A seaborne shipping company that carries refined petroleum products—gasoline, diesel, jet fuel, and naphtha—across the world's oceans aboard a fleet of product tankers. It was founded in 2009 by Emanuele Lauro, whose family has run shipping interests under the Scorpio name for generations, and the company took that name from the Scorpio Group it grew out of.
Scorpio Tankers reports Q2 2026 net income of $387.5M and declares $0.45 dividend.
Net income for Q2 2026 was $387.5 million, or $8.47 basic and $7.37 diluted EPS, compared to $73.5 million, or $1.59 basic and $1.53 diluted EPS, in Q2 2025.
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Adjusted net income for Q2 2026 was $243.7 million, or $5.33 basic and $4.68 diluted EPS, excluding a $154.1 million gain on vessel sales and other items.
The board declared a quarterly cash dividend of $0.45 per common share, payable August 31, 2026 to shareholders of record as of August 17, 2026.
In July 2026, the company signed an LOI to purchase two scrubber-fitted LR2 newbuildings for $72.8 million each, with deliveries expected in 2029.
During Q2 2026, the company issued $605.0 million in convertible senior notes due 2031 and repurchased 1,994,236 shares at an average price of $77.72 per share.
Scorpio Tankers redeems $200M 7.5% notes due 2030 and secures $90M credit facility
Scorpio Tankers issued a redemption notice for its $200 million 7.5% Senior Unsecured Notes due 2030, with redemption expected on July 17, 2026 at a make-whole price of 106.4 plus accrued interest.
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The company received a commitment from Standard Chartered Bank and DekaBank Deutsche Girozentrale for a credit facility of up to $90 million.
The new credit facility will finance a portion of the purchase price of four scrubber-fitted MR newbuilding product tankers under construction at Jingjiang Nanyang Shipbuilding Co., Ltd. in China, with deliveries expected in 2026 and 2027.
The credit facility has a final maturity of seven years from each vessel's delivery date and bears interest at SOFR plus a margin of 1.20% per annum.
The credit facility is subject to customary conditions and definitive documentation, with closing expected in the third quarter of 2026.
Scorpio Tankers updates Q2 2026 TCE rates; LR2 at $80,000/day, MR at $53,000/day.
Pool and spot market coverage is 88% for LR2, 90% for MR, and 80% for Handymax vessels for the quarter.
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As of June 18, 2026, Scorpio Tankers' average daily TCE for Q2 2026 is $80,000 for LR2, $53,000 for MR, and $54,000 for Handymax vessels in the pool and spot market.
Time charter out of the pool average daily TCE is $30,300 for LR2, $26,500 for MR, and $23,000 for Handymax; bareboat charter out of the pool for MR is $12,986 per day.
Fully diluted weighted average shares outstanding for Q2 2026 are estimated between 53 and 54 million, including the dilutive effect of the 1.75% Convertible Senior Notes due 2031 issued in April and May 2026.
The company owns 81 product tankers and has agreements to sell one MR and six LR2 tankers, with newbuildings expected through 2030.
Scorpio Tankers to sell four LR2 tankers, buy two MR newbuilds, repay $367.8M debt
Scorpio Tankers agreed to sell four LR2 product tankers (STI Broadway, STI Condotti, STI Winnie, STI Lauren) for $285.8 million aggregate, with closings expected in Q2 or Q3 2026.
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The company signed a letter of intent to purchase two scrubber-fitted MR newbuilding product tankers at $46.25 million each, with delivery expected in Q1 2030.
Scorpio Tankers intends to prepay $367.8 million of secured debt across five credit facilities maturing in 2028, including a previously announced $10.7 million prepayment.
The company plans to permanently cancel undrawn revolver capacity under the 2023 $225.0 Million Revolving Credit Facility and the 2023 $1.0 Billion Credit Facility.
Debt prepayments and revolver cancellations are expected in Q2 2026, which would terminate the affected credit facilities.
Scorpio Tankers completes $230M private offering of 1.75% convertible senior notes due 2031
The New Notes were priced at 110.25% of par plus accrued interest, and were issued under the same indenture as the existing $375.0 million Initial Notes due 2031.
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On May 12, 2026, Scorpio Tankers Inc. closed a private offering of $230.0 million aggregate principal amount of 1.75% Convertible Senior Notes due 2031, including $30.0 million from the initial purchaser's option.
Net proceeds were approximately $248.8 million; about $55.0 million was used to repurchase common stock at $84.69 per share in privately negotiated transactions.
The Notes mature on April 15, 2031, bear interest at 1.75% per year, and are convertible at an initial conversion rate of 9.9615 shares per $1,000 principal (conversion price ~$100.39 per share).
The Company intends to use the remaining net proceeds for general corporate purposes.