NYSE:STNGOil and Gas
Scorpio Tankers Refines Fleet Mix With Vessel Sales And Long Charters
Scorpio Tankers (NYSE:STNG) has agreed to sell three product tankers built in 2015.
The company has also entered into multi year time charter agreements for two LR2 product tankers.
These moves affect Scorpio Tankers' fleet mix, contracted revenue visibility, and use of capital.
Scorpio Tankers, trading at $75.29, has seen its share price gain 51.5% year to date and 104.1% over the past year, with a 356.9% return over five years. In that context, changes to the fleet and contract profile...