Revenue (1)				Expected Revenue Days (2)			Average Daily Revenue				Expected Revenue Days (2)		% of Days
LR2	$	101,000			1,780			16		%		$	30,200			1,040			$	—			—		100		%
MR	$	36,500			3,273			16		%		$	26,800			264			$	12,986			90		100		%
Handymax	$	32,000			1,170			10		%		$	23,000			90			$	—			—		100		%

	(1)	Freight rates are commonly measured in the shipping industry in terms of time charter equivalent per day (or TCE per day), which is calculated by subtracting voyage expenses, including bunkers and port charges, from vessel revenue and dividing the net amount (time charter equivalent revenues) by the number of revenue days in the period.
	(2)	Expected Revenue Days are the total number of calendar days in the quarter for each vessel, less the total number of estimated off-hire days during the period associated with repairs or drydockings. Consequently, Expected Revenue Days represent the total number of days the vessel is expected to be available to earn revenue. Idle days, which are days when a vessel is available to earn revenue, yet is not employed, are included in revenue days. The Company uses revenue days to show changes in net vessel revenues between periods.

The above rates and coverage percentages are subject to change as the pool results, which include, but are not limited to, estimated results of voyages currently in progress, are finalized.

Update on Current Liquidity and Debt

The table below summarizes the Company’s outstanding indebtedness and liquidity as of the dates presented, and on a pro-forma basis to illustrate the impact of announced vessel sales which have not yet closed:

In thousands of U.S. dollars	Outstanding at December 31, 2025				Outstanding at March 20, 2026				Pro forma outstanding at March 20, 2026 (3)
2023 $225.0 Million Revolving Credit Facility	$	73,370			$	73,370			$	73,370
2023 $49.1 Million Credit Facility		27,164				27,164				27,164
2023 $117.4 Million Credit Facility		40,860				40,860				40,860
2023 $1.0 Billion Credit Facility (1)		213,593				193,418				193,418
2023 $94.0 Million Credit Facility		54,244				54,244				54,244
2025 $500.0 Million Revolving Credit Facility		—				—				—
Ocean Yield Lease Financing (2)		19,202				—				—
Unsecured Senior Notes Due 2030		200,000				200,000				200,000
Total Debt	$	628,433			$	589,056			$	589,056
Cash		751,955			$	974,000				1,101,822
Net Cash	$	123,522			$	384,944			$	512,766
Availability under revolving credit facilities	$	783,876			$	747,481			$	747,481

	(1)	In March 2026, we prepaid the outstanding debt balances related to STI Solidarity and STI Osceola of $20.2 million in aggregate.
	(2)	In February 2026, we repaid the outstanding lease obligation on STI Symphony of $18.9 million.
	(3)	Amounts reflect the balances as of March 20, 2026, adjusted for net proceeds from the sale of vessels (after estimated selling costs) which have not yet closed. These include the sales of two 2015 built scrubber-fitted MR product tankers, STI Seneca and STI Osceola, for $35.0 million each and a 2015 built scrubber-fitted LR2 product tanker, STI Solidarity, for $60.0 million.

About Scorpio Tankers Inc.

Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 89 product tankers (33 LR2 tankers, 42 MR tankers and 14 Handymax tankers) with an average age of 10.1 years. The Company has reached agreements to sell an LR2 product tanker and two MR product tankers, which are expected to close in the 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, four LR2 newbuildings with deliveries expected in 2027 and 2029 and two VLCC newbuildings with deliveries expected in the second half of 2028. 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.

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.

Contact Information

Scorpio Tankers Inc.
James Doyle – Head of Corporate Development & Investor Relations
Tel: +1 203-900-0559
Email: investor.relations@scorpiotankers.com

FAQ

What were Scorpio Tankers (STNG) average daily TCE rates in Q1 2026?

Q1 2026 TCE varied by class; LR2 averaged about $51,000 per day. According to the company, MR averaged $32,000 and Handymax about $34,000, measured as time charter equivalent per revenue day.

How did Scorpio Tankers (STNG) TCE rates change in Q2 2026 compared to Q1?

Q2 showed higher LR2 TCE, about $101,000 per day. According to the company, MR rose to $36,500 and Handymax was $32,000, indicating notable quarter-over-quarter TCE volatility by vessel class.

What liquidity position did Scorpio Tankers (STNG) report as of March 20, 2026?

Scorpio reported $974.0M cash and $589.1M total debt at March 20, 2026. According to the company, pro forma cash after agreed vessel sales would be $1,101.8M with pro forma net cash $512.8M.

Which vessel sales and proceeds did Scorpio Tankers (STNG) disclose impacting pro forma liquidity?

The company disclosed agreed sales totaling approximately $130.0M in gross proceeds. According to the company, those include two MR vessels at $35.0M each and one LR2 at $60.0M, affecting pro forma balances.

How many vessels does Scorpio Tankers (STNG) currently own and what newbuild deliveries are expected?

Scorpio currently owns 89 product tankers with average age 10.1 years. According to the company, four MR, four LR2 and two VLCC newbuildings are scheduled for delivery between 2026 and 2029.