Scorpio Tankers Inc. Prices Public Offering of Its Common Stock

Released: 16 Nov 2010

MONACO - (Marketwire) - 11/16/10 - Scorpio Tankers Inc. (NYSE: STNG) (the "Company" or "Scorpio Tankers") announced today that it has priced its public offering of 4,575,000 shares of its common stock, par value $0.01 per share, at $9.80 per share. Of this public offering amount, the full 100,000 shares reserved by the underwriters for officers, directors and affiliates pursuant to their directed share program are expected to be issued as follows: 76,530 shares to Mr. Robert Bugbee, a Director and President of the Company; 10,000 shares to Mr. Cameron Mackey, Chief Operating Officer of the Company; 7,470 shares to Mr. Brian Lee, Chief Financial Officer of the Company and 6,000 shares to Mr. Donald Trauscht, a Director of the Company. In addition, 510,204 shares are expected to be issued at the public offering price in a concurrent private placement to a member of the Lolli-Ghetti family, of which the Company's Chief Executive Officer, Emanuele Lauro, is a member. The proceeds of the offering and concurrent private placement are expected to be used, after assessing any working capital and other general corporate expense needs, to pursue vessel acquisitions consistent with the Company's acquisition strategy.

The offering is expected to close on November 22, 2010. The underwriters have a 30-day option to purchase up to an additional 686,250 shares of common stock to cover over-allotments, if any. Scorpio Tankers' common stock trades on the New York Stock Exchange under the symbol "STNG."

Morgan Stanley & Co. Incorporated is acting as the sole bookrunning manager and Fearnley Fonds ASA, Dahlman Rose & Company, LLC, Lazard Capital Markets LLC, Knight Capital Markets LLC and DVB Capital Markets LLC are acting as co-managers in the offering.

Copies of the final prospectus may be obtained from Morgan Stanley & Co. Incorporated at 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by calling 1-866-718-1649 or by e-mailing prospectus@morganstanley.com.

The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and the other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Morgan Stanley & Co. Incorporated at (866) 718-1649.

You may also access the issuer's most recent preliminary prospectus dated November 15, 2010 included in Amendment No. 1 to the registration statement on Form F-1 through the following link: http://www.sec.gov/Archives/edgar/data/1483934/000119312510261165/df1a.htm.

About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns one LR2 tanker, four LR1 tankers, four Handymax tankers, and one post-Panamax tanker with an average age of 5.1 years.

Scorpio Tankers Inc. press release