Scorpio Tankers Inc. (NYSE: STNG) released an update on its daily Time Charter Equivalent (TCE) rates for the second quarter of 2026, according to a company statement.

In the pool and spot market, LR2 vessels averaged $80,000 per day across 1,721 expected revenue days, representing 88% of days booked. MR vessels averaged $53,000 per day across 3,041 expected revenue days at 90% coverage, while Handymax vessels averaged $54,000 per day across 1,169 expected revenue days at 80% coverage.

For time charters outside the pool, LR2 vessels averaged $30,300 per day over 1,082 expected revenue days, MR vessels averaged $26,500 per day over 317 days, and Handymax vessels averaged $23,000 per day over 90 days. MR vessels also had a bareboat charter averaging $12,986 per day over 90 days.

The company estimates fully diluted weighted average shares outstanding for the three months ending June 30, 2026 to be between 53 million and 54 million shares. The figure includes the potential dilutive effect of the company's 1.75% Convertible Senior Notes due 2031, issued in April and May 2026, calculated using the if-converted method.

Scorpio Tankers currently owns 81 product tankers, consisting of 31 LR2, 36 MR, and 14 Handymax vessels, with an average age of 10.2 years. The company has agreements to sell one MR and six LR2 tankers, expected to close in the second or third quarter of 2026. It also has agreements for six MR newbuildings, four LR2 newbuildings, and two VLCC newbuildings with deliveries scheduled between 2026 and 2030.