Scorpio Tankers Announces VLCC Construction Agreements
Scorpio Tankers Inc. (NYSE: STNG) recently revealed that it has signed letters of intent for the construction of two Very Large Crude Carriers (VLCCs) at Hanwha Ocean Co. Ltd. in South Korea. Each vessel comes at a purchase price of $128 million, with deliveries scheduled for the third and fourth quarters of 2028, enhancing the Company's capabilities.
Investment News and Market Outlook
As part of its ongoing strategic growth, Scorpio Tankers has also been active in the stock market. The Company has sold 2,382,226 common shares of DHT Holdings Inc. at an average price of $13.25 per share since late October 2025. This effort leaves the Company with 1,169,568 shares of DHT as of the latest update.
CEO's Insight on the Crude Market
Emanuele Lauro, the Chairman and CEO of Scorpio Tankers, expressed a positive outlook on the crude tanker market. He stated that the new VLCC agreements align with the Company’s long-term vision for growth and capitalizing on future market conditions. The expenditures related to these newbuildings will primarily occur towards the end of 2027 and into 2028, allowing the Company to adapt to evolving market dynamics.
Fleet Expansion and Future Deliveries
The need for fleet expansion is critical for Scorpio Tankers, as they currently operate a diverse set of 98 product tankers, including LR2, MR, and Handymax tankers. Scorpio has also initiated agreements to sell four MR and two LR2 product tankers planned to complete transactions in the fourth quarter of 2025 and early 2026. Furthermore, they have four new MR vessels under construction, plus the addition of the two new VLCCs with targeted deliveries in 2026, 2027, and 2028.
About Scorpio Tankers Inc.
Scorpio Tankers Inc. specializes in marine transportation, particularly petroleum products globally. The Company's fleet boasts an average vessel age of 9.6 years, showcasing a strong asset base poised for further growth in the maritime logistics space. Scorpio Tankers is committed to maintaining operational excellence to meet the increasing demands of the market.
Contact Information for Investors
Investors seeking to learn more about Scorpio Tankers can contact:
Scorpio Tankers Inc.
James Doyle – Head of Corporate Development & Investor Relations
Tel: +1 203-900-0559
Email: investor.relations@scorpiotankers.com
Frequently Asked Questions
What are VLCCs and why are they important?
VLCCs, or Very Large Crude Carriers, are essential vessels used for transporting crude oil globally, playing a crucial role in the maritime oil industry.
How does Scorpio Tankers plan to finance the newbuildings?
The capital expenditures for the new VLCCs are primarily scheduled toward the end of 2027 and 2028, aligning with market demand and financial strategies.
What is Scorpio Tankers' approach to market challenges?
Scorpio Tankers emphasizes a robust long-term view of market fundamentals, adapting to changes proactively while managing risks effectively in an evolving landscape.
When are the new VLCCs expected for delivery?
The delivery of the new VLCCs is projected for the third and fourth quarters of 2028, allowing the Company ample time for strategic planning.
Where can I find more information about Scorpio Tankers?
For detailed insights and updates, you can visit Scorpio Tankers' official website at www.scorpiotankers.com.
