olivLaw · US equity research
Scorpio Tankers Inc. STNG
Deep Sea Foreign Transportation of Freight · SIC 4412 · Vertical: Deep Sea Foreign Transportation of Freight (SIC 4412)
Scorpio Tankers carries crude oil and refined petroleum products by sea with a fleet of ninety vessels whose weighted average age is about ten years. The company matters now because much of its fleet is exposed to spot markets and to disruptions from the conflict in Iran, which makes its earnings volatile.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Scorpio Tankers Inc. (STNG) stock was 85.05 USD (−2.62% on the day), with market capitalisation 4.4 bn USD, P/E 12.1 on diluted EPS of 7.03 USD over the last 12 months, dividend yield 1.87%, beta 0.35, 52-week range 49.51–95.07 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 48.6
- neutral
- Bollinger (20, 2)
- 78.83 – 93.24
- in the lower half of the band · %B 0.43 · band width 16.7%
- SMA 50 / 200
- 84.22 / 77.46
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.15 / 1.10
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −1.6% | −1.1% | −0.5 pp | — |
| 3 months | +14.9% | −0.5% | +15.3 pp | — |
| 6 months | +3.0% | +4.4% | −1.4 pp | — |
| Year to date | +67.3% | +12.3% | +55.0 pp | — |
| 1 year | +40.0% | +13.5% | +26.5 pp | +30.6% |
| 3 years | +45.3% | +76.4% | −31.2 pp | +34.6% |
| 5 years | +408.7% | +63.7% | +345.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 5-quarter history (min 3.8, median 6.1, max 7.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 585.0 m | 704.3 m | 915.9 m | 540.8 m | 1.6 bn | 1.3 bn | 1.2 bn | 938.2 m |
| Revenue YoY | +14.1% | +20.4% | +30.0% | −41.0% | +189.0% | −14.2% | −7.3% | −24.6% |
| Net income | -190.1 m | -48.5 m | 94.1 m | -234.4 m | 637.3 m | 546.9 m | 668.8 m | 344.3 m |
| Net income YoY | unavailable | unavailable | unavailable | −349.1% | unavailable | −14.2% | +22.3% | −48.5% |
| Diluted EPS | -5.46 | -0.97 | 1.67 | -4.28 | 10.34 | 10.03 | 13.15 | 7.03 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | −356.3% | unavailable | −3.0% | +31.1% | −46.5% |
| net % | -32.5% | -6.9% | 10.3% | -43.4% | 40.8% | 40.8% | 53.8% | 36.7% |
| Free cash flow | 31.7 m | 206.5 m | 419.4 m | 73.3 m | unavailable | unavailable | unavailable | -81.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 752.0 m USD
- Financial debt
- 600.1 m USD
- Net debt
- -151.9 m USD
- Equity
- 3.2 bn USD
- Total assets
- 3.9 bn USD
- Debt / equity
- 0.19x
- Current ratio
- 9.33x
- ROE
- 11.4%
- ROA
- 8.9%
- FCF margin
- -8.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 915.9 m | 540.8 m | 1.6 bn | 1.3 bn | 1.2 bn | 938.2 m | SEC (XBRL)· 20 Mar 2026verified |
| Operating income | 245.3 m | -90.5 m | 797.7 m | 705.2 m | 764.6 m | 355.2 m | SEC (XBRL)· 20 Mar 2026verified |
| Interest expense | 155.0 m | 144.1 m | 169.8 m | 183.2 m | 109.5 m | 80.1 m | SEC (XBRL)· 20 Mar 2026verified |
| Net income | 94.1 m | -234.4 m | 637.3 m | 546.9 m | 668.8 m | 344.3 m | SEC (XBRL)· 20 Mar 2026verified |
| Diluted EPS | 1.67 | -4.28 | 10.34 | 10.03 | 13.15 | 7.03 | SEC (XBRL)· 20 Mar 2026verified |
| Weighted average diluted shares | 56.4 m | 54.7 m | 63.5 m | 54.5 m | 50.9 m | 48.9 m | SEC (XBRL)· 20 Mar 2026verified |
| Dividend per share | 0.40 | 0.40 | 0.38 | 1.09 | 1.67 | 1.59 | SEC (XBRL)· 20 Mar 2026derived |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 187.5 m | 230.4 m | 376.9 m | 355.6 m | 332.6 m | 752.0 m | SEC (XBRL)· 20 Mar 2026verified |
| Receivables | 33.0 m | 38.1 m | 276.7 m | 203.5 m | 150.2 m | 180.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Inventories | 9.3 m | 8.8 m | 15.6 m | 7.8 m | 10.2 m | 11.9 m | SEC (XBRL)· 20 Mar 2026verified |
| Current assets | 242.2 m | 289.2 m | 687.3 m | 577.1 m | 576.3 m | 1.1 bn | SEC (XBRL)· 20 Mar 2026verified |
| Property, plant & equipment, net | 4.0 bn | 3.8 bn | 3.1 bn | 3.6 bn | 3.2 bn | 2.7 bn | SEC (XBRL)· 20 Mar 2026verified |
| Goodwill | 8.9 m | 8.9 m | 8.2 m | 8.2 m | 8.2 m | 8.2 m | SEC (XBRL)· 20 Mar 2026verified |
| Total assets | 5.2 bn | 5.0 bn | 4.6 bn | 4.2 bn | 3.8 bn | 3.9 bn | SEC (XBRL)· 20 Mar 2026verified |
| Accounts payable | 12.9 m | 35.1 m | 28.7 m | 10.0 m | 32.2 m | 34.0 m | SEC (XBRL)· 20 Mar 2026verified |
| Short-term debt | 172.7 m | 235.3 m | 31.5 m | 221.0 m | 122.8 m | 0 | SEC (XBRL)· 20 Mar 2026verified |
| Long-term debt | 971.2 m | 666.4 m | 264.1 m | 939.2 m | 665.9 m | 600.1 m | SEC (XBRL)· 20 Mar 2026verified |
| Current liabilities | 406.2 m | 527.8 m | 473.3 m | 510.4 m | 237.2 m | 118.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Total liabilities | 3.1 bn | 3.2 bn | 2.1 bn | 1.7 bn | 967.8 m | 718.8 m | SEC (XBRL)· 20 Mar 2026verified |
| Equity | 2.1 bn | 1.8 bn | 2.5 bn | 2.6 bn | 2.9 bn | 3.2 bn | SEC (XBRL)· 20 Mar 2026verified |
| Shares outstanding at year end | 58.1 m | 58.4 m | 61.3 m | 53.1 m | 49.9 m | 51.8 m | SEC (XBRL)· 20 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 419.4 m | 73.3 m | 769.3 m | 865.5 m | 825.2 m | 491.2 m | SEC (XBRL)· 20 Mar 2026verified |
| Capex | 0 | 0 | — | — | — | 572.6 m | SEC (XBRL)· 20 Mar 2026verified |
| Free cash flow | 419.4 m ≈ | 73.3 m ≈ | — | — | — | -81.4 m ≈ | SEC (XBRL)· 20 Mar 2026derived |
| Investing cash flow | -174.5 m | -52.3 m | 572.0 m | 43.6 m | 308.0 m | 272.2 m | SEC (XBRL)· 20 Mar 2026verified |
| Financing cash flow | -259.7 m | 21.9 m | -1.2 bn | -930.4 m | -1.2 bn | -344.1 m | SEC (XBRL)· 20 Mar 2026verified |
| Dividends paid | 23.3 m | 23.3 m | 23.3 m | 57.7 m | 83.5 m | 82.5 m | SEC (XBRL)· 20 Mar 2026verified |
| Share repurchases | 13.1 m | 0 | 161.4 m | 489.7 m | 335.6 m | 309.0 k | SEC (XBRL)· 20 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 31 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 4.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet67
- Valuation22
- Quality45
- Growth0
- Returns27
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 26.36 – 98.26 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E26.36 – 98.26 (Mid 55.83)28 companies used · median multiple 7.9x · quartiles 3.7x – 14.0xASC, CCEC, CISS, CMBT, CMRE, CTRM, DHT, DSX, ECO, EHLD, ESEA, FRO, GASS, GNK, GSL, IMPP, LPG, NMM, NVGS, PANL, PSHG, PXS, SHIP, TEN, TK, TOPS, TRMD, ZIM
- Dividend discount (DDM)outside the aggregate20.95 – 28.17 (Mid 24.03)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 31/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 9.4% | 54 (vs peers) | 14% |
| Net margin · Quality | 36.7% | 76 (vs peers) | 8% |
| FCF conversion · Quality | -23.6% | 0 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | -15.6% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -12.1% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 4.4x | 45 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 9.3x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 12.1x | 40 (vs peers) | 14% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -1.8% | 0 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 1.9% | 27 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet67/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality45/100 · 3/3 factors with a value
- Returns· partial27/100 · 1/2 factors with a value
- Valuation22/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Scorpio Tankers Inc. (STNG). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 938.2 m USD in 2025; YoY growth -24.6%; net margin 36.7%; ROE 11.4%.
The estimated value range is 26.36–98.26 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 55.83 USD, the price of 85.05 USD leaves a potential of -34.4% (value / price − 1) and a margin of safety of -52.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 31/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 36.7%
- Current ratio: 9.3x
What contradicts it
- FCF conversion: -23.6%
- Revenue CAGR 3Y: -15.6%
- EPS CAGR 3Y: -12.1%
- FCF yield: -1.8%
- Shareholder yield (distributions): 1.9%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Deep Sea Foreign Transportation of Freight (SIC 4412) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| FROFrontline plc | 10.8 bn | 28.5 | 15.6% | 19.2% | −8.8% | +106% / +144% |
| CMBTCmb.tech NV | 5.4 bn | 3.8 | 49.1% | 92.6% | −23.9% | +56% / −5% |
| STNGScorpio Tankers Inc. | 4.4 bn | 12.1 | 11.4% | 36.7% | −24.6% | +40% / +45% |
| TRMDTORM plc | 3.8 bn | 13.2 | 13.3% | 21.3% | −14.1% | +76% / +33% |
| DHTDht Holdings, Inc. | 3.5 bn | 16.8 | 19.4% | 42.4% | −12.8% | +69% / +121% |
| ZIMZim Integrated Shipping Services Ltd. | 3.4 bn | 7.1 | 11.9% | 6.9% | −18.1% | +39% / +306% |
| SBLKStar Bulk Carriers Corp. | 3.1 bn | 37.3 | 3.4% | 8.1% | −17.6% | +37% / +28% |
| ECOOkeanis Eco Tankers Corp. | 3.0 bn | 22.5 | 25.0% | 31.4% | −0.4% | +130% / +252% |
| NMMNavios Maritime Partners L.P. | 2.5 bn | 8.6 | — | 21.2% | +0.8% | +57% / +232% |
| LPGDorian Lpg Ltd. | 2.1 bn | 6.5 | 28.3% | 55.0% | +36.3% | +99% / +17% |
| SFLSFL Corporation Ltd. | 1.7 bn | — | -2.5% | -3.6% | −18.9% | +42% / +3% |
| CMRECostamare Inc. | 1.6 bn | 4.6 | 15.9% | 41.5% | −1.2% | −14% / +30% |
| GSLGlobal Ship Lease, Inc. | 1.4 bn | 3.5 | 25.5% | 54.3% | +7.8% | +14% / +118% |
| TENTsakos Energy Navigation Limited | 1.4 bn | 10.5 | 9.1% | 20.1% | −0.7% | +91% / +132% |
| NVGSNavigator Holdings Ltd | 1.3 bn | 13.9 | 8.2% | 17.1% | +3.6% | +14% / +40% |
| CCECCapital Clean Energy Carriers Corp. | 1.2 bn | 7.3 | 12.0% | — | +62.0% | +2% / +57% |
| TKTeekay Corporation Ltd. | 1.2 bn | 11.9 | 4.8% | 10.3% | −22.2% | +38% / +95% |
| GNKGenco Shipping & Trading Limited | 1.1 bn | 13.9 | 8.9% | 15.5% | −19.1% | +31% / +59% |
| SHIPSeanergy Maritime Holdings Corp. | 987.8 m | 14.3 | 7.8% | 13.4% | −5.6% | +37% / +98% |
| ASCArdmore Shipping Corp | 752.3 m | 21.0 | 6.6% | 13.2% | −23.6% | +51% / +36% |
| HSHPHimalaya Shipping Ltd. | 719.3 m | 40.6 | 11.2% | 13.4% | +6.7% | +72% / +157% |
| PANLPangaea Logistics Solutions Ltd. | 491.7 m | 10.1 | 11.0% | 6.7% | +17.8% | +7% / +7% |
| ESEAEuroseas Ltd. | 459.1 m | 3.3 | 33.1% | 60.1% | +7.0% | +8% / +172% |
| GASSStealthgas Inc. | 308.3 m | 5.1 | 9.2% | 35.0% | +3.5% | +21% / +24% |
| DSXDiana Shipping Inc. | 276.7 m | 21.7 | 3.5% | 8.3% | −6.4% | +21% / −30% |
1- and 3-year price returns: for STNG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 43.02 Total return -48% · Per year -48% | 76.45 Total return -8% · Per year -8% | 115.67 Total return 38% · Per year 38% |
| 3 years | 34.16 Total return -56% · Per year -24% | 68.99 Total return -14% · Per year -5% | 115.67 Total return 42% · Per year 12% |
| 5 years | 27.13 Total return -63% · Per year -18% | 62.27 Total return -19% · Per year -4% | 115.67 Total return 46% · Per year 8% |
- Exit P/E± 17.25
- Net margin± 12.07
- Annual revenue growth± 10.90
- Annual dilution± 1.01
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 20 Mar 2026; since then the company filed 6-K (28 Oct 2026), 6-K (19 Oct 2026), 6-K (07 Oct 2026), 6-K (30 Sept 2026), 6-K (03 Sept 2026), 6-K (17 Aug 2026).
In brief
Scorpio Tankers carries crude oil and refined petroleum products by sea with a fleet of ninety vessels whose weighted average age is about ten years. The company matters now because much of its fleet is exposed to spot markets and to disruptions from the conflict in Iran, which makes its earnings volatile.1
SWOT
Strengths
- A relatively young fleet across LR2, MR and Handymax classes, with a large share employed in scaled commercial pools.
- A mix of long-term charters and spot exposure lets the company capture upside while limiting part of the downside.
- Management through affiliated entities gives access to pools and an extensive operating network.
Weaknesses
- Reliance on the spot market and spot-oriented pools exposes revenue to rapid declines in rates.
- Related-party relationships create potential conflicts of interest with the commercial and technical managers.
- An ageing fleet could raise operating costs and reduce appeal to some charterers.
Opportunities
- Long-term charters signed in 2026 could stabilize revenue and support dividends over the medium term.
- Renewing the fleet with newbuildings could lower operating costs and improve regulatory compliance.
- Disruptions to shipping routes could lift demand for certain segments if rates remain high.
Threats
- Oversupply from newbuilding orders could press rates lower across the market.
- Environmental regulation and trade sanctions could restrict routes or raise costs.
- A decline in oil demand driven by the energy transition could reduce transported volumes.
Risks
- Charter rate volatilityhigh
Revenue from the spot market and pools is sensitive to rate swings, and in the past rates have fallen below vessel operating costs.1
- Indebtedness and covenantshigh
Existing debt limits available funds, and financing agreements contain covenants that, if breached, could trigger a default.1
- Iran conflict riskmedium
The conflict has disrupted routes and prices, and the company says the effect on demand cannot be predicted.1
- Related-party conflictsmedium
The commercial and technical managers belong to the Scorpio group, which may create conflicts of interest.1
- Impairment and vessel salesmedium
Declines in vessel values could limit borrowing and could lead to losses on sales or impairment charges.1
Investment thesis
What would need to be true (bull case)
- If rates stay high amid route disruptions, the relatively young fleet and pool exposure could generate above-average revenue.
- Five- and eight-year charters signed in 2026 could stabilize cash flow and support distributions to shareholders.
- Selling older vessels and adding newbuildings could improve fleet efficiency over the medium term.
What would break the thesis
- A large orderbook of newbuildings could press spot rates lower and reduce spot-market revenue.
- Debt and financial covenants could limit flexibility if the market deteriorates.
- Related-party arrangements and reliance on pool structures could make cost and revenue transparency harder to assess.
What to watch
- Closing of the vessel sales announced in March 2026 and their effect on fleet and debtQ1 2026
- Commencement of the eight-year STI Rambla charter and its effect on revenueQ2 2026
- Spot rate trends and the effect of the Iran conflict on shipping routes2026
- Delivery schedule of newbuildings and any shipyard delays2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 20 Mar 2026; since then the company filed 6-K (28 Oct 2026), 6-K (19 Oct 2026), 6-K (07 Oct 2026), 6-K (30 Sept 2026), 6-K (03 Sept 2026), 6-K (17 Aug 2026).
The business
Scorpio Tankers Inc., incorporated in the Marshall Islands and headquartered in Monaco, provides seaborne transportation of crude oil and refined petroleum products worldwide, with shares listed on the NYSE under STNG. As of March 19, 2026 its fleet consisted of 90 wholly owned tankers, 34 LR2, 42 MR and 14 Handymax, with a weighted average age of about 10.1 years.1 The company deploys vessels through a mix of commercial pools, time charters and spot exposure. Of the 90 vessels, 72 operated in the Scorpio Pools as of March 19, 2026.1
In March 2026 the company commenced a five-year time charter-out for the LR2 STI Lombard at $33,000 per day and agreed an eight-year charter-out for STI Rambla at $30,500 per day, expected to commence in the first or second quarter of 2026.1 In February 2026 the board declared a quarterly cash dividend of $0.45 per common share.1 If these long-term commitments hold, they could reduce reliance on the spot market.
The company sold several older vessels in January and February 2026 and in March 2026 agreed to sell three more, with closings expected in the first or second quarter of 2026.1 In February 2026 it declared options on two newbuilding LR2 tankers under construction in China at $68.5 million per vessel, with deliveries scheduled for 2029.1
Segments
Commercial pools
Most of the fleet, 72 of the 90 vessels operating as of March 19, 2026, is employed in the Scorpio Pools (SLR2P, SMRP, SHTP), which are managed by companies in the Scorpio group.1 Pool and spot revenues are more volatile because they are tied to market rates.1
Time and bareboat charters
Long-term charters give fixed revenue over a known period and partly offset the seasonality of the spot market. As of December 31, 2025, 14 vessels were on long-term charter-out agreements and one was on a long-term bareboat charter-out.1 The company says it may opportunistically enter more vessels into time charters.1
Market context
The seaborne oil tanker market is cyclical and volatile, and charter rates depend on oil demand, transport distances and the supply of new vessels.1 The company notes that the supply and demand factors are largely outside its control.1 The conflict in Iran has disrupted major routes such as the Strait of Hormuz and raised oil and product prices, which could affect demand.1
Tanker rates are typically stronger in northern hemisphere winter and weaker in summer, and historically revenues have been weaker in the second and third quarters.1 Oil price volatility has historically increased trading activity in winter months.1
Trends
- Conflict in Iran and shipping routesmixed
Disruption in the Strait of Hormuz and higher oil prices could support rates on some routes, but may also reduce demand, and the company cannot predict the net effect.1
- Newbuilding supplyheadwind
The large number of tankers on order at shipyards could increase global fleet capacity and press rates lower.1
- Long-term charterstailwind
Five- and eight-year charters signed in 2026 could stabilize revenue and reduce exposure to spot volatility.1
- Environmental rules and fleet ageheadwind
Emissions and fuel efficiency rules could shorten the useful life of older vessels and raise compliance costs.1
Competitive position
The product tanker market is highly competitive, and the company says that if it cannot operate its vessels profitably it may be unsuccessful in competing.1 Competition also comes from other modes of transport and alternative energy sources.1
Commercial pools let owners raise utilization through contracts of affreightment and backhaul voyages, so relative performance depends on the scale and efficiency of such structures.1
- Other pool operators and product tanker owners
The source does not name individual competitors; it refers generally to other shipowners in the product tanker market.
- Crude oil tanker operators
The company refers to competition from other shipping companies in oil and product transport without naming them.
- Alternative energy sources
Alternative energy could reduce demand for seaborne oil transport.
- Other transport modes
Pipelines and other land transport can compete with seaborne transport on some routes.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Why Scorpio Tankers Stock Dropped TodayYahoo Finance — News · 22 Sept 2026 · EN
- IBD Stock Of The Day Scorpio Tankers Sails Toward Buy Point As Oil-Needy World Seeks Its ServicesYahoo Finance — News · 15 Sept 2026 · EN
- Scorpio Gold Drilling Intersects 3.02 g/t Gold Over 48.92 Metres at GoldwedgeYahoo Finance — News · 02 Sept 2026 · EN
- Australian police close in on ‘Scorpio’, mystery author of threatening letters to high-profile peopleThe Guardian World · 30 Jun 2026 · RO
The latest news item in our archive is from 22 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (foreign issuer)28 Oct 2026
- Current report (foreign issuer)19 Oct 2026
- Current report (foreign issuer)07 Oct 2026
- Current report (foreign issuer)30 Sept 2026
- Current report (foreign issuer)03 Sept 2026
- Current report (foreign issuer)17 Aug 2026
- Current report (foreign issuer)30 Jul 2026
- Current report (foreign issuer)22 Jul 2026
- Current report (foreign issuer)01 Jul 2026
- Current report (foreign issuer)18 Jun 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Scorpio Tankers Inc. · 20 Mar 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.