Scorpio Tankers Sells Two MR Ships at $35M and One LR2 at $60M
On March 5 Scorpio Tankers agreed to sell three scrubber-fitted tankers—two MR vessels at $35 million each and one LR2 tanker at $60 million—with expected closings in Q1–Q2 2026. The company reported Q4 adjusted net income of $80 million ($1.62/share) and approved a $0.45 quarterly dividend.
1. Vessel Sales Agreements
On March 5 the company agreed to sell three 2015-built scrubber-fitted tankers—MR vessels STI Seneca and STI Osceola at $35 million each and LR2 vessel STI Solidarity at $60 million—with expected closings in the first half of 2026.
2. Strong Quarterly and Annual Earnings
In the fourth quarter the company delivered adjusted net income of $80 million, or $1.62 per diluted share, up from $30.3 million a year earlier, and time charter equivalent revenue rose to $241.4 million versus $192.1 million. Full-year adjusted EBITDA reached $568 million and operating cash flow totaled $517 million.
3. Charter Agreements and Fleet Composition
Scorpio Tankers secured time charters for LR2 vessels STI Lombard at $33,000 per day for five years and STI Rambla at $30,500 per day for eight years beginning in Q1 and Q2 2026. The fleet consists of 93 tankers: 37 LR2, 42 MR and 14 Handymax vessels.
4. Capital Structure and Shareholder Returns
The company reduced its indebtedness by $2.5 billion in 2025 and carries $20.2 million debt on the sold vessels under its $1 billion credit facility. The board approved a $0.45 quarterly dividend payable March 20 to shareholders of record as of March 6.