Monaco-headquartered product tanker owner Scorpio Tankers has fixed two of its LR2 product carriers on five-year time charters at a rate of $29,000 per day, reinforcing its forward earnings visibility amid a tightening product tanker market.
The New York-listed company said the 2015-built, 110,000 dwt STI Rose and STI Alexis have been chartered to an undisclosed counterparty, with both contracts commencing in the first quarter of 2026.
The fixtures follow an earlier attempt to place the STI Rose with Swiss-based AB Commodities in early September 2025. That deal ultimately failed to materialise, with market sources telling Splash the breakdown was linked to “Scorpio’s unwillingness to deliver the vessels in accordance with the governing charter parties”.
Led by Emanuele Lauro, Scorpio Tankers controls a fleet of 93 product tankers, comprising 37 LR2s, 42 MRs and 14 handymax vessels, with an average fleet age of 9.8 years.
Beyond its existing fleet, the company continues to expand its footprint. Scorpio has agreements in place for four MR newbuilds, alongside two VLCCs and additional LR2s, scheduled for delivery between 2026 and the second half of 2028.