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Scorpio Tankers ( (STNG) ) has provided an update.
Scorpio Tankers Inc. announced commitments for a new $500 million revolving credit facility from a group of financial institutions, which will support its operations with flexible financing options. The facility, backed by 26 unencumbered product tankers, offers a seven-year maturity, a drawdown feature, and an accordion option for additional funding, positioning the company for strategic financial management and potential growth.
More about Scorpio Tankers
Scorpio Tankers Inc. is a global provider of marine transportation services for petroleum products. The company owns or lease finances a fleet of 100 product tankers, including LR2, MR, and Handymax tankers, with an average age of 8.7 years. Scorpio Tankers operates in the petroleum transportation industry and is involved in the sale of tankers, with plans to sell one MR tanker by the end of 2024.
YTD Price Performance: -19.31%
Average Trading Volume: 839,736
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $2.55B
For a thorough assessment of STNG stock, go to TipRanks’ Stock Analysis page.
