Monaco-based product tanker owner Scorpio Tankers reported adjusted net income of $127.4 million for the third quarter of 2026 on October 28, up from $72.7 million a year earlier.
Net income reached $224.3 million, compared with $84.5 million in the third quarter of 2025. The 2026 figure includes a $152.6 million gain on vessel sales and a $55.6 million fair-value loss linked to the conversion derivative on the company's convertible notes.
The company said fourth-quarter LR2 pool and spot voyages contracted so far averaged $181,000 per day, covering 44 per cent of expected revenue days. MR bookings averaged $56,000 per day on 47 per cent of days, and Handymax bookings averaged $40,000 per day on 37 per cent.
The company's LR2s earned $55,184 per day in the third quarter, compared with $31,482 a year earlier. Fleet-wide time charter equivalent (TCE) earnings averaged $37,508 per day, down from $52,661 in the second quarter.
Scorpio attributed the gains to conflict in the Middle East, which lengthened refined product voyages. It also cited tight LR2 supply, "as larger vessels remained employed in crude trades."
The company's fleet now comprises 74 product tankers: 25 LR2s, 35 MRs and 14 Handymax vessels.