Debt ReductionScorpio Tankers sold three of its 99 vessel fleet for $164 million, effectively reducing its pro-forma net debt position to a relatively minor $131 million.
Financial PerformanceSTNG's annualized EPS is expected to return to the $10-11 range, showcasing strong financial performance.
Tanker RatesProduct tanker rates have demonstrated counter-seasonal strength due to increased sanctions on Russian trade, reduced competition from crude tankers for clean cargoes, and an increase in long-haul trades from shifting refinery capacity.