Scorpio Tankers Inc. Announces Time Charter-In Agreement for an LR2 Product Tanker

MONACO - December 04, 2012

Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has agreed to time charter-in a 2008 built LR2 product tanker (115,406 DWT). The vessel will be chartered-in for six months at $16,000 per day, and Scorpio Tankers has options to extend the charter for three consecutive six month periods at $16,250 per day, $16,500 per day, and $16,750 per day respectively. The vessel is expected to be delivered by the end of January 2013.

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, one Handymax tanker, five MR tankers, and one post-Panamax tanker with an average age of 4.7 years, time charters-in 18 vessels (three LR2, three LR1, seven MR and five Handymax tankers), and has contracted for five newbuilding MR's (three are expected to be delivered to the Company in the first half of 2013 and two in January 2014). Additional information about the Company is available at the Company's website www.scorpiotankers.com, which is not a part of this press release.

Scorpio Tankers Inc. press release