Scorpio Tankers (NYSE:STNG) achieved a record quarterly performance in Q2 2026, reporting an adjusted EBITDA of over $300 million and an adjusted net income of $243.7 million. The company attributed its success to elevated tanker rates, vessel sales—including a $154 million gain from the sale of 10 vessels—and ongoing refinancing efforts during the period.
As of July 28, Scorpio Tankers boasted $2.2 billion in cash and $483 million available through revolving credit facilities, totaling $2.4 billion in liquidity. The company has reduced its break-even cash rate to below $11,000 per day, projecting potential annual cash flow of up to $520 million at a daily rate of $30,000. Additionally, the board declared a quarterly dividend of $0.45 per share and repurchased approximately 2 million shares worth $155 million in the same quarter.
Scorpio Tankers has sold 19 vessels in 2026 and anticipates a fleet expansion with agreements for 14 newbuilding vessels estimated at over $978 million. Despite a drop of 11% in year-over-year refined-product exports, product tanker rates remained above $30,000 per day due to tightened effective supply and longer voyage distances.
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