Scorpio Tankers Inc. Announces Vessel Sale Agreements and Time Charter-Out Agreements

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 $35.0 million per vessel and a 2015 built scrubber-fitted LR2 product tanker, STI Solidarity, for $60.0 million. The sale of these vessels is expected to close within the first or second quarter of 2026.

The vessels are currently financed on the Company’s 2023 $1.0 Billion Credit Facility with an aggregate outstanding debt balance of $20.2 million.

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 $33,000 per day. The term of the agreement for STI Rambla is eight years at a rate of $30,500 per day. These charters are expected to commence in the first or second quarter of 2026.

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.