Scorpio Tankers Announces Vessel Sales Agreements and a New Time Charter-Out Agreement
Scorpio Tankers Inc. (NYSE:STNG) has announced significant developments in its fleet management strategy. The company has entered into agreements to sell two 2014-built scrubber-fitted MR product tankers, STI San Antonio and STI Texas City, for $42.5 million each. These sales are expected to conclude in Q4 2024.
Additionally, Scorpio Tankers has secured a three-year time charter-out agreement for its 2018-built MR product tanker, STI Jardins. The charter, set at $29,550 per day, is with a major oil company and is anticipated to begin in Q3 or Q4 2024. Notably, the STI Jardins is not equipped with a scrubber.
These strategic moves demonstrate Scorpio Tankers' active management of its fleet composition and revenue streams in the dynamic tanker market.
Scorpio Tankers Inc. (NYSE:STNG) ha annunciato sviluppi significativi nella sua strategia di gestione della flotta. L'azienda ha stipulato accordi per vendere due tanker MR con scrubber, costruiti nel 2014, STI San Antonio e STI Texas City, per 42,5 milioni di dollari ciascuno. Si prevede che queste vendite si concludano nel quarto trimestre del 2024.
Inoltre, Scorpio Tankers ha assicurato un contratto di noleggio di tre anni per il suo tanker MR costruito nel 2018, STI Jardins. Il noleggio, fissato a 29.550 dollari al giorno, è con una grande compagnia petrolifera e dovrebbe iniziare nel terzo o quarto trimestre del 2024. Vale la pena notare che lo STI Jardins non è dotato di scrubber.
Queste mosse strategiche dimostrano la gestione attiva della composizione della flotta e dei flussi di entrate da parte di Scorpio Tankers nel dinamico mercato dei tanker.
Scorpio Tankers Inc. (NYSE:STNG) ha anunciado desarrollos significativos en su estrategia de gestión de flota. La compañía ha firmado acuerdos para vender dos tanqueros MR equipados con scrubber construidos en 2014, STI San Antonio y STI Texas City, por 42,5 millones de dólares cada uno. Se espera que estas ventas concluyan en el cuarto trimestre de 2024.
Además, Scorpio Tankers ha asegurado un contrato de alquiler por tres años para su tanquero MR construido en 2018, STI Jardins. El alquiler, fijado en 29.550 dólares por día, es con una importante compañía petrolera y se anticipa que comience en el tercer o cuarto trimestre de 2024. Cabe destacar que el STI Jardins no está equipado con un scrubber.
Estos movimientos estratégicos demuestran la gestión activa de Scorpio Tankers sobre la composición de su flota y sus fuentes de ingreso en el dinámico mercado de tanqueros.
스코르피오 탱커스 주식회사 (NYSE:STNG)는 선대 관리 전략의 중대한 발전을 발표했습니다. 회사는 2014년에 제작된 스크러버 장착 MR 제품 탱커인 STI San Antonio와 STI Texas City를 각각 $4250만에 판매하는 계약을 체결했습니다. 이러한 판매는 2024년 4분기에 마무리될 것으로 예상됩니다.
또한 스코르피오 탱커스는 2018년에 제작된 MR 제품 탱커인 STI Jardins에 대해 3년의 시간 정기 차용 계약을 확보했습니다. 이 차용은 하루 $29,550에 주요 석유 회사와 체결되었으며, 2024년 3분기 또는 4분기에 시작될 것으로 예상됩니다. 특히 STI Jardins는 스크러버가 장착되어 있지 않습니다.
이러한 전략적 움직임은 스코르피오 탱커스의 선대 구성 및 수익 흐름을 동적인 탱커 시장에서 적극적으로 관리하고 있음을 보여줍니다.
Scorpio Tankers Inc. (NYSE:STNG) a annoncé des développements significatifs dans sa stratégie de gestion de flotte. L'entreprise a conclu des accords pour vendre deux tankers MR équipés de scrubbers, construits en 2014, STI San Antonio et STI Texas City, pour 42,5 millions de dollars chacun. Ces ventes devraient se conclure au quatrième trimestre 2024.
De plus, Scorpio Tankers a sécurisé un contrat de location de trois ans pour son tanker MR construit en 2018, STI Jardins. Le contrat de location, fixé à 29 550 dollars par jour, est avec une grande compagnie pétrolière et devrait commencer au troisième ou quatrième trimestre 2024. Il est à noter que STI Jardins n'est pas équipé d'un scrubber.
Ces mouvements stratégiques démontrent la gestion active de la composition de la flotte et des flux de revenus par Scorpio Tankers sur le dynamique marché des tankers.
Scorpio Tankers Inc. (NYSE:STNG) hat bedeutende Entwicklungen in seiner Flottenmanagementstrategie angekündigt. Das Unternehmen hat Vereinbarungen getroffen, um zwei 2014 gebaute MR-Produktfrachtzüge mit Scrubber zu verkaufen, STI San Antonio und STI Texas City, jeweils für 42,5 Millionen Dollar. Diese Verkäufe werden voraussichtlich im vierten Quartal 2024 abgeschlossen sein.
Darüber hinaus hat Scorpio Tankers einen drei Jahre dauernden Chartervertrag für seinen 2018 gebauten MR-Produktfrachtzug, STI Jardins, gesichert. Der Chartervertrag, angesetzt bei 29.550 Dollar pro Tag, ist mit einem großen Ölunternehmen und soll im dritten oder vierten Quartal 2024 beginnen. Auffällig ist, dass STI Jardins nicht mit einem Scrubber ausgestattet ist.
Diese strategischen Schritte zeigen, dass Scorpio Tankers aktiv an der Zusammensetzung seiner Flotte und an Umsatzströmen im dynamischen Tankermarkt arbeitet.
- Sale of two older vessels for $42.5 million each, potentially improving fleet efficiency
- Secured a three-year time charter-out agreement at $29,550 per day, providing stable income
- Time charter agreement with a major oil company, indicating strong industry relationships
- Reduction in fleet size by selling two vessels, potentially impacting overall capacity
- The chartered vessel (STI Jardins) is not scrubber-fitted, which may affect its competitiveness in certain markets
Insights
Scorpio Tankers' latest moves signal a strategic shift in their fleet management. The sale of two older vessels at
The new time charter agreement for STI Jardins at
However, investors should note that selling scrubber-fitted vessels while chartering out a non-scrubber vessel might impact fuel cost savings in the long run, especially with upcoming environmental regulations.
These transactions reflect broader market dynamics in the tanker industry. The strong sale prices for 10-year-old vessels indicate a robust secondhand market, likely driven by high charter rates and newbuild orders. This could bode well for asset values across the sector.
The three-year charter at an attractive rate suggests confidence in medium-term market strength. It's noteworthy that oil majors are securing tonnage for extended periods, potentially signaling expectations of continued tight supply-demand balance in the product tanker market.
Investors should watch for similar moves by peers, as these deals could set benchmarks for vessel values and charter rates in the MR tanker segment. The strategy also hints at Scorpio's market outlook, balancing between capitalizing on current high asset values and securing stable future income.
MONACO, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced today that it has entered into agreements to sell two vessels and a new time charter-out agreement.
Vessel Sales
The Company has recently entered into agreements to sell two 2014 built scrubber fitted MR product tankers, STI San Antonio and STI Texas City, for
Time Charter-Out Agreement
The Company has entered into a three-year time charter-out agreement for the 2018 built MR product tanker, STI Jardins, for
About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 104 product tankers (39 LR2 tankers, 51 MR tankers and 14 Handymax tankers) with an average age of 8.5 years. The Company has entered into agreements to sell four of its MR tankers, which are expected to close in the third and fourth quarters of 2024. 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, business and management strategies in response to epidemic and other public health concerns including any effect on demand for petroleum products and the transportation thereof, 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, potential liability from pending or future litigation, general domestic and international political conditions, including the impact of the conflict in Ukraine and the developments in the Middle East, including the armed conflict in Israel and Gaza, potential disruption of shipping routes due to accidents or political events, vessels 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: +1 646-432-1678
Email: investor.relations@scorpiotankers.com
FAQ
What vessels is Scorpio Tankers (STNG) selling and for how much?
When are the vessel sales by Scorpio Tankers (STNG) expected to close?
What new charter agreement has Scorpio Tankers (STNG) entered into?
When is the new time charter-out agreement for Scorpio Tankers (STNG) expected to commence?
Is the STI Jardins, chartered by Scorpio Tankers (STNG), fitted with a scrubber?
