STNG · Scorpio Tankers Inc.

Scorpio Tankers Inc. has executed sale agreements for six 2014-built product tankers, comprising three LR2 vessels—STI Park, STI Sloane, and STI Madison—for a combined $195 million, and three MR vessels—STI Aqua, STI Regina, and STI Opera—for $105 million, totaling $300 million. This transaction reduces the company's exposure to older vessels, as these ships are part of its fleet of 87 product tankers with an average age of 10.2 years. Debt associated with the vessels is minimal post-transaction: STI Park and STI Sloane carry no debt, $10.7 million remains on STI Madison under the 2023 $225.0 Million Revolving Credit Facility, and the $21.3 million debt on the MR trio was already repaid in April 2026. Closures are anticipated in Q2 2026, aligning with the company's fleet optimization strategy, which includes ongoing sales of nine tankers (six MR and three LR2) and newbuilding orders for four MR, four LR2, and two VLCC vessels scheduled for delivery from 2026 through 2029. For investors, this generates significant near-term liquidity with limited debt drag, supporting balance sheet strength amid fleet renewal efforts.