Scorpio Tankers reports $64,900 daily TCE rate

• Scorpio Tankers (NYSE:STNG) reported preliminary third quarter 2026 TCE rates, with LR2 vessels averaging $64,900 per day.
• The company secured three-year time charter agreements for three product tankers with daily rates ranging from $23,900 to $42,500.
• Scorpio Tankers expects third quarter 2026 weighted average shares outstanding between 54.5 million and 55.5 million due to potential dilution.

Scorpio Tankers (NYSE:STNG) reported preliminary third quarter 2026 average daily time charter equivalent (TCE) rates, with LR2 vessels averaging $64,900 per day across 1,249 expected revenue days and 85% coverage.

The company’s LR2 rates were higher than its MR and Handymax vessel categories, which recorded average daily TCE revenue of $30,000 and $25,500, respectively, during the reporting period.

Scorpio Tankers announced three-year time charter-out agreements for LR2 vessels STI Gladiator and STI Jermyn at daily rates of $40,188 and $42,500, starting in September 2026.

The company also fixed MR vessel STI Pontiac under a three-year charter agreement at $23,900 per day beginning in the fourth quarter of 2026, while estimating fully diluted weighted average shares outstanding of 54.5 million to 55.5 million for the quarter ended September 30, 2026.

Scorpio Tankers stated that the potential share count reflects the possible dilutive impact of its 1.75% Convertible Senior Notes due 2031 and restricted shares issued by the company.

The company operates a fleet of product tankers that transport refined petroleum products globally, with revenue influenced by vessel rates, charter agreements, and shipping market conditions.