New York, Jan 13, 2026, 12:12 PM EST — Regular session
- Shares of STNG rose in New York following Scorpio Tankers’ update revealing a net cash position and new balance-sheet information
- The tanker owner detailed vessel sales set to finalize in early 2026, with newbuilding payments extending through 2028
- Traders are closely tracking how quickly those deals are executed and when the cash flows back into the market
Shares of Scorpio Tankers Inc jumped nearly 9% to $59.85 by midday Tuesday, pushing the tanker owner into the ranks of the day’s top performers in shipping. The stock’s strong momentum continued from earlier gains.
Timing is key. Product tanker earnings fluctuate with charter rates and route disruptions, while investors zero in on liquidity, especially when firms are juggling ship orders and debt.
Scorpio reported holding $793.2 million in cash against $628.4 million in total debt as of Jan. 9, resulting in net cash of $164.7 million—meaning its cash position outstrips its debt. The company added that, on a pro forma basis factoring in announced vessel sales and debt repayments, net cash would rise to $382.7 million. It also noted $783.9 million available under revolving credit facilities, alongside $572.8 million in newbuilding commitments stretching through 2028. (Scorpio Tankers)
A U.S. securities filing on Monday revealed that Scorpio has agreed to sell the 2015-built LR2 product tanker STI Kingsway, which is equipped with scrubbers, for $57.5 million. The deal is set to close in the first or second quarter of 2026. LR2 refers to a mid-size product tanker class, and scrubbers are devices that reduce emissions to comply with environmental regulations. (SEC)
Peers also climbed, but with less momentum. Frontline Plc inched up roughly 3%, while International Seaways added about 3% during midday trading in New York.
Analysts have remained largely positive on the stock in recent months, with price targets in Benzinga’s compilation sitting comfortably above the previous close. BTIG’s Gregory Lewis kept his Buy rating intact, setting a $75 price target, the data revealed.
Scorpio’s drive to reach net cash status has been a persistent focus. President Robert Bugbee told analysts on the company’s most recent earnings call that shifting to net cash “gives you tremendous options,” all while maintaining a dividend he described as sustainable throughout the cycle.
Tanker stocks can shift rapidly. A drop in spot rates or a decline in secondhand ship prices can slow vessel sales or push prices down, draining a cash-rich balance sheet faster than investors anticipate.
Investors are now focusing on the LR2 sales, which the company aims to close in Q1 or Q2, along with a purchase option linked to the STI Symphony sale-and-leaseback, slated for February.
