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Scorpio Tankers Inc. (NYSE:STNG) ("Scorpio Tankers," or the "Company") announced today a time charter-out agreement and an update on daily TCE rates.
Time Charter-Out Agreement
The Company recently reached an agreement to time charter-out the 2014 built LR2 product tanker, STI Orchard. The term of this agreement is for five years at a rate of $28,350 per day commencing in the third quarter of 2025.
Daily TCE Rate Update
Below is a summary of the average daily Time Charter Equivalent ("TCE") revenue and duration of contracted voyages and time charters for the Company's vessels (both in the pools and outside of the pools) thus far in the third quarter of 2025 as of the date hereof:
| Pool and Spot Market | Time Charters Out of the Pool | Bareboat Charter Out of the Pool | |||||||||||
| Average Daily TCE Revenue(1) | Expected Revenue Days (2) | % of Days | Average Daily TCE Revenue(1) | Expected Revenue Days (2) | Average Daily Revenue (1) | Expected Revenue Days (2) | % of Days | ||||||
| LR2 | $ | 32,700 | 2,456 | 86 | % | $ | 31,500 | 914 | $ | — | — | 100 | % |
| MR | $ | 23,500 | 3,707 | 85 | % | $ | 22,500 | 454 | $ | 12,750 | 41 | 100 | % |
| Handymax | $ | 20,500 | 1,183 | 67 | % | $ | 23,000 | 91 | $ | — | — | 100 | % |
Posted In: STNG
