Scorpio Tankers Inc. reported third-quarter 2026 daily Time Charter Equivalent revenue rates across its fleet segments, alongside new vessel charter agreements and fleet expansion plans.
The company’s LR2 tankers averaged $64,900 per day during the quarter, operating at 85% of expected revenue days. MR tankers recorded $30,000 per day with 79% utilization, while Handymax vessels earned $25,500 daily at 70% of expected revenue days. Scorpio Tankers is headquartered in Monaco, where the results were disclosed.
Three product tankers were chartered under three-year agreements starting in September 2026. The LR2 vessels STI Gladiator and STI Jermyn were contracted at $40,188 and $42,500 per day, respectively. The MR tanker STI Pontiac was chartered at $23,900 per day, with the agreement effective in the fourth quarter of 2026.
Scorpio Tankers’ weighted diluted share count for the three months ending September 30, 2026, is estimated between 54.5 million and 55.5 million shares. This range includes the dilutive impact of the company’s 1.75% Convertible Senior Notes due in 2031, issued in April and May 2026.
The company’s current fleet totals 75 product tankers, comprising 25 LR2, 36 MR, and 14 Handymax vessels, with an average age of 10.2 years. Scorpio Tankers has also secured agreements for 13 newbuilds, including five MR ships scheduled for delivery in 2027 and 2030, six LR2 vessels for 2027 and 2029, and two VLCCs for 2028.
