Scorpio Tankers reported an update regarding its average daily time charter equivalent (TCE) revenue and liquidity for the first two quarters of the year. The firm confirmed that its pool and spot market rates for LR2 vessels reached $51,000 per day for 97 per cent of the first quarter.
During the same period, MR tankers in the pool and spot market earned an average of $32,000 per day. Handymax vessels achieved daily revenues of $34,000 for 95 per cent of the quarter, according to the update.
For the second quarter, Scorpio Tankers indicated that LR2 vessels in the pool and spot market have so far averaged $101,000 per day for 16 per cent of the days. Meanwhile, MR vessels in the same category have reached $36,500 per day, representing 16 per cent of the period.
Handymax daily revenues for the second quarter were $32,000 for 10 per cent of the revenue days. These figures remain subject to change as pool results for voyages currently in progress are finalised.
As of March 20, total debt stood at $589 million. This follows the prepayment of $20 million in debt related to the STI Solidarity and STI Osceola earlier in the month.
The company also repaid a $19 million lease obligation for the STI Symphony on February 20, 2026. Cash balances reached $974 million by 20 March, a figure expected to rise on a pro-forma basis following the completion of vessel sales.
Scorpio Tankers is currently in the process of selling the STI Seneca and STI Osceola for $35 million each. Additionally, the STI Solidarity is being sold for $60 million.
Pro-forma cash is expected to reach $1.1 billion once these transactions close. Finally, availability under revolving credit facilities was reported at $747 million as of March 20.