Scorpio Tankers Inc. Announces Vessel Sale Agreements and Time Charter-Out Agreements
Rhea-AI Summary
Scorpio Tankers (NYSE:STNG) entered agreements to sell three product tankers and time charter-out two LR2 product tankers, with transactions expected to begin closing and commence in Q1 or Q2 2026.
The company agreed to sell two 2015 scrubber-fitted MR tankers, STI Seneca and STI Osceola, at $35.0 million each, and one 2015 scrubber-fitted LR2, STI Solidarity, at $60.0 million. The three vessels are financed under the company’s 2023 $1.0 billion credit facility with an aggregate outstanding debt balance of $20.2 million. Time charters: STI Lombard five years at $33,000/day, and STI Rambla eight years at $30,500/day.
Positive
- Sale: two 2015 MR vessels at $35.0M each
- Sale: 2015 LR2 vessel at $60.0M
- Time charter: STI Lombard five years at $33,000/day
- Time charter: STI Rambla eight years at $30,500/day
Negative
- Three vessel sales reduce the company's owned fleet
- Vessels carry an aggregate outstanding debt of $20.2M
News Market Reaction – STNG
On the day this news was published, STNG declined 1.83%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
While STNG was up 0.98%, tanker peers in the momentum scan like TRMD, CMBT, and DHT showed downside moves (median about -1.8%), suggesting today’s news impact was more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 12 | Earnings and dividend | Positive | -3.0% | Reported Q4 2025 results and raised quarterly cash dividend. |
| Jan 28 | Earnings notice | Neutral | +1.4% | Announced date and details for Q4 2025 earnings release and call. |
| Jan 13 | Liquidity update | Positive | +9.4% | Updated liquidity, debt reduction, and newbuilding commitments profile. |
| Jan 12 | Vessel sale | Neutral | +0.2% | Agreed sale of LR2 tanker STI Kingsway at a fixed price. |
| Jan 05 | Time charter deals | Positive | -0.4% | Entered five-year time charters for STI Rose and STI Alexis. |
News on liquidity, fleet sales, and time charters has generally seen mixed price reactions, with both aligned and divergent moves relative to seemingly positive updates.
Over the last few months, Scorpio Tankers highlighted stronger liquidity, debt reduction, and active fleet renewal. A Jan 13, 2026 update on liquidity and lower debt coincided with a 9.39% move higher, while the Feb 12, 2026 Q4 2025 earnings and dividend increase saw a 3.03% decline. Multiple vessel sale and time charter-out announcements since early January 2026 frame today’s additional asset sales and long-term charters as a continuation of that fleet and balance sheet strategy.
Market Pulse Summary
This announcement extends Scorpio Tankers’ fleet and balance sheet repositioning, adding sales of three 2015‑built scrubber-fitted tankers for up to $60.0 million and long-term time charters for two LR2s at up to $33,000 per day. It follows earlier updates on liquidity, vessel disposals, and multi‑year charters. Investors may focus on execution of Q1–Q2 2026 closing timelines, the impact on secured debt of $20.2 million, and the mix between contracted and spot market exposure.
Key Terms
time charter-out financial
scrubber-fitted technical
AI-generated analysis. Not financial advice.
MONACO, March 05, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced that it has entered into agreements to sell three product tankers and time charter-out two product tankers.
Vessel Sales
The Company has entered into agreements to sell two 2015 built scrubber-fitted MR product tankers, STI Seneca and STI Osceola, for
The vessels are currently financed on the Company’s 2023
Time Charter-Out Agreements
The Company has entered into agreements to time charter-out two LR2 product tankers, STI Lombard and STI Rambla. The term of the agreement for STI Lombard is five years at a rate of
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 90 product tankers (34 LR2 tankers, 42 MR tankers and 14 Handymax tankers) with an average age of 10.1 years. The Company has entered into agreements to sell two LR2 product tankers and two MR product tankers (including those announced in this press 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, 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. 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, including without limitation the potential expenses incurred under the recently implemented port fee regimes in the United States and China that may be applicable to certain of our vessels, the impact of the current and future sanctions that may impact the transportation of petroleum products, 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
What vessels is Scorpio Tankers (STNG) selling and for how much?
When will the vessel sales and time charters for STNG take effect?
What are the terms of the STNG time charter-outs for STI Lombard and STI Rambla?
Will any debt remain on the vessels Scorpio Tankers is selling (STNG)?
How might these sales and charters affect Scorpio Tankers' (STNG) operations in 2026?
