Scorpio Tankers Inc. (STNG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la logística marítima, Scorpio Tankers Inc. (STNG) emerge como una potencia de transporte de productos petroleros, navegando por los complejos mares del comercio energético global con precisión estratégica. Esta compañía innovadora ha creado un modelo de negocio sofisticado que transforma los desafíos marítimos en soluciones logísticas sin problemas, aprovechando una flota moderna, tecnologías de vanguardia y una red de asociaciones estratégicas que abarcan el intrincado paisaje de transporte internacional de envío y energía.

Scorpio Tankers Inc. (STNG) - Modelo de negocio: asociaciones clave

Fabricantes de barcos y astilleros

A partir de 2024, Scorpio Tankers mantiene asociaciones estratégicas con constructores navales clave:

Astillero	Número de embarcaciones	Detalles de la asociación
Industrias pesadas de Hyundai	12 petroleros de productos LR2	Contrato de expansión de la flota a largo plazo
Samsung Heavy Industries	8 petroleros Handymax	Mantenimiento y nuevo acuerdo de construcción de embarcaciones

Empresas internacionales de comercio de petróleo y empresas energéticas

La red de asociación clave incluye:

• Vitol Group: acuerdos de la carta de tiempo a largo plazo
• TRAFIGURA - Contratos de transporte del mercado spot
• Comercio de shell - Servicios de transporte de productos

Proveedores de seguros marítimos

Detalles de la asociación de seguro:

Proveedor de seguros	Cantidad de cobertura	Categorías de riesgos
Skuld P&I Club	Seguro de casco de $ 750 millones	Responsabilidad marina, riesgos de carga
American P&I Club	Cobertura de protección de $ 500 millones	Daño ambiental, riesgos de la tripulación

Proveedores de combustible y servicios de bunkering

Asociaciones de adquisición de combustible:

• Bunker One A/S - Global Marine Fuel Supply
• Peninsula Petroleum: contratos de combustible bajo en azufre
• Total de combustibles marinos - Servicios de bunkering en todo el mundo

Sociedades de clasificación y socios de cumplimiento regulatorio

Organización	Servicios de cumplimiento	Nivel de certificación
DNV GL	Inspecciones técnicas de buques	Certificación avanzada de seguridad marítima
Oficina Americana de envío	Monitoreo de cumplimiento regulatorio	Verificación de estándares marítimos internacionales

Scorpio Tankers Inc. (STNG) - Modelo de negocio: actividades clave

Servicios de transporte de petroleros de productos petroleros

A partir de 2024, Scorpio Tankers Inc. opera una flota de 60 buques, con una capacidad de carga total de aproximadamente 5.9 millones de toneladas de peso muerto (DWT). La composición de la flota incluye:

Tipo de vaso	Número de embarcaciones	Capacidad total (DWT)
Petroleros de productos	54	5.3 millones
Buques LR2	6	600,000

Gestión de la flota y logística operativa

Las métricas operativas clave incluyen:

• Edad de la flota promedio: 7.2 años
• Tasa de utilización de buques: 95.6%
• Días operativos totales: 21,600 días por año

Optimización de ruta marítima

Scorpio Tankers utiliza estrategias avanzadas de optimización de rutas, lo que resulta en:

• Mejora de la eficiencia del combustible: 12.5%
• Emisiones de carbono reducidas: reducción del 15% en comparación con el promedio de la industria
• Capacidades de seguimiento y ajuste de ruta en tiempo real

Alquiler de buques y operaciones comerciales

Métrico de fletación	2024 rendimiento
Tasa de equivalente de la carta de tiempo (TCE)	$ 15,200 por día
Ingresos totales de la alquiler	$ 328.5 millones
Duración promedio de la carta	8.3 meses

Cumplimiento de las regulaciones marítimas internacionales

Inversiones y métricas de cumplimiento:

• Gasto anual de cumplimiento regulatorio: $ 4.2 millones
• Cumplimiento de la regulación de azufre de la OMI 2020: 100%
• Sistemas de gestión ambiental certificados a ISO 14001

Scorpio Tankers Inc. (STNG) - Modelo de negocio: recursos clave

Flota moderna y eficiente en combustible

A partir del cuarto trimestre de 2023, Scorpio Tankers Inc. opera una flota de 62 embarcaciones, que comprende:

Tipo de vaso	Número de embarcaciones	Total de tonelaje de peso muerto (DWT)
Petroleros de productos LR2	19	1,138,000
Petroleros de productos LR1	17	850,000
Mr petroleros de productos	26	1,300,000

Equipo experimentado de gestión marítima

Detalles clave del liderazgo:

• CEO: Robert Bugbee
• Años de experiencia en la industria: más de 25 años
• Experiencia marítima del equipo de gestión total: más de 100 años acumulativos

Tecnologías avanzadas de navegación y seguimiento

Inversiones tecnológicas:

• Sistemas de seguimiento del GPS instalado en el 100% de la flota
• Capacidades de monitoreo de buques en tiempo real
• Software avanzado de optimización de consumo de combustible

Capital financiero sólido y facilidades de crédito

Recursos financieros al 31 de diciembre de 2023:

Métrica financiera	Cantidad
Liquidez total	$ 347.2 millones
Facilidades de crédito disponibles	$ 525 millones
Deuda total	$ 1.2 mil millones

Redes y relaciones marítimas globales

Características de la red:

• Presencia operativa en más de 15 regiones marítimas internacionales
• Contratos a largo plazo con las principales compañías de comercio de petróleo
• Asociaciones con 7 principales organizaciones globales de envío y comercio

Scorpio Tankers Inc. (STNG) - Modelo de negocio: propuestas de valor

Transporte de productos petroleros confiables y eficientes

A partir del cuarto trimestre de 2023, Scorpio Tankers Inc. opera una flota de 62 embarcaciones, con la siguiente composición:

Tipo de vaso	Número de embarcaciones	Total de tonelaje de peso muerto (DWT)
Petroleros de productos LR2	21	1,264,000
Petroleros de productos LR1	16	800,000
Mr petroleros de productos	25	1,375,000

Flota diversa capaz de múltiples tipos de carga

La flota de Scorpio Tankers se especializa en el transporte de múltiples tipos de productos de petróleo:

• Gasolina
• Diesel
• Combustible para aviones
• Nafta
• Aceite combustible

Tasas de flete competitivas

Tasas promedio de la Carta de tiempo diario (TCE) para 2023:

Tipo de vaso	Tasa promedio diaria de TCE
Petroleros de productos LR2	$25,500
Petroleros de productos LR1	$22,300
Mr petroleros de productos	$20,700

Altos estándares de seguridad y cumplimiento ambiental

Métricas de desempeño ambiental para 2023:

• Calificación del indicador de intensidad de carbono (CII): A
• Cero incidentes ambientales principales
• Cumplimiento del 100% con los estándares de emisiones de IMO Tier III

Soluciones de logística marítima global flexible

Cobertura operativa global a partir de 2023:

Región	Porcentaje de operaciones
Oriente Medio	35%
Europa	25%
Asia	20%
América	20%

Scorpio Tankers Inc. (STNG) - Modelo de negocios: relaciones con los clientes

Acuerdos contractuales a largo plazo

Scorpio Tankers Inc. mantiene 28 contratos de la carta de tiempo a largo plazo a partir del cuarto trimestre de 2023, con una duración promedio del contrato de 3.4 años. Los ingresos totales contratados de estos acuerdos son de aproximadamente $ 481 millones.

Tipo de contrato	Número de contratos	Duración promedio	Ingresos contratados totales
Product Bailer Time Charters	28	3.4 años	$ 481 millones

Gestión de cuentas dedicada

Scorpio Tankers emplea 7 gerentes de cuentas senior que manejan específicamente las relaciones clave de los clientes en segmentos de transporte marino.

• Equipo especializado centrado en la retención de clientes a largo plazo
• Servicio personalizado para clientes de envío de primer nivel
• Soluciones de gestión de flotas personalizadas

Canales de comunicación transparentes

La compañía utiliza plataformas digitales con seguimiento de buques en tiempo real, logiendo un tiempo de actividad de comunicación del 99.2% en 2023.

Método de comunicación	Porcentaje de tiempo de actividad	Tiempo de respuesta
Plataforma de seguimiento digital	99.2%	Menos de 2 horas

Compromisos de servicio basados ​​en el rendimiento

Scorpio Tankers garantiza el 98.5% de confiabilidad de embarcaciones con cláusulas de multa de rendimiento en los contratos.

Plataformas de seguimiento e informes digitales

Inversión en infraestructura digital: $ 3.2 millones en 2023 para tecnologías de seguimiento avanzado.

• Monitoreo de ubicación del buque en tiempo real
• Análisis de rendimiento integral
• Sistemas de informes automatizados

Scorpio Tankers Inc. (STNG) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, Scorpio Tankers Inc. mantiene un equipo de ventas marítimos dedicado de 37 profesionales. La generación anual de ingresos del equipo alcanzó los $ 742.3 millones a través de interacciones directas del cliente.

Métrica del equipo de ventas	2023 datos
Profesionales de ventas totales	37
Ingresos directos generados	$ 742.3 millones
Costo promedio de adquisición del cliente	$126,500

Conferencias de la industria marítima

Los petroleros de Scorpio participaron en 14 conferencias marítimas internacionales en 2023, con una inversión total de $ 1.2 millones en participación de conferencias y redes.

• Conferencias a las que asistió: 14
• Inversión total de la conferencia: $ 1.2 millones
• Nuevos contratos asegurados: 6

Plataformas digitales en línea

Las plataformas digitales de la compañía generaron el 42% de las interacciones totales del cliente en 2023, con ingresos en línea que alcanzaron los $ 328.6 millones.

Métrica de plataforma digital	2023 rendimiento
Interacciones en línea del cliente	42%
Ingresos en línea	$ 328.6 millones
Sitio web Visitantes mensuales	127,500

Envío de corredores e intermediarios

En 2023, Scorpio Tankers colaboró ​​con 23 corredores de envío internacionales, generando $ 215.4 millones a través de estas asociaciones.

• Corredores de envío totales: 23
• Ingresos de la asociación: $ 215.4 millones
• Comisión promedio de corredores: 3.7%

Sitio web corporativo y comunicación digital

El sitio web corporativo de Scorpio Tankers registró 127,500 visitantes mensuales en 2023, con canales de comunicación digital que impulsan el 18% de la participación total del cliente.

Métrica de comunicación digital	2023 datos
Visitantes mensuales del sitio web	127,500
Participación del cliente a través de canales digitales	18%
Gastos de marketing digital	$ 1.7 millones

Scorpio Tankers Inc. (STNG) - Modelo de negocio: segmentos de clientes

Empresas de comercio de petróleo

Scorpio Tankers atiende a las principales compañías de comercio de petróleo con una flota de 112 embarcaciones a partir del cuarto trimestre de 2023, que incluyen:

Tipo de cliente	Número de contratos activos	Contribución anual de ingresos
Comerciantes globales de petróleo	37	$ 214.6 millones
Empresas regionales comerciales de petróleo	24	$ 127.3 millones

Corporaciones de energía

Los segmentos de clientes de Key Energy Corporation incluyen:

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

Corporación de energía	Volumen de contrato	Valor anual del contrato
Total S.A.	18 embarcaciones	$ 89.4 millones
Shell plc	15 vasos	$ 76.2 millones

Fabricantes de productos de petróleo

Desglose del cliente para fabricantes de productos petroleros:

Categoría de fabricante	Número de clientes	Ingresos anuales totales
Refinerías grandes	22	$ 176.5 millones
Refinerías de tamaño mediano	16	$ 98.3 millones

Empresas navieras internacionales

Segmentos de clientes de la empresa de envío internacional:

• Línea de Maersk
• Compañía de envío mediterráneo
• Grupo CGM CMA

Firma de envío	Buques alquilados	Ingresos anuales de la carta
Línea de Maersk	8 recipientes	$ 42.7 millones
Compañía de envío mediterráneo	6 embarcaciones	$ 33.5 millones

Transportadores de productos químicos industriales

Cliente de transportador de productos químicos industriales profile:

Tipo de transportador químico	Número de clientes	Ingresos anuales
Grandes corporaciones químicas	14	$ 87.6 millones
Empresas de productos químicos especializados	9	$ 45.2 millones

Scorpio Tankers Inc. (STNG) - Modelo de negocio: Estructura de costos

Adquisición y mantenimiento de los buques

A partir de 2023, Scorpio Tankers Inc. poseía y operaba 58 petroleros de productos. El costo promedio de adquisición para un petrolero de productos de mediano alcance oscila entre $ 30 millones y $ 45 millones.

Tipo de vaso	Número de embarcaciones	Costo de mantenimiento estimado por barco
Camareros de rango medio (MR)	58	$ 1.2 millones - $ 1.8 millones anuales

Salarios y entrenamiento de la tripulación

Gastos anuales relacionados con la tripulación para los petroleros de Scorpio:

• Salario mensual promedio por mar: $ 4,500 - $ 6,500
• Salarios anuales de la tripulación total: aproximadamente $ 25 millones - $ 35 millones
• Costos de capacitación y certificación: $ 500,000 - $ 750,000 anualmente

Combustible y gastos operativos

Categoría de gastos	Costo anual
Costos de combustible de búnker	$ 40 millones - $ 55 millones
Cargos portuarios	$ 8 millones - $ 12 millones
Logística operativa	$ 5 millones - $ 7 millones

Seguros y cumplimiento regulatorio

Desglose del seguro:

• Seguro de casco y maquinaria: $ 3 millones - $ 4.5 millones anuales
• Protección e indemnización (P&I) Seguro: $ 2.5 millones - $ 3.5 millones
• Costos de cumplimiento regulatorio: $ 1.5 millones - $ 2.5 millones

Inversiones de tecnología e infraestructura

Categoría de inversión tecnológica	Gasto anual
Sistemas de navegación	$ 750,000 - $ 1.2 millones
Ciberseguridad	$500,000 - $850,000
Software de gestión de flotas	$350,000 - $600,000

Scorpio Tankers Inc. (STNG) - Modelo de negocio: flujos de ingresos

Contratos de la carta de tiempo

A partir del tercer trimestre de 2023, Scorpio Tankers reportó ingresos de la carta de tiempo de $ 167.7 millones. La tasa de equivalente de la carta de tiempo diario promedio (TCE) para la flota fue de $ 21,700 por día.

Tipo de afición	Ingresos (tercer trimestre de 2023)	Tasa diaria promedio
Product Bailer Time Charters	$ 112.3 millones	$ 19,500/día
Carteras de camareros de largo alcance (LR)	$ 55.4 millones	$ 25,200/día

Ingresos de la carta de viaje

Los ingresos de la carta de viaje para los petroleros de Scorpio en el tercer trimestre de 2023 totalizaron $ 43.2 millones, con una porción significativa derivada de las operaciones del mercado spot.

• Ingresos totales de viaje: $ 43.2 millones
• Contribución del mercado spot: aproximadamente el 65% de los ingresos del viaje
• Duración promedio del viaje: 35-40 días

Tasas de transporte de carga

Las tarifas de transporte de carga para la compañía alcanzaron los $ 78.5 millones en el tercer trimestre de 2023, con una distribución geográfica diversa.

Región	Ingresos por flete	Porcentaje de total
Oriente Medio	$ 32.6 millones	41.5%
Europa	$ 22.7 millones	28.9%
Asia-Pacífico	$ 23.2 millones	29.6%

Ingresos de arrendamiento de la flota

El ingreso de arrendamiento de la flota para los petroleros de Scorpio en 2023 ascendió a $ 56.4 millones, con una flota de 58 embarcaciones disponibles para el arrendamiento.

• Ingresos de arrendamiento total: $ 56.4 millones
• Número de embarcaciones arrendadas: 28 buques
• Tasa de arrendamiento diario promedio: $ 14,500 por embarcación

Cargos de servicio de logística marítima

Los cargos de servicio de logística marítima generaron $ 22.8 millones en ingresos durante el tercer trimestre de 2023.

Tipo de servicio	Ganancia	Porcentaje de total
Servicios de embotellamiento	$ 12.5 millones	54.8%
Coordinación logística	$ 6.3 millones	27.6%
Servicios marítimos adicionales	$ 4.0 millones	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.