Scorpio Tankers Inc. reported third-quarter 2026 average daily time charter equivalent (TCE) rates of $64,900 for LR2 vessels, $30,000 for MR tankers, and $25,500 for Handymax vessels, covering 85%, 79%, and 70% of expected revenue days respectively.
The Monaco-based company also announced the chartering out of three product tankers under three-year agreements. The LR2 vessels STI Gladiator and STI Jermyn secured rates of $40,188 and $42,500 per day respectively, with charters commencing in September 2026. The MR tanker STI Pontiac was chartered at $23,900 per day, with the agreement set to begin in the fourth quarter of 2026.
Scorpio Tankers estimated its fully diluted weighted average shares outstanding for the three months ended September 30, 2026, at between 54.5 million and 55.5 million, reflecting the potential dilution from its 1.75% Convertible Senior Notes due 2031, issued in April and May 2026.
As of the latest update, the company owns 75 product tankers, including 25 LR2, 36 MR, and 14 Handymax vessels, with an average fleet age of 10.2 years. Scorpio Tankers also outlined its newbuilding pipeline, with five MR tankers expected in 2027 and 2030, six LR2 tankers in 2027 and 2029, and two VLCCs in 2028.
