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Scorpio Tankers Inc. - STNG STOCK NEWS

Welcome to our dedicated page for Scorpio Tankers news (Ticker: STNG), a resource for investors and traders seeking the latest updates and insights on Scorpio Tankers stock.

Scorpio Tankers Inc. (NYSE: STNG) is a leading international provider of marine transportation services for refined petroleum products. With a diverse fleet of 110 product tankers, the company operates 39 LR2, 57 MR, and 14 Handymax tankers. This fleet is recognized as the largest, newest, and most eco-friendly on the water, dedicated to hauling clean petroleum products globally.

Headquartered in Monaco, Scorpio Tankers Inc. focuses on chartering its vessels to various oil majors, national oil companies, and trading and transportation companies. The majority of its revenue is generated from its MR vessels, which are highly efficient in transporting refined petroleum products.

In recent news, Scorpio Tankers Inc. has signed a non-binding Memorandum of Understanding with Fowe Eco Solutions Ltd. to install fuel emulsion systems across its entire fleet. This initiative is aimed at reducing fuel costs by at least 3% and cutting down 100,000 tons of carbon emissions annually, marking a significant step towards sustainability.

Scorpio Tankers' commitment to innovation and environmental responsibility is evident through its ongoing projects and partnerships. The company is well-positioned to benefit from the global demand for clean and efficient transportation solutions.

For investor relations or more information, you can contact James Doyle, Head of Corporate Development & Investor Relations at +1 646-432-1678 or via email at investor.relations@scorpiotankers.com.

News

Scorpio Tankers Inc. Announces Purchase of Call Options by the President of the Company

Rhea-AI Summary
Scorpio Tankers Inc. President, Robert Bugbee, purchases call options worth $7.0 million for 555,600 common shares with a strike price of $60.00 and expiration in September 2024.
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Scorpio Tankers Inc. Announces Financial Results for the Fourth Quarter of 2023 and an Increase to its Quarterly Dividend

Rhea-AI Summary
Scorpio Tankers Inc. reported strong financial results for Q4 2023, with net income of $120.9 million and a declared dividend of $0.40 per share. The company had adjusted net income of $142.2 million, showing growth from the previous year. Recent events include exercising purchase options on vessels and debt reductions.
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Scorpio Tankers Inc. Announces that on February 14, 2024 the Company will Issue Fourth Quarter 2023 Results and have a Conference Call

Rhea-AI Summary
Scorpio Tankers Inc. (STNG) has announced the issuance of its fourth-quarter 2023 earnings press release on February 14, 2024, along with a conference call at 9:00 AM EST and 3:00 PM CET. The conference call will be accessible through the company's website and a webcast link, as well as via telephonic means. Participants are advised to register for the webcast and dial in 10 minutes before the scheduled time.
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Scorpio Tankers Inc. Announces an Agreement to Sell an MR Product Tanker and the Exercise of Purchase Options on Five Ships

Rhea-AI Summary
Scorpio Tankers Inc. (NYSE:STNG) has announced the sale of an MR product tanker, STI Tribeca, for $39.1 million and the exercise of purchase options on five ships, resulting in a debt reduction of $61.1 million. The sale is expected to close in Q1 2024, and the purchases are expected to occur in the first half of 2024.
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Scorpio Tankers Inc. Announces Updates on Fourth Quarter 2023 Daily TCE Revenues and Debt and Lease Activity

Rhea-AI Summary
Scorpio Tankers Inc. (NYSE:STNG) announces updates on their fourth quarter of 2023 Daily TCE Revenues and recent debt and lease activity. The estimated average daily Time Charter Equivalent ('TCE') revenue and duration of contracted voyages and time charters for the Company’s vessels in the fourth quarter of 2023 are outlined. Additionally, the Company has committed to repaying the debt or lease financing obligations on 13 vessels, reflecting their commitment to lowering leverage and borrowing costs. The Company's outstanding indebtedness and net debt are also summarized.
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Scorpio Tankers Inc. Announces Financial Results for the Third Quarter of 2023, an Increase to its Quarterly Dividend, and Replenishment of its 2023 Securities Repurchase Program

Rhea-AI Summary
Scorpio Tankers Inc. (NYSE: STNG) reported net income of $100.4 million for Q3 2023, with a quarterly cash dividend of $0.35 per share declared. The company also announced significant debt repayments and lease financing transactions. The average daily TCE revenue for the company's vessels in Q3 2023 is detailed, along with the replenishment of the 2023 Securities Repurchase Program.
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Scorpio Tankers Inc. Announces that on November 9, 2023 the Company will Issue Third Quarter 2023 Results and have a Conference Call

Rhea-AI Summary
Scorpio Tankers Inc. will release its third quarter 2023 earnings on November 9, 2023, and host a conference call.
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Scorpio Tankers Inc. Announces Repurchases of its Common Shares

Rhea-AI Summary
Scorpio Tankers Inc. has repurchased 980,110 of its common shares in the open market at an average price of $49.66 per share. The company has 53,513,544 shares outstanding and $164.5 million of remaining availability under its 2023 Securities Repurchase Program.
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Scorpio Tankers Inc. Announces Financial Results for the Second Quarter of 2023

Rhea-AI Summary
Scorpio Tankers Inc. (NYSE: STNG) reported net income of $132.4 million for the three months ended June 30, 2023, and declared a quarterly cash dividend of $0.25 per share. The company executed $1.0 billion in term loans and credit facilities, exercised purchase options on multiple product tankers, and repurchased over 5.8 million common shares. The company's average daily Time Charter Equivalent (TCE) revenue and duration of contracted voyages for third quarter 2023 were also disclosed.
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Scorpio Tankers Inc. Announces Repurchases of its Common Shares, and on August 2, 2023 the Company will Issue Second Quarter 2023 Results and have a Conference Call

Rhea-AI Summary
Scorpio Tankers Inc. (NYSE:STNG) announced the repurchase of 838,050 common shares at an average price of $43.93 per share. There is $213.2 million remaining under the 2023 Securities Repurchase Program. Additionally, the company will release its second quarter 2023 earnings on August 2, 2023, and host a conference call at 8:30 AM Eastern Daylight Time and 2:30 PM Central European Summer Time.
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FAQ

What is the current stock price of Scorpio Tankers (STNG)?

The current stock price of Scorpio Tankers (STNG) is $47.76 as of January 22, 2025.

What is the market cap of Scorpio Tankers (STNG)?

The market cap of Scorpio Tankers (STNG) is approximately 2.4B.

What does Scorpio Tankers Inc. do?

Scorpio Tankers Inc. provides marine transportation services for refined petroleum products through its fleet of 110 tankers.

How does Scorpio Tankers generate revenue?

The majority of Scorpio Tankers' revenue comes from chartering its MR vessels to oil majors, national oil companies, and trading companies.

How many tankers does Scorpio Tankers Inc. operate?

Scorpio Tankers Inc. operates a fleet of 110 tankers, including 39 LR2, 57 MR, and 14 Handymax tankers.

What recent sustainability initiative has Scorpio Tankers undertaken?

Scorpio Tankers has signed a Memorandum of Understanding to install Fowe Eco Solutions' fuel emulsion systems across its fleet, aiming to reduce fuel costs and carbon emissions.

Who can I contact for investor relations at Scorpio Tankers Inc.?

For investor relations, you can contact James Doyle, Head of Corporate Development & Investor Relations, at +1 646-432-1678 or email investor.relations@scorpiotankers.com.

Where is Scorpio Tankers Inc. headquartered?

Scorpio Tankers Inc. is headquartered in Monaco.

What are MR vessels?

MR vessels, or Medium Range vessels, are tankers designed to transport refined petroleum products efficiently over medium distances.

What types of tankers are in Scorpio Tankers' fleet?

Scorpio Tankers' fleet includes LR2, MR, and Handymax tankers.

How does Scorpio Tankers contribute to environmental sustainability?

Scorpio Tankers contributes to sustainability by investing in eco-friendly technologies like fuel emulsion systems to reduce fuel consumption and carbon emissions.

How can I get more information about Scorpio Tankers Inc.?

You can visit the company's website or contact Investor Relations at investor.relations@scorpiotankers.com for more information.
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Scorpio Tankers Inc.

NYSE:STNG

STNG Rankings

#1846 Ranked by Market Cap
#959 Ranked by Dividends

STNG Stock Data

2.42B
43.47M
13.87%
71.22%
7.59%
Oil & Gas Midstream
Energy
Link
United States of America
Monaco