Somewhat appropriate that Scorpio Tankers (STNG) use orange coloring for their logo, which then blends into their slides. Company announced results on 10/30/25. STNG are one of those companies that make top-line numbers tricky to capture.
- Adjusted EBITDA of $148.1M
- Adjusted Net Income of $72.7M
- TCE daily avg: LR2 $31,482 MR2 $23,982 Handymax $19,784
- Declared div of 42c/sh (hike from 40c/sh)
- During the quarter, trimmed their investment in DHT.
- Slide 12 has some details on port fees
- There’s the rev figure TCE rev of $232.9M (slide 17)
Scorpio used to primarily a spot market trader. Looks like their TC coverage has increased quite a bit - almost 20%. The company added additional coverage in Oct 2025, a 1-year deal @ $35k daily. STNG has taken major steps in reducing its debt over the last few years. This continues in Q4 2025 with another significant prepayment in the works.
Well managed entity. No STNG position currently. Had a nice profitable STNG trade with a nice entry price (below $40/sh) earlier in the year.