Scorpio Tankers posts Q3 LR2 TCE of $64,900
Scorpio Tankers updates third-quarter 2026 TCE levels, adds three multi-year time charters, and projects 54.5–55.5 million diluted shares outstanding.
Rhea-AI Filing Summary
Scorpio Tankers Inc. (STNG) reports preliminary third quarter 2026 average daily Time Charter Equivalent (TCE) rates and vessel coverage. As of early in the quarter, LR2 tankers are earning about $64,900 per day in the pool and spot market over 1,249 expected revenue days, covering 85% of available days. MR tankers are earning about $30,000 per day over 3,058 expected revenue days with 79% coverage, and Handymax tankers about $25,500 per day over 1,183 expected revenue days with 70% coverage.
The company has agreed to time charter-out three product tankers: LR2 vessels STI Gladiator and STI Jermyn for three years at daily rates of $40,188 and $42,500, respectively, both expected to commence in September 2026, and MR vessel STI Pontiac for three years at $23,900 per day starting in the fourth quarter of 2026. Scorpio Tankers estimates fully diluted weighted average shares outstanding for the quarter ended September 30, 2026 will range between 54.5 million and 55.5 million shares, reflecting the potential dilutive effect of its 1.75% Convertible Senior Notes due 2031 and restricted shares. The company owns 75 product tankers with an average age of 10.2 years and has multiple MR, LR2, and VLCC newbuildings scheduled for deliveries between 2027 and 2030.
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Filing Explained
The filing adds out-of-pool and bareboat employment details while making no new share issuance disclosure.
The filing incorporates its information by reference into the company’s effective Form F-3 and Form S-8 registration statements, but does not disclose a new offering or share issuance; the disclosed registration consequence is therefore documentary rather than a reported change in ownership.
It adds the employment details outside the pool: LR2 vessels have
The pool and spot-market rates and coverage percentages remain subject to change as voyage results are finalized, so the current figures are not final quarterly results.
Key Figures
LR2 pool and spot TCE: $64,900 per day
LR2 expected revenue days: 1,249 days
MR pool and spot TCE: $30,000 per day
+5 more
8 metrics
LR2 pool and spot TCE
$64,900 per day
Average daily TCE revenue for LR2 vessels in Q3 2026 pool and spot market
LR2 expected revenue days
1,249 days
Expected revenue days for LR2 vessels in Q3 2026 pool and spot market
MR pool and spot TCE
$30,000 per day
Average daily TCE revenue for MR vessels in Q3 2026 pool and spot market
Handymax pool and spot TCE
$25,500 per day
Average daily TCE revenue for Handymax vessels in Q3 2026 pool and spot market
STI Gladiator time charter rate
$40,188 per day
Three-year time charter for LR2 STI Gladiator commencing in September 2026
STI Jermyn time charter rate
$42,500 per day
Three-year time charter for LR2 STI Jermyn commencing in September 2026
STI Pontiac time charter rate
$23,900 per day
Three-year time charter for MR STI Pontiac commencing in Q4 2026
Estimated diluted shares
54.5–55.5 million shares
Estimated fully diluted weighted average shares for quarter ended September 30, 2026
Key Terms
Time Charter Equivalent, Expected Revenue Days, bareboat charter, Convertible Senior Notes, +1 more
5 terms
Time Charter Equivalent financial
"an update on its third 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.
Expected Revenue Days financial
"Expected Revenue Days are the total number of calendar days in the quarter"
bareboat charter financial
"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.
Convertible Senior Notes financial
"1.75% Convertible Senior Notes due 2031"
Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.
if-converted method financial
"The dilutive impact of the Convertible Notes is determined using the if-converted method"
An accounting rule used when calculating diluted earnings per share that imagines what would happen if all convertible securities—like convertible bonds, preferred shares, or options—had already been turned into common stock. It adjusts the company’s reported profit per share downward to show how earnings would be shared if ownership were spread across a larger number of shares, similar to checking how a pie’s slice size changes if more people join the table. This matters to investors because it reveals a more conservative view of each share’s claim on profits and potential future ownership dilution.
FAQ
What TCE rates did Scorpio Tankers (STNG) report for LR2 vessels in Q3 2026?
Scorpio Tankers reported LR2 tankers earning an average daily TCE of $64,900 in the pool and spot market over 1,249 expected revenue days, representing 85% of available days covered so far in the third quarter of 2026.
What are the reported MR and Handymax TCE rates for Scorpio Tankers (STNG) in Q3 2026?
MR tankers are earning an average daily TCE of $30,000 over 3,058 expected revenue days with 79% coverage. Handymax tankers are earning $25,500 per day over 1,183 expected revenue days with 70% coverage for the third quarter of 2026.
What new time charter-out agreements did Scorpio Tankers (STNG) enter into?
Scorpio Tankers agreed to time charter-out LR2 vessels STI Gladiator and STI Jermyn for three years at $40,188 and $42,500 per day, respectively, starting in September 2026, and MR vessel STI Pontiac for three years at $23,900 per day starting in the fourth quarter of 2026.
How does Scorpio Tankers (STNG) define Time Charter Equivalent (TCE) per day?
Scorpio Tankers defines TCE per day as vessel revenue minus voyage expenses, including bunkers and port charges, with the result (time charter equivalent revenues) divided by the number of revenue days in the period, giving an average daily TCE rate used to compare freight performance.
What is Scorpio Tankers’ (STNG) current fleet size and average age?
Scorpio Tankers currently owns 75 product tankers, consisting of 25 LR2, 36 MR, and 14 Handymax tankers, with an average age of 10.2 years, providing marine transportation of petroleum products worldwide.
What newbuilding program does Scorpio Tankers (STNG) highlight in this update?
Scorpio Tankers notes agreements or letters of intent for five MR newbuildings with deliveries in 2027 and 2030, six LR2 newbuildings with deliveries in 2027 and 2029, and two VLCC newbuildings with deliveries in 2028.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number: 001-34677
SCORPIO TANKERS INC.
(Translation of registrant’s name into English)
99, Boulevard du Jardin Exotique, Monaco 98000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached to this Report on Form 6-K (this “Report”) as Exhibit 99.1 is a copy of the press release issued by Scorpio Tankers Inc. (the “Company”) announcing an update on its third quarter of 2026 average daily time charter equivalent rates and that it has entered into agreements to time charter out three product tankers.
The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company’s registration statements on Form F-3 (Registration No. 333-286015) and S-8 (Registration No. 333-295734) that were filed with the U.S. Securities and Exchange Commission, with effective dates of March 21, 2025 and May 8, 2026, respectively.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SCORPIO TANKERS INC. | ||||||||||||||||||||
| (registrant) | ||||||||||||||||||||
Dated: September 3, 2026 | ||||||||||||||||||||
| By: | /s/ Christopher Avella | |||||||||||||||||||
| Christopher Avella | ||||||||||||||||||||
| Chief Financial Officer | ||||||||||||||||||||
Exhibit 99.1
Scorpio Tankers Inc. Announces Updates on Third Quarter 2026 TCE Rates and Time Charter-Out Agreements
MONACO, Sept. 03, 2026 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced today an update on its third quarter of 2026 average daily Time Charter Equivalent (“TCE”) rates and that it has entered into agreements to time charter-out three product tankers.
Third Quarter 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 third quarter of 2026 as of the date hereof:
| 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 | $ | 64,900 | 1,249 | 85 | % | $ | 30,800 | 902 | $ | — | — | — | % | |||||||||||||||||||
| MR | $ | 30,000 | 3,058 | 79 | % | 28,000 | 95 | $ | 12,986 | 91 | 100 | % | ||||||||||||||||||||
| Handymax | $ | 25,500 | 1,183 | 70 | % | 23,000 | 91 | $ | — | — | — | % | ||||||||||||||||||||
(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.
Time Charter-Out Agreements
The Company has recently entered into agreements to time charter-out two LR2 product tankers, STI Gladiator and STI Jermyn, and one MR product tanker, STI Pontiac. The agreements for STI Gladiator and STI Jermyn are each for a term of three years at rates of $40,188 per day and $42,500 per day, respectively. These time charters are expected to commence in September 2026. The agreement for STI Pontiac is for a term of three years at a rate of $23,900 per day. This time charter is expected to commence in the fourth quarter of 2026.
Third Quarter 2026 Diluted Shares Outstanding
The Company estimates that its fully diluted weighted average shares outstanding for the three months ended September 30, 2026 to be between 54.5 to 55.5 million shares.
Following the issuance of the Company’s 1.75% Convertible Senior Notes due 2031 (the “Convertible Notes”) in April and May 2026, the diluted weighted average number of shares for the three months and nine months ended September 30, 2026 includes the potentially dilutive effect of the Convertible Notes and restricted shares issued under the Company’s equity incentive plan.
The dilutive impact of the Convertible Notes is determined using the if-converted method, which assumes that the Convertible Notes were converted into common shares at the beginning of the period (or, at the date of issuance, if issued during the period). Under the if-converted method, net income is adjusted to add back the interest expense and other non-cash amortization expense associated with the Convertible Notes, while the weighted average number of shares outstanding is increased by the potential number of shares issuable upon conversion.
The estimated diluted shares outstanding provided herein is preliminary and subject to change as the calculation is partially dependent upon the average price of the Company’s common stock during the period. Conversion will not be assumed for purposes of computing diluted earnings per share if the effect would be anti-dilutive.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 75 product tankers (25 LR2 tankers, 36 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, six LR2 newbuildings with deliveries expected in 2027 and 2029 and two 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