Scorpio Tankers (NYSE: STNG) posts Q2 2026 TCE and diluted share update
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Scorpio Tankers Inc. provided an update on daily Time Charter Equivalent (TCE) rates for the second quarter of 2026. For pool and spot employment, average daily TCE revenue is reported at $80,000 for LR2 tankers over 1,721 expected revenue days with 88% coverage, $53,000 for MR tankers over 3,041 expected revenue days with 90% coverage, and $54,000 for Handymax tankers over 1,169 expected revenue days with 80% coverage.
For time charters out of the pool, LR2 tankers earn an average $30,300 per day over 1,082 expected revenue days, MR tankers $26,500 over 317 days, and Handymax tankers $23,000 over 90 days. One MR tanker on bareboat charter earns $12,986 per day over 90 expected revenue days with 100% coverage. The Company estimates its fully diluted weighted average shares outstanding for the quarter ended June 30, 2026 to be between 53 and 54 million shares, reflecting the potential dilution from its 1.75% Convertible Senior Notes due 2031 and restricted shares.
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Insights
Q2 2026 TCE and share dilution update gives clearer visibility into Scorpio Tankers’ operating leverage.
Scorpio Tankers reports strong average TCE levels for Q2 2026 to date, with LR2 tankers at $80,000 per day and MR tankers at $53,000 per day in the pool and spot market. Coverage between 80% and 90% across classes suggests a largely fixed revenue base for the quarter.
The company also guides to 53–54 million fully diluted weighted average shares for the quarter ended June 30, 2026, incorporating the potential effect of its 1.75% Convertible Senior Notes due 2031 and restricted shares via the if-converted method. Actual earnings per share will depend on final TCE performance, off-hire, and whether conversion of the notes is dilutive.
Key Figures
LR2 pool/spot TCE: $80,000 per day
MR pool/spot TCE: $53,000 per day
Handymax pool/spot TCE: $54,000 per day
+4 more
7 metrics
LR2 pool/spot TCE
$80,000 per day
Average daily TCE revenue Q2 2026 to date
MR pool/spot TCE
$53,000 per day
Average daily TCE revenue Q2 2026 to date
Handymax pool/spot TCE
$54,000 per day
Average daily TCE revenue Q2 2026 to date
MR bareboat TCE
$12,986 per day
Bareboat charter out of pool, 90 expected revenue days
Estimated diluted shares
53–54 million shares
Fully diluted weighted average, quarter ended June 30, 2026
Convertible notes coupon
1.75%
Convertible Senior Notes due 2031
Fleet size
81 product tankers
31 LR2, 36 MR, 14 Handymax; average age 10.2 years
Key Terms
Time Charter Equivalent, Expected Revenue Days, Convertible Senior Notes, if-converted method, +2 more
6 terms
Time Charter Equivalent financial
"an update on its daily Time Charter Equivalent (“TCE”) rates for the second quarter of 2026"
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 for each vessel"
Convertible Senior Notes financial
"Following the issuance of the Company’s 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.
off-hire days financial
"less the total number of estimated off-hire days during the period associated with repairs or drydockings"
revenue days financial
"Idle days, which are days when a vessel is available to earn revenue, yet is not employed, are included in revenue days"
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 June 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 daily Time Charter Equivalent (“TCE”) rates for the second quarter of 2026.
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: June 18, 2026 | ||||||||||||||||||||
| By: | /s/ Christopher Avella | |||||||||||||||||||
| Christopher Avella | ||||||||||||||||||||
| Chief Financial Officer | ||||||||||||||||||||
Exhibit 99.1
Scorpio Tankers Inc. Announces Update on Second Quarter 2026 TCE Rates
MONACO, June 18, 2026 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) today announced an update on its daily Time Charter Equivalent (“TCE”) rates for the second quarter of 2026.
Second 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 second 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 | $ | 80,000 | 1,721 | 88 | % | $ | 30,300 | 1,082 | $ | — | — | 100 | % | |||||||||||||||||||
| MR | $ | 53,000 | 3,041 | 90 | % | $ | 26,500 | 317 | $ | 12,986 | 90 | 100 | % | |||||||||||||||||||
| Handymax | $ | 54,000 | 1,169 | 80 | % | $ | 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.
Second Quarter 2026 Diluted Shares Outstanding
The Company estimates that its fully diluted weighted average shares outstanding for the three months ended June 30, 2026 to be between 53 to 54 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 six months ended June 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 81 product tankers (31 LR2 tankers, 36 MR tankers and 14 Handymax tankers) with an average age of 10.2 years. The Company has reached agreements to sell one MR product tanker and six LR2 product tankers, which are expected to close in the second or third quarter of 2026. The Company has also reached agreements or letters of intent for six MR newbuildings that are currently under construction with deliveries expected in 2026, 2027 and 2030, four 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, 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, 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, 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 TCE rates did Scorpio Tankers (STNG) report for Q2 2026 so far?
Scorpio Tankers reported average Q2 2026 pool and spot TCEs of $80,000 per day for LR2, $53,000 for MR, and $54,000 for Handymax tankers, based on thousands of expected revenue days and coverage between 80% and 90% of available days.
What are Scorpio Tankers’ expected revenue days and coverage in Q2 2026?
For Q2 2026, Scorpio Tankers expects 1,721 LR2, 3,041 MR, and 1,169 Handymax pool and spot revenue days, with coverage of 88%, 90%, and 80% respectively. These expected revenue days exclude estimated off-hire but include idle days when vessels are available.
What time charter and bareboat TCE rates did Scorpio Tankers disclose?
Scorpio Tankers’ Q2 2026 update shows time charters out of the pool at $30,300 per day for LR2, $26,500 for MR, and $23,000 for Handymax tankers. One MR tanker on bareboat charter earns $12,986 per day over 90 expected revenue days with full 100% coverage.
How does Scorpio Tankers define Time Charter Equivalent (TCE) and Expected Revenue Days?
Scorpio Tankers defines TCE per day as vessel revenue minus voyage expenses, divided by revenue days. Expected Revenue Days are total calendar days in the quarter per vessel, less estimated off-hire for repairs or drydockings, representing days available to earn revenue, including idle days.
What fleet does Scorpio Tankers (STNG) currently operate and what changes are planned?
Scorpio Tankers currently owns 81 product tankers: 31 LR2, 36 MR, and 14 Handymax, with an average age of 10.2 years. It has agreed to sell one MR and six LR2 tankers and has multiple MR, LR2, and VLCC newbuildings scheduled for delivery between 2026 and 2030.