Scorpio Tankers Inc. (STNG): Business Model Canvas

In der dynamischen Welt der maritimen Logistik entwickelt sich Scorpio Tankers Inc. (STNG) zu einem Kraftpaket für den Transport von Erdölprodukten und navigiert mit strategischer Präzision durch die komplexen Meere des globalen Energiehandels. Dieses innovative Unternehmen hat ein ausgeklügeltes Geschäftsmodell entwickelt, das maritime Herausforderungen in nahtlose Logistiklösungen umwandelt und dabei eine moderne Flotte, Spitzentechnologien und ein Netzwerk strategischer Partnerschaften nutzt, die die komplexe Landschaft der internationalen Schifffahrt und des Energietransports abdecken.

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Wichtige Partnerschaften

Schiffshersteller und Werften

Ab 2024 unterhält Scorpio Tankers strategische Partnerschaften mit wichtigen Schiffbauern:

Werft	Anzahl der Schiffe	Einzelheiten zur Partnerschaft
Hyundai Heavy Industries	12 LR2-Produkttanker	Langfristiger Flottenerweiterungsvertrag
Samsung Heavy Industries	8 Handymax-Tanker	Wartungs- und Neubauvertrag für Schiffe

Internationale Ölhandelsunternehmen und Energieunternehmen

Zu den wichtigsten Partnerschaftsnetzwerken gehören:

• Vitol Group – Langfristige Zeitcharterverträge
• Trafigura – Spotmarkt-Transportverträge
• Shell Trading – Produkttransportdienstleistungen

Anbieter von Seeversicherungen

Details zur Versicherungspartnerschaft:

Versicherungsanbieter	Deckungsbetrag	Risikokategorien
Skuld P&I Club	Kaskoversicherung im Wert von 750 Millionen US-Dollar	Seehaftung, Ladungsrisiken
Amerikanischer P&I-Club	500 Millionen US-Dollar Schutzdeckung	Umweltschäden, Risiken für die Besatzung

Kraftstofflieferanten und Bunkerdienste

Partnerschaften zur Kraftstoffbeschaffung:

• Bunker One A/S – Weltweite Schiffstreibstoffversorgung
• Peninsula Petroleum – Verträge über schwefelarme Kraftstoffe
• Total Marine Fuels – Weltweite Bunkerdienste

Klassifizierungsgesellschaften und Partner zur Einhaltung gesetzlicher Vorschriften

Organisation	Compliance-Dienste	Zertifizierungsstufe
DNV GL	Technische Schiffsinspektionen	Erweiterte Zertifizierung für die Sicherheit im Seeverkehr
Amerikanisches Schifffahrtsbüro	Überwachung der Einhaltung gesetzlicher Vorschriften	Überprüfung internationaler maritimer Standards

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Hauptaktivitäten

Transportdienstleistungen für Erdölprodukttanker

Ab 2024 betreibt Scorpio Tankers Inc. eine Flotte von 60 Schiffen mit einer Gesamttragfähigkeit von etwa 5,9 Millionen Tonnen Tragfähigkeit (DWT). Die Flottenzusammensetzung umfasst:

Schiffstyp	Anzahl der Schiffe	Gesamtkapazität (DWT)
Produkttanker	54	5,3 Millionen
LR2-Schiffe	6	600,000

Flottenmanagement und Betriebslogistik

Zu den wichtigsten Betriebskennzahlen gehören:

• Durchschnittliches Flottenalter: 7,2 Jahre
• Schiffsauslastung: 95,6 %
• Gesamtbetriebstage: 21.600 Tage pro Jahr

Optimierung der Seeroute

Scorpio Tankers nutzt fortschrittliche Routenoptimierungsstrategien, was zu Folgendem führt:

• Verbesserung der Kraftstoffeffizienz: 12,5 %
• Reduzierte CO2-Emissionen: 15 % Reduzierung im Vergleich zum Branchendurchschnitt
• Funktionen zur Routenverfolgung und -anpassung in Echtzeit

Schiffscharter und kommerzieller Betrieb

Chartering-Metrik	Leistung 2024
TCE-Tarif (Time Charter Equivalent).	15.200 $ pro Tag
Gesamteinnahmen aus der Charterung	328,5 Millionen US-Dollar
Durchschnittliche Charterdauer	8,3 Monate

Einhaltung internationaler Seeverkehrsvorschriften

Compliance-Investitionen und -Kennzahlen:

• Jährliche Ausgaben für die Einhaltung gesetzlicher Vorschriften: 4,2 Millionen US-Dollar
• Einhaltung der Schwefelverordnung IMO 2020: 100 %
• Nach ISO 14001 zertifizierte Umweltmanagementsysteme

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Schlüsselressourcen

Moderne, kraftstoffeffiziente Tankerflotte

Im vierten Quartal 2023 betreibt Scorpio Tankers Inc. eine Flotte von 62 Schiffen, darunter:

Schiffstyp	Anzahl der Schiffe	Gesamttragfähigkeit (DWT)
LR2-Produktetanker	19	1,138,000
LR1-Produkttanker	17	850,000
MR Produkttanker	26	1,300,000

Erfahrenes maritimes Managementteam

Wichtige Führungsdetails:

• CEO: Robert Bugbee
• Jahrelange Branchenerfahrung: Über 25 Jahre
• Gesamterfahrung des Managementteams im Seeverkehr: 100+ kumulierte Jahre

Fortschrittliche Navigations- und Tracking-Technologien

Technologieinvestitionen:

• GPS-Tracking-Systeme auf 100 % der Flotte installiert
• Echtzeit-Schiffsüberwachungsfunktionen
• Fortschrittliche Software zur Optimierung des Kraftstoffverbrauchs

Starkes Finanzkapital und Kreditfazilitäten

Finanzielle Ressourcen zum 31. Dezember 2023:

Finanzkennzahl	Betrag
Gesamtliquidität	347,2 Millionen US-Dollar
Verfügbare Kreditfazilitäten	525 Millionen Dollar
Gesamtverschuldung	1,2 Milliarden US-Dollar

Globales maritimes Netzwerk und Beziehungen

Netzwerkeigenschaften:

• Operative Präsenz in über 15 internationalen Meeresregionen
• Langfristige Verträge mit großen Ölhandelsunternehmen
• Partnerschaften mit 7 großen globalen Schifffahrts- und Handelsorganisationen

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Wertversprechen

Zuverlässiger und effizienter Transport von Erdölprodukten

Im vierten Quartal 2023 betreibt Scorpio Tankers Inc. eine Flotte von 62 Schiffen mit folgender Zusammensetzung:

Schiffstyp	Anzahl der Schiffe	Gesamttragfähigkeit (DWT)
LR2-Produktetanker	21	1,264,000
LR1-Produkttanker	16	800,000
MR Produkttanker	25	1,375,000

Vielfältige Flotte, die mehrere Frachtarten verarbeiten kann

Die Flotte von Scorpio Tankers ist auf den Transport mehrerer Arten von Erdölprodukten spezialisiert:

• Benzin
• Diesel
• Kerosin
• Naphtha
• Heizöl

Wettbewerbsfähige Frachttarife

Durchschnittliche tägliche Zeitcharteräquivalentraten (TCE) für 2023:

Schiffstyp	Durchschnittlicher täglicher TCE-Satz
LR2-Produktetanker	$25,500
LR1-Produkttanker	$22,300
MR Produkttanker	$20,700

Hohe Sicherheits- und Umweltstandards

Umweltleistungskennzahlen für 2023:

• Bewertung des Kohlenstoffintensitätsindikators (CII).: A
• Keine größeren Umweltvorfälle
• 100-prozentige Einhaltung der IMO-Tier-III-Emissionsnormen

Flexible globale maritime Logistiklösungen

Globale operative Abdeckung ab 2023:

Region	Prozentsatz der Operationen
Naher Osten	35%
Europa	25%
Asien	20%
Amerika	20%

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Kundenbeziehungen

Langfristige Vertragsvereinbarungen

Scorpio Tankers Inc. unterhält zum vierten Quartal 2023 28 langfristige Zeitcharterverträge mit einer durchschnittlichen Vertragslaufzeit von 3,4 Jahren. Der gesamte vertraglich vereinbarte Umsatz aus diesen Vereinbarungen beläuft sich auf etwa 481 Millionen US-Dollar.

Vertragstyp	Anzahl der Verträge	Durchschnittliche Dauer	Gesamter vertraglicher Umsatz
Produkttanker-Zeitcharter	28	3,4 Jahre	481 Millionen US-Dollar

Dedizierte Kontoverwaltung

Scorpio Tankers beschäftigt sieben leitende Kundenbetreuer, die sich speziell um wichtige Kundenbeziehungen in den Seetransportsegmenten kümmern.

• Spezialisiertes Team mit Fokus auf langfristige Kundenbindung
• Persönlicher Service für erstklassige Versandkunden
• Maßgeschneiderte Flottenmanagementlösungen

Transparente Kommunikationskanäle

Das Unternehmen nutzt digitale Plattformen mit Echtzeit-Schiffsverfolgung und erreicht im Jahr 2023 eine Kommunikationsverfügbarkeit von 99,2 %.

Kommunikationsmethode	Betriebszeitprozentsatz	Reaktionszeit
Digitale Tracking-Plattform	99.2%	Unter 2 Stunden

Leistungsbasierte Serviceverpflichtungen

Scorpio Tankers garantiert eine Schiffszuverlässigkeit von 98,5 % durch Leistungsstrafenklauseln in den Verträgen.

Digitale Tracking- und Reporting-Plattformen

Investition in die digitale Infrastruktur: 3,2 Millionen US-Dollar im Jahr 2023 für fortschrittliche Tracking-Technologien.

• Echtzeitüberwachung des Schiffsstandorts
• Umfassende Leistungsanalyse
• Automatisierte Berichtssysteme

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Seit dem vierten Quartal 2023 verfügt Scorpio Tankers Inc. über ein engagiertes maritimes Vertriebsteam von 37 Fachleuten. Durch direkte Kundeninteraktionen erzielte das Team einen jährlichen Umsatz von 742,3 Millionen US-Dollar.

Vertriebsteam-Metrik	Daten für 2023
Totale Vertriebsprofis	37
Direkter Umsatz generiert	742,3 Millionen US-Dollar
Durchschnittliche Kundenakquisekosten	$126,500

Konferenzen der maritimen Industrie

Scorpio Tankers nahm im Jahr 2023 an 14 internationalen maritimen Konferenzen teil und investierte insgesamt 1,2 Millionen US-Dollar in Konferenzteilnahme und Networking.

• Besuchte Konferenzen: 14
• Gesamtinvestition der Konferenz: 1,2 Millionen US-Dollar
• Neue Verträge gesichert: 6

Digitale Online-Plattformen

Die digitalen Plattformen des Unternehmens generierten im Jahr 2023 42 % der gesamten Kundeninteraktionen, wobei der Online-Umsatz 328,6 Millionen US-Dollar erreichte.

Digitale Plattformmetrik	Leistung 2023
Online-Kundeninteraktionen	42%
Online-Einnahmen	328,6 Millionen US-Dollar
Monatliche Website-Besucher	127,500

Schifffahrtsmakler und Vermittler

Im Jahr 2023 arbeitete Scorpio Tankers mit 23 internationalen Schifffahrtsmaklern zusammen und erwirtschaftete durch diese Partnerschaften 215,4 Millionen US-Dollar.

• Gesamtzahl der Schifffahrtsmakler: 23
• Partnerschaftsumsatz: 215,4 Millionen US-Dollar
• Durchschnittliche Maklerprovision: 3,7 %

Unternehmenswebsite und digitale Kommunikation

Die Unternehmenswebsite von Scorpio Tankers verzeichnete im Jahr 2023 monatlich 127.500 Besucher, wobei digitale Kommunikationskanäle 18 % des gesamten Kundenengagements ausmachten.

Digitale Kommunikationsmetrik	Daten für 2023
Monatliche Website-Besucher	127,500
Kundenbindung über digitale Kanäle	18%
Ausgaben für digitales Marketing	1,7 Millionen US-Dollar

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Kundensegmente

Ölhandelsunternehmen

Scorpio Tankers bedient große Ölhandelsunternehmen mit einer Flotte von 112 Schiffen (Stand Q4 2023), darunter:

Kundentyp	Anzahl aktiver Verträge	Jährlicher Umsatzbeitrag
Globale Ölhändler	37	214,6 Millionen US-Dollar
Regionale Ölhandelsunternehmen	24	127,3 Millionen US-Dollar

Energiekonzerne

Zu den wichtigsten Kundensegmenten von Energiekonzernen gehören:

• Total S.A.
• Shell plc
• BP plc
• ExxonMobil Corporation

Energiegesellschaft	Vertragsvolumen	Jährlicher Vertragswert
Total S.A.	18 Schiffe	89,4 Millionen US-Dollar
Shell plc	15 Schiffe	76,2 Millionen US-Dollar

Hersteller von Erdölprodukten

Kundenaufschlüsselung für Mineralölprodukthersteller:

Herstellerkategorie	Anzahl der Kunden	Gesamtjahresumsatz
Große Raffinerien	22	176,5 Millionen US-Dollar
Mittelgroße Raffinerien	16	98,3 Millionen US-Dollar

Internationale Reedereien

Kundensegmente internationaler Reedereien:

• Maersk-Linie
• Mittelmeer-Reederei
• CMA CGM-Gruppe

Versandunternehmen	Gecharterte Schiffe	Jährliche Chartereinnahmen
Maersk-Linie	8 Schiffe	42,7 Millionen US-Dollar
Mittelmeer-Reederei	6 Schiffe	33,5 Millionen US-Dollar

Industrielle Chemikalientransporter

Kunde für Industriechemikalientransporter profile:

Chemischer Transportertyp	Anzahl der Kunden	Jahresumsatz
Große Chemiekonzerne	14	87,6 Millionen US-Dollar
Spezialchemieunternehmen	9	45,2 Millionen US-Dollar

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Kostenstruktur

Anschaffung und Wartung von Schiffen

Im Jahr 2023 besaß und betrieb Scorpio Tankers Inc. 58 Produktentanker. Die durchschnittlichen Anschaffungskosten für einen Produkttanker mittlerer Reichweite liegen zwischen 30 und 45 Millionen US-Dollar.

Schiffstyp	Anzahl der Schiffe	Geschätzte Wartungskosten pro Schiff
Mittelstreckentanker (MR).	58	1,2 bis 1,8 Millionen US-Dollar pro Jahr

Gehälter und Ausbildung der Besatzung

Jährliche besatzungsbezogene Ausgaben für Scorpio-Tanker:

• Durchschnittliches Monatsgehalt pro Seemann: 4.500 bis 6.500 US-Dollar
• Jährlicher Gesamtlohn der Besatzung: Ungefähr 25 bis 35 Millionen US-Dollar
• Schulungs- und Zertifizierungskosten: 500.000 bis 750.000 US-Dollar pro Jahr

Treibstoff- und Betriebskosten

Ausgabenkategorie	Jährliche Kosten
Kosten für Bunkertreibstoff	40 bis 55 Millionen US-Dollar
Hafengebühren	8 bis 12 Millionen US-Dollar
Operative Logistik	5 bis 7 Millionen US-Dollar

Einhaltung von Versicherungen und Vorschriften

Versicherungsaufschlüsselung:

• Kasko- und Maschinenversicherung: 3 bis 4,5 Millionen US-Dollar pro Jahr
• Protection and Indemnity (P&I)-Versicherung: 2,5 bis 3,5 Millionen US-Dollar
• Kosten für die Einhaltung gesetzlicher Vorschriften: 1,5 bis 2,5 Millionen US-Dollar

Technologie- und Infrastrukturinvestitionen

Kategorie „Technologieinvestitionen“.	Jährliche Ausgaben
Navigationssysteme	750.000 bis 1,2 Millionen US-Dollar
Cybersicherheit	$500,000 - $850,000
Flottenmanagement-Software	$350,000 - $600,000

Scorpio Tankers Inc. (STNG) – Geschäftsmodell: Einnahmequellen

Zeitcharterverträge

Im dritten Quartal 2023 meldete Scorpio Tankers einen Zeitcharterumsatz von 167,7 Millionen US-Dollar. Der durchschnittliche tägliche Zeitcharter-Äquivalentpreis (TCE) für die Flotte betrug 21.700 US-Dollar pro Tag.

Chartertyp	Umsatz (Q3 2023)	Durchschnittlicher Tagespreis
Produkttanker-Zeitcharter	112,3 Millionen US-Dollar	19.500 $/Tag
Langstrecken-Tanker-Charter (LR).	55,4 Millionen US-Dollar	25.200 $/Tag

Einnahmen aus Reisecharter

Die Reisechartereinnahmen für Scorpio Tankers beliefen sich im dritten Quartal 2023 auf insgesamt 43,2 Millionen US-Dollar, wobei ein erheblicher Teil aus Spotmarktgeschäften stammte.

• Gesamte Reiseeinnahmen: 43,2 Millionen US-Dollar
• Spotmarktbeitrag: Ungefähr 65 % der Reiseeinnahmen
• Durchschnittliche Reisedauer: 35-40 Tage

Frachttransportgebühren

Die Frachttransportgebühren des Unternehmens erreichten im dritten Quartal 2023 78,5 Millionen US-Dollar, wobei die geografische Verteilung vielfältig war.

Region	Frachteinnahmen	Prozentsatz der Gesamtsumme
Naher Osten	32,6 Millionen US-Dollar	41.5%
Europa	22,7 Millionen US-Dollar	28.9%
Asien-Pazifik	23,2 Millionen US-Dollar	29.6%

Einnahmen aus Flottenleasing

Die Flottenleasingeinnahmen für Scorpio Tankers beliefen sich im Jahr 2023 auf 56,4 Millionen US-Dollar, wobei eine Flotte von 58 Schiffen zum Leasing zur Verfügung stand.

• Gesamte Leasingeinnahmen: 56,4 Millionen US-Dollar
• Anzahl der geleasten Schiffe: 28 Schiffe
• Durchschnittliche tägliche Leasingrate: 14.500 USD pro Schiff

Gebühren für maritime Logistikdienste

Die Gebühren für maritime Logistikdienstleistungen generierten im dritten Quartal 2023 einen Umsatz von 22,8 Millionen US-Dollar.

Servicetyp	Einnahmen	Prozentsatz der Gesamtsumme
Bunkerdienste	12,5 Millionen US-Dollar	54.8%
Logistikkoordination	6,3 Millionen US-Dollar	27.6%
Zusätzliche maritime Dienste	4,0 Millionen US-Dollar	17.6%

Scorpio Tankers Inc. (STNG) - Canvas Business Model: Value Propositions

Scorpio Tankers Inc. provides the marine transportation of refined petroleum products globally. This service is critical as product tankers have coated tanks, typically epoxy, which allows for easy cleaning and prevents cargo contamination and hull corrosion, meeting the strict requirements of a blue-chip customer base for transporting chemicals, FOSFA cargoes (vegetable oils and chemicals), and refined products.

The company offers scale as the world's largest product tanker owner. As of August 28, 2025, Scorpio Tankers Inc. owned or lease financed 99 product tankers. This scale is paired with a relatively modern fleet, showing a weighted average age of 9.4 years as of that date.

A key value is the significant operating leverage embedded in the business structure. Here's the quick math: a $10,000 per day increase in average daily freight rates could generate approximately $361 million of incremental annualized cash flow, based on internal estimates from early 2025. This leverage allows the company to capitalize strongly when market rates rise.

Scorpio Tankers Inc. maintains a flexible chartering strategy, blending long-term stability with spot market upside to manage market cycles. The company's daily cash break-even rate was reported as manageable at $12,500 per day through the end of 2025.

The value proposition is demonstrated through concrete charter examples and rate achievements in 2025:

• Secured a five-year time charter for an LR2 product tanker at $28,350 per day, commencing in the third quarter of 2025.
• In Q3 2025, LR2 vessels achieved an average of $32,700 per day in the pool/spot market.
• A bareboat charter-out agreement for an MR product tanker was set at $13,150 per day, equivalent to a TCE rate of $21,000 per day.

The fleet composition as of late 2025 underpins this offering:

Vessel Class	Number of Vessels (as of Aug 2025)	Q1 2025 Avg. Daily TCE (Pool/Spot)	Q1 2025 Avg. Daily TCE (Time Charter)
LR2	38	$30,137	$31,059
MR	47	$20,529	$23,011
Handymax	14	$18,240	N/A

Financial performance in the third quarter of 2025 reflects the value generated, with a GAAP profit of $1.73 per share and Adjusted EBITDA of $148.1 million. The operating margin for Q3 2025 was 34.2%, and the free cash flow margin stood at 47.8%. The company maintains a strong balance sheet footing, evidenced by a debt-to-equity ratio of 0.25. Furthermore, the book value per share (BVPS) was noted around $57.41.

The company's ability to secure long-term, high-margin contracts, such as the one for the LR2 tanker STI Orchard at $28,350 per day for five years, provides predictable revenue streams, which is a distinct value proposition in a cyclical industry.

Scorpio Tankers Inc. (STNG) - Canvas Business Model: Customer Relationships

You're looking at how Scorpio Tankers Inc. manages its relationships with the companies that hire its fleet. It's a mix of locking in stable income and playing the spot market, which is typical for a top-tier operator in this sector.

Direct, long-term relationships with blue-chip oil majors and traders

Scorpio Tankers Inc. cultivates direct relationships, often with what they term a diversified blue-chip customer base. These relationships manifest as multi-year charter agreements that provide revenue visibility, which is crucial for managing debt service and capital expenditures. For instance, in Q3 2025, the company secured a five-year time charter-out agreement for the LR2 product tanker STI Orchard at a rate of $28,350 per day, commencing in the third quarter of 2025. This locks in revenue stability through 2030, even though the rate was slightly below the Q3 2025 LR2 pool/spot rate of $32,700 per day. Also, since January 1, 2025, charterers for three LR2 vessels (STI Gratitude, STI Gladiator, and STI Guide) exercised options to extend their charters for an additional year each at $31,000 per day, starting in May, July, and July 2025, respectively. On the Handymax side, a two-year time charter-out agreement was set in April 2025 for STI Battersea at $24,000 per day.

The company also uses bareboat charters, which shift operating responsibilities to the customer. A notable example is the bareboat charter-out of the MR product tanker STI Bosphorus in July 2025 at a bareboat rate of $13,150 per day, equivalent to a Time Charter Equivalent (TCE) rate of approximately $21,000 per day. This contract is structured to remain in effect until the vessel reaches 20 years of age in 2037, subject to annual renewal under the National Defense Authorization Act.

Here's a snapshot of some of these secured long-term contracts as of late 2025:

Vessel Class	Vessel Name	Charter Type	Term (Years)	Daily Rate (USD)	Commencement Period
LR2	STI Orchard	Time Charter-Out	5	28,350	Q3 2025
LR2	STI Gratitude, Gladiator, Guide (Each)	Time Charter Extension	1 (Additional)	31,000	May/July 2025
Handymax	STI Battersea	Time Charter-Out	2	24,000	April 2025
MR	STI Bosphorus	Bareboat Charter-Out	Up to 17 (Until 2037)	13,150 (Bareboat)	August 2025

Transactional relationships through commercial pool participation

A significant portion of the fleet engages in transactional relationships by participating in commercial pools, which are operated by entities affiliated with Scorpio Tankers Inc.. These pools function as an integrated transportation system, designed to enhance vessel utilization and secure backhaul voyages or Contracts of Affreightment (COAs) primarily in the spot market. As of March 20, 2025, 83 of the vessels in the Operating Fleet were in one of the Scorpio Pools. The fleet size as of August 28, 2025, stood at 99 product tankers (38 LR2, 47 MR, and 14 Handymax).

The transactional nature is evident in the Q3 2025 spot/pool market Time Charter Equivalent (TCE) rates reported:

• LR2 vessels: $32,700 per day.
• MR vessels: $23,500 per day.
• Handymax vessels: $20,500 per day.

For context on overall performance, the average daily TCE revenue for the entire fleet during the second quarter of 2025 was $25,569 per vessel.

Dedicated commercial and operations teams for charter negotiation

Securing these varied charter types-from long-term fixed contracts to spot market pool placements-requires specialized teams. The pool structure itself relies on experienced commercial managers who negotiate charters. The company's ability to execute a five-year charter at $28,350 per day while simultaneously managing the logistics for the pool vessels demonstrates this dedicated capability. The fleet optimization strategy in 2025, which included asset sales and reacquiring vessels from sale-and-leaseback arrangements, also required intensive commercial negotiation.

High service quality and on-time delivery for sensitive cargo

The structure of the commercial pools is explicitly designed to offer customers a higher level of service while achieving scheduling efficiencies. This focus on service quality is necessary to maintain relationships with blue-chip customers. The operational readiness supports this, as evidenced by the high expected utilization rates for Q3 2025 pool/spot days: 86% for LR2s and 85% for MRs. You need reliable operations to keep those utilization figures up. The company's relatively young fleet, with an average age of 9.1 years as of mid-2025, compared to a relatively old global tanker fleet, is a key enabler of this service quality and reliability.

Finance: draft 13-week cash view by Friday.

Scorpio Tankers Inc. (STNG) - Canvas Business Model: Channels

You're looking at how Scorpio Tankers Inc. gets its product to market and communicates with the financial world as of late 2025. It's a mix of direct deals and using established market mechanisms. Defintely, the channel choice heavily influences their revenue profile.

Direct time charter contracts with end-users

Scorpio Tankers Inc. secures stability by locking in specific vessels for set periods directly with charterers. This is a key way to ensure predictable cash flow, even when the spot market is choppy. For example, in the third quarter of 2025, the company finalized a five-year time charter agreement for the LR2 product tanker STI Orchard at a rate of $\mathbf{\$28,350}$ per day, which began in the third quarter of 2025.

The company also uses longer-term arrangements like bareboat charter-outs for fleet management. In July 2025, an agreement was executed for the MR product tanker STI Bosphorus on a bareboat charter-out basis at $\mathbf{\$13,150}$ per day, which translates to a Time Charter Equivalent (TCE) rate of $\mathbf{\$21,000}$ per day, extending until 2037.

The reported average daily TCE rates for vessels outside the pools under time charters in Q3 2025 show this channel's value:

Vessel Class	Average Daily TCE Revenue	Expected Revenue Days	% of Days
LR2	$\mathbf{\$31,500}$	914	$\mathbf{100}$%
MR	$\mathbf{\$22,500}$	454	$\mathbf{85}$%
Handymax	$\mathbf{\$23,000}$	N/A	$\mathbf{100}$%

Scorpio Pools (affiliated spot market-oriented pools)

The pools are the primary channel for accessing the volatile, but potentially higher-yielding, spot market. This allows Scorpio Tankers Inc. to benefit from favorable market spikes across a larger, managed fleet. As of the date of the Q3 2025 update, the pool and spot market performance was:

Vessel Class	Average Daily TCE Revenue	Expected Revenue Days	% of Days
LR2	$\mathbf{\$32,700}$	2,456	$\mathbf{86}$%
MR	$\mathbf{\$23,500}$	3,707	$\mathbf{85}$%
Handymax	$\mathbf{\$20,500}$	1,183	$\mathbf{67}$%

The fleet size as of late 2025 was $\mathbf{99}$ product tankers, comprising $\mathbf{38}$ LR2 tankers, $\mathbf{47}$ MR tankers, and $\mathbf{14}$ Handymax tankers, with an average age of $\mathbf{9.5}$ years.

Shipbrokers and chartering agents for market access

Shipbrokers and chartering agents act as intermediaries to connect the vessels with the end-users for both spot and time charter business, especially for the pool operations. While specific commission percentages aren't public for every transaction, the sheer volume of spot market activity channeled through the pools implies heavy reliance on these external market access points.

• Shipbrokers facilitate the negotiation of the $\mathbf{\$28,350}$ per day rate on the STI Orchard five-year charter.
• Agents are essential for managing the $\mathbf{2,456}$ expected revenue days for LR2 vessels in the spot pool during Q3 2025.
• The company's overall operational structure depends on these external networks to place its $\mathbf{99}$ vessel fleet effectively.

Company website and investor relations for financial stakeholders

The company uses its Investor Center to communicate financial performance and strategy to shareholders and potential investors. This channel is crucial for maintaining market confidence and access to capital, such as the $\mathbf{\$500.0\ Million}$ revolving loan facility executed in February 2025.

• The Third Quarter $\mathbf{2025}$ results were planned for release on $\mathbf{October\ 30,\ 2025}$.
• Unrestricted cash and cash equivalents stood at $\mathbf{\$472.7\ million}$ as of $\mathbf{July\ 28,\ 2025}$.
• The Board declared a quarterly cash dividend of $\mathbf{\$0.40}$ per common share on $\mathbf{April\ 30,\ 2025}$.
• The dedicated email contact for financial stakeholders is $\mathbf{investor.relations@scorpiotankers.com}$.

Scorpio Tankers Inc. (STNG) - Canvas Business Model: Customer Segments

Scorpio Tankers Inc. serves a diversified blue chip customer base, providing the marine transportation of refined petroleum products like gasoline, diesel, jet fuel, and naphtha worldwide. The core of the customer interaction is the deployment of its fleet, which as of August 28, 2025, consisted of 99 product tankers.

Global oil majors and national oil companies often form the bedrock of long-term revenue stability for Scorpio Tankers Inc. You see this in their strategy to secure multi-year contracts. For instance, the company recently secured a five-year time charter-out agreement for the LR2 product tanker STI Orchard at a rate of $28,350 per day, commencing in the third quarter of 2025. These types of fixed-rate contracts provide predictable cash flow, which is crucial when the company's trailing twelve-month revenue was reported at $890M as of September 30, 2025.

Independent commodity traders and refiners are typically served through the company's participation in spot market-oriented pools, known as Scorpio Pools, alongside direct spot market voyages. This allows Scorpio Tankers Inc. to capture upside from strong market demand. The average daily Time Charter Equivalent (TCE) revenue for the third quarter of 2025 reflected this exposure, with LR2 vessels averaging $32,700 per day in the pool/spot market. This contrasts with the more stable, but sometimes lower, contracted rates seen in long-term agreements.

Government agencies and strategic reserve operators represent a niche but important segment, often requiring specific vessel guarantees or participation in security programs. A clear example of this is the MR product tanker STI Bosphorus, which was executed under a bareboat charter-out agreement at a rate of $13,150 per day, equivalent to a Time Charter Equivalent (TCE) rate of approximately $21,000 per day, with the vessel set to participate in the U.S. Government's Tanker Security Program (TSP). This agreement extends until 2037, showing a commitment to long-term, specialized governmental needs.

Companies requiring seaborne transport of refined petroleum products are the broad category encompassing all the above, as Scorpio Tankers Inc. specializes in these clean products. The operational scale supporting this segment is defined by the fleet's composition and age profile. As of late 2025, the fleet is relatively modern, with an average age of approximately 9.5 years, and it is fully delivered, meaning there are $0 newbuild capital expenditures expected going forward. This modern, eco-friendly fleet is a key selling point to customers concerned with efficiency and environmental compliance.

Here's a quick look at the fleet deployment metrics that directly impact the service capacity offered to these customer segments:

Vessel Class	Fleet Size (Units)	Average Daily TCE Rate (Q3 2025 Est.)	Example Contract Rate / Term
LR2	38	$32,700	$28,350 per day / Five Years (STI Orchard)
MR	47	$23,500	$21,000 per day TCE (STI Bosphorus)
Handymax	14	$20,500	$24,000 per day (Q1 2025 Charter)

The ability to generate significant cash flow from operations is a testament to the value proposition for these customers. For example, a $10,000 per day increase in average daily freight rates translates to approximately $361 million of incremental annualized cash flow for Scorpio Tankers Inc.

The operational capacity and financial health underpinning customer service include several key figures:

• Total product tankers owned or lease financed: 99.
• Average fleet age as of late 2025: Approximately 9.5 years.
• Net debt as of October 2025: Under $1 billion, down from over $3 billion.
• Daily cash break-even rate: $12,500 per day, expected to reduce to $11,000 per day after Q4 2025 prepayments.
• Reported basic EPS (TTM) as of October 29, 2025: $7.64.

The company's focus on maintaining a low break-even rate helps ensure they can service contracts even in softer market conditions, which is a key assurance for any counterparty. Finance: draft 13-week cash view by Friday.

Scorpio Tankers Inc. (STNG) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Scorpio Tankers Inc.'s fleet moving and the lights on. For a capital-intensive business like this, the cost structure is dominated by vessel-related outlays, but debt servicing and overhead are still significant factors you need to track.

The most direct, recurring operational costs are the Vessel operating expenses (OPEX). For the three months ended June 30, 2025, Scorpio Tankers Inc. reported these costs totaled $68.7 million. That's down from $79.3 million in the same period last year, partly because the average number of owned vessels decreased to 99. Also, the average daily OPEX improved to $7,630 per vessel for Q2 2025, down from $8,017 per vessel in Q2 2024, driven by lower costs for repairs, maintenance, spares, and stores.

Next up, you have the costs that swing with the market: Voyage expenses. These are things like bunkers (fuel) and port charges. Since Scorpio Tankers Inc. is heavily involved in the spot market through its pools, these expenses are variable and directly tied to how much and where the vessels are trading. If charter rates are high, you're likely paying more for bunkers and port calls to service those high-demand routes.

Financing costs are a major component, especially given the asset base. The Interest expense on debt for the six months ended June 30, 2025, was reported as $29.379 million. This reflects the company's deleveraging efforts, as average indebtedness was $947 million for Q2 2025, down from $1.3 billion in Q2 2024. They also secured some stability by issuing new unsecured bonds in January 2025 with a fixed coupon rate of 7.50% per annum.

Then there are the scheduled, lumpy costs for asset upkeep. For Drydocking and maintenance costs, the actual spend for the third quarter of 2025 (Q3 2025) was $16.8 million. This is the actual cost incurred, which you asked about as an estimate of $19.1 million for Q3 2025. For context, the estimate for Q4 2025 drydock costs was $14.7 million.

Finally, you have the overhead, the General and administrative expenses (G&A). For the three months ended June 30, 2025, G&A was $29.6 million, which was a decrease from $37.1 million in the prior year's second quarter, mainly due to lower compensation costs. For the first quarter of 2025, G&A was $28.5 million.

Here's a quick look at some of the key recurring and recent costs you need to factor into the cost structure for Scorpio Tankers Inc.:

Cost Category	Period	Amount (USD)	Notes
Vessel Operating Expenses (OPEX)	Q2 2025	$68.7 million	Total for the quarter.
Vessel Operating Expenses (OPEX)	H1 2025	$139.3 million	Total for the first six months.
Interest Expense on Debt	H1 2025	$29.379 million	Interest paid for the first six months.
General and Administrative Expenses (G&A)	Q2 2025	$29.6 million	Total for the quarter.
Drydock Costs	Q3 2025	$16.8 million	Actual aggregate cost incurred.
Drydock Costs	Q4 2025	$14.7 million	Estimated aggregate cost.

Voyage expenses are the wild card here, honestly. They are almost entirely dependent on the spot market's health and fuel prices, so they don't have a fixed number like the G&A or the scheduled interest payments.

You should also keep an eye on the average daily operating cost per vessel, which was $7,630 in Q2 2025, showing good cost control compared to the prior year's $8,017.

• Average Daily OPEX (Q2 2025): $7,630 per vessel.
• Average Daily OPEX (Q2 2024): $8,017 per vessel.
• Average Indebtedness (Q2 2025): $947 million.
• New Unsecured Bonds Coupon Rate: 7.50% per annum.

Finance: draft 13-week cash view by Friday.

Scorpio Tankers Inc. (STNG) - Canvas Business Model: Revenue Streams

The primary engine for Scorpio Tankers Inc. revenue is the chartering of its product tanker fleet, which as of late 2025 consists of 99 product tankers, including 38 LR2 tankers, 47 MR tankers, and 14 Handymax tankers.

Time Charter Equivalent (TCE) revenue, a key industry metric, stood at $222.8 million for the three months ended June 30, 2025. This figure reflects vessel revenues less voyage expenses, such as bunkers and port charges. For the first quarter of 2025, the TCE revenue was reported at $204.2 million. The trailing twelve months (TTM) revenue for 2025 was reported as $0.88 Billion USD.

The overall average daily TCE revenue for the second quarter of 2025 was $25,569 per vessel, based on an average fleet size of 99.0 vessels for that period.

Revenue streams are segmented based on how the vessels are employed:

• Revenue from spot market voyages via commercial pools
• Charter hire payments from time charter contracts

The average daily TCE rates for Q2 2025 illustrate the performance across these segments by vessel class:

Vessel Class	Pool / Spot Average Daily TCE ($)	Time Charters Average Daily TCE ($)
LR2	33,185	31,541
MR	20,421	23,131
Handymax	22,698	22,872

This table shows the specific daily earnings Scorpio Tankers Inc. commanded for each vessel type depending on the charter arrangement during Q2 2025.

Potential gains from vessel sales as part of fleet renewal are a defintely factor in the overall financial picture, even if not recurring revenue. In September 2025, Scorpio Tankers Inc. announced an agreement to sell its 2020 built scrubber-fitted MR product tanker, STI Maestro, for a sale price of $42.0 million, with closing expected in the fourth quarter of 2025. Furthermore, in November 2025, the Company announced agreements to sell four of its 2014 built scrubber-fitted MR product tankers for $32.0 million per vessel, though these sales were expected to close in the first quarter of 2026.

The company also declared a quarterly cash dividend of $0.40 per share based on the Q2 2025 results.