Scorpio Tankers Inc. Completes Initial Public Offering

MONACO - (Marketwire) - 04/07/10 - Scorpio Tankers Inc. ("Scorpio Tankers") (NYSE: STNG) announced today that it has closed on its previously announced sale of 12,500,000 shares of common stock in its initial public offering, and received net proceeds of $149.6 million, after deducting underwriters' discounts and offering expenses. The underwriters have a 30-day option that commenced on March 30, 2010, to purchase up to an additional 1,875,000 shares of common stock to cover over-allotments, if any.

Morgan Stanley & Co. Incorporated and Dahlman Rose & Company, LLC are acting as joint book-running managers and representatives of the underwriters, who include Fearnley Fonds ASA, Nordea Bank Norge ASA, DnB NOR Markets, Inc. and Fortis Bank (Nederland) N.V. Copies of the final written prospectus may be obtained from Morgan Stanley & Co. Incorporated at 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department or by e-mailing prospectus@morganstanley.com, or from Dahlman Rose & Company, LLC at 142 West 57th Street, 18th Floor, New York, NY 10019 or by calling (212) 702-4521 or by e-mailing prospectus@dahlmanrose.com.

About Scorpio Tankers Inc.

Scorpio Tankers Inc. is a newly formed provider of marine transportation of petroleum products worldwide. Scorpio Tankers currently owns three double hull Panamax tankers, with an average age of 6.8 years. Additional information about the Company is available at the Company's website www.scorpiotankers.com.

Scorpio Tankers Inc. press release