Scorpio Tankers (NYSE: STNG) sells LR2 vessels and plans $367.8M debt prepay
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Scorpio Tankers Inc. reported several capital allocation moves. The company agreed to sell four LR2 product tankers—STI Broadway, STI Condotti, STI Winnie and STI Lauren—for a total of $285.8 million, with closings expected in the second or third quarter of 2026.
It also signed a letter of intent to buy two scrubber‑fitted MR newbuilding product tankers for $46.25 million per vessel, with construction in China and deliveries expected in the first quarter of 2030, with most payments due 2028 or later. In addition, Scorpio Tankers plans unscheduled prepayments totaling $367.8 million on secured credit facilities maturing in 2028 and will cancel related undrawn revolver capacity, effectively terminating these facilities.
Positive
- The company plans unscheduled prepayments totaling $367.8 million on secured credit facilities maturing in 2028, which would significantly reduce secured debt and terminate several 2023 credit lines.
Negative
- None.
Insights
Scorpio Tankers pairs fleet reshaping with sizable 2028 debt prepayment.
Scorpio Tankers is selling four LR2 product tankers for $285.8 million while committing to two MR newbuildings at $46.25 million each, with deliveries in 2030. This shifts exposure from older LR2s toward future MR capacity on a long-dated payment schedule.
The company plans unscheduled prepayments of $367.8 million across multiple secured credit facilities maturing in 2028, and will cancel undrawn revolver capacity under two of them. This materially reduces secured debt and available committed liquidity tied to these facilities.
Actual impact will depend on sale closings in the second or third quarter of 2026 and execution of definitive documentation for the MR newbuildings. Future disclosures in company filings may provide more detail on fleet earnings impact and replacement financing, if any.
Key Figures
LR2 vessel sale proceeds: $285.8 million
MR newbuilding price: $46.25 million per vessel
Secured debt prepayment: $367.8 million
+3 more
6 metrics
LR2 vessel sale proceeds
$285.8 million
Aggregate price for four LR2 product tankers
MR newbuilding price
$46.25 million per vessel
Two scrubber-fitted MR product tankers under letter of intent
Secured debt prepayment
$367.8 million
Unscheduled prepayments on secured credit facilities maturing in 2028
Previously announced prepayment
$10.7 million
Included within the $367.8 million aggregate prepayments
Current fleet size
83 product tankers
32 LR2, 37 MR and 14 Handymax tankers owned, average age 10.2 years
Average fleet age
10.2 years
Average age of 83 owned product tankers
Key Terms
LR2 product tankers, MR newbuilding product tankers, secured credit facilities, Revolving Credit Facility, +2 more
6 terms
LR2 product tankers financial
"agreements to sell four LR2 product tankers consisting of two 2014 built LR2"
MR newbuilding product tankers financial
"letter of intent to purchase two scrubber-fitted MR newbuilding product tankers"
secured credit facilities financial
"unscheduled prepayments totaling $367.8 million in aggregate ... on certain of its secured credit facilities"
A secured credit facility is a loan or line of credit a company borrows against using specific assets—such as property, equipment, inventory, or receivables—as collateral, similar to how a mortgage is tied to a house. For investors it matters because these loans usually carry lower interest but give lenders a legal claim on pledged assets if the borrower defaults, affecting a company’s financial flexibility, risk profile, and the priority of creditors in a restructuring.
Revolving Credit Facility financial
"2023 $225.0 Million Revolving Credit Facility, 2023 $1.0 Billion Credit Facility"
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.
letter of intent financial
"The Company has entered into a letter of intent to purchase two scrubber-fitted"
A letter of intent is a document that shows an agreement in principle between parties to work towards a future deal or transaction. It outlines their intentions and key terms, acting like a roadmap before a formal contract is signed. For investors, it signals serious interest and helps clarify expectations early in the process.
forward-looking statements regulatory
"Matters discussed in this press release may constitute forward‐looking statements."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
What major actions did Scorpio Tankers (STNG) announce in this 6-K?
Scorpio Tankers announced agreements to sell four LR2 product tankers, a letter of intent to buy two scrubber‑fitted MR newbuildings, and plans to prepay all outstanding secured debt maturing in 2028, including cancelling associated undrawn revolving credit capacity.
How much will Scorpio Tankers receive for selling the four LR2 product tankers?
The company agreed to sell four LR2 product tankers—two built in 2014 and two in 2015—for an aggregate price of $285.8 million. These transactions are expected to close in the second or third quarter of 2026, subject to customary conditions and completion processes.
What are the terms of Scorpio Tankers’ newbuilding MR tanker purchases?
Scorpio Tankers signed a letter of intent to purchase two scrubber‑fitted MR newbuilding product tankers for $46.25 million per vessel. The ships are expected to be built in China, with deliveries in the first quarter of 2030, and most payments due 2028 or later.
How much secured debt does Scorpio Tankers plan to prepay by 2028?
The company intends unscheduled prepayments totaling $367.8 million on several secured credit facilities scheduled to mature in 2028. This includes a previously announced $10.7 million prepayment and would result in terminating those facilities and cancelling related undrawn revolver capacity.
When will Scorpio Tankers’ vessel sales and debt prepayments likely occur?
The sales of the four LR2 product tankers are expected to close in the second or third quarter of 2026. The unscheduled secured debt prepayments and cancellation of undrawn revolvers are expected to occur in the second quarter of 2026, ending the specified credit facilities.
What does Scorpio Tankers’ fleet look like after these announced changes?
Scorpio Tankers currently owns 83 product tankers with an average age of 10.2 years. It has agreements to sell additional MR and LR2 vessels and letters of intent or agreements for multiple MR, LR2, and VLCC newbuildings with deliveries scheduled between 2026 and 2030.
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 May 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 that the Company has entered into agreements to sell four LR2 product tankers, a letter of intent to purchase two newbuilding MR product tankers and its intention to repay all outstanding secured debt due 2028.
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: May 28, 2026 | ||||||||||||||||||||
| By: | /s/ Christopher Avella | |||||||||||||||||||
| Christopher Avella | ||||||||||||||||||||
| Chief Financial Officer | ||||||||||||||||||||
Exhibit 99.1
Scorpio Tankers Inc. Announces Agreements to Sell Four LR2 Product Tankers, a Letter of Intent to Purchase Two Newbuilding MRs and its Intention to Repay All Secured Debt Due 2028
MONACO, May 27, 2026 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE: STNG) (“Scorpio Tankers,” or the “Company”) announced today that it has entered into agreements to sell four LR2 product tankers, a letter of intent to purchase two newbuilding MR product tankers and its intention to repay all outstanding secured debt due 2028.
Vessel Sales
The Company has entered into agreements to sell four LR2 product tankers consisting of two 2014 built LR2 product tankers, STI Broadway and STI Condotti, and two 2015 built LR2 product tankers, STI Winnie and STI Lauren, for $285.8 million in aggregate. The sales of these vessels are expected to close within the second or third quarter of 2026.
Newbuilding Vessel Purchases
The Company has entered into a letter of intent to purchase two scrubber-fitted MR newbuilding product tankers for $46.25 million per vessel. The vessels are expected to be constructed at Jiangsu Yangzi-Mitsui Shipbuilding Co., Ltd. in China and deliveries are expected in the first quarter of 2030. Aside from a 10% initial deposit, the remaining payments are not due until 2028 or later. The letter of intent is subject to the execution of definitive documentation.
Debt Prepayment
The Company intends to make unscheduled prepayments totaling $367.8 million in aggregate, including the previously announced unscheduled prepayment of $10.7 million, on certain of its secured credit facilities. This amount represents the aggregate debt outstanding under our 2023 $225.0 Million Revolving Credit Facility, 2023 $49.1 Million Credit Facility, 2023 $117.4 Million Credit Facility, 2023 $1.0 Billion Credit Facility and 2023 $94.0 Million Credit Facility, all of which are scheduled to mature in 2028. Further, the Company intends to permanently cancel the undrawn revolver capacity under the 2023 $225.0 Million Revolving Credit Facility and the 2023 $1.0 Billion Credit Facility. These debt prepayments and undrawn revolver cancellations are expected to occur in the second quarter of 2026, which would result in the termination of these aforementioned credit facilities.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 83 product tankers (32 LR2 tankers, 37 MR tankers and 14 Handymax tankers) with an average age of 10.2 years. The Company has reached agreements to sell two MR product tankers and seven 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 (including the two mentioned in this press release) 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