Scorpio Tankers Inc. Announces Agreement to Acquire 7.5 Million of Its Own
Common Shares, an Update of Stock Buyback, and Vessel Deliveries

Monaco - May 30, 2014

Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers," or the "Company") today announced that it has entered into an agreement whereby the Company will purchase from an existing shareholder 7,500,000 common shares of the Company in exchange for the sale to said shareholder of 3,422,665 common shares the Company currently owns in Dorian LPG Ltd ("Dorian") in a privately negotiated transaction. As a result of the disposal of the 3,422,665 Dorian shares, the Company will recognize a gain of approximately $11.0 million and its ownership in Dorian will be reduced to 9.4 million shares.

This transaction is subject to the execution of definitive agreements and satisfaction of customary closing conditions and is expected to close in June 2014.

Stock buyback
In addition to the transaction announced today, the Company has repurchased 2,764,352 of its common shares at an average price of $8.89 per share before commissions. As of today, the Company has $75.3 million remaining on its $100 million stock buyback authorization, which was announced on April 28, 2014.

Fleet Update
The Company also announced that it has recently taken delivery of four product tankers under its Newbuilding Program.

• STI Comandante, a Handymax Ice Class 1A product tanker was delivered from Hyundai Mipo Dockyard on May 30, 2014. Upon delivery, this vessel began a time charter for up to 120 days at approximately $15,000 per day.

• STI Chelsea and STI Lexington, MR product tankers, were delivered from Hyundai Mipo Dockyard on May 13 and May 27, 2014, respectively. Upon delivery, these vessels began time charters for up to 120 days at approximately $18,000 per day.

• STI San Antonio, an MR product tanker from SPP Shipbuilding of South Korea, was delivered on May 23, 2014. After delivery, this vessel began a one year time charter at a rate level consistent with current one year time charter contracts which include a profit sharing mechanism whereby earnings in excess of the base time charter rate will be split between the Company and charterer.

About Scorpio Tankers Inc.
Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 24 tankers (two LR1 tankers, two Handymax tankers, 19 MR tankers, and one post-Panamax tanker) with an average age of 2.5 years, time charters-in 27 product tankers (eight LR2, six LR1, five MR and eight Handymax tankers), and has contracted for 50 newbuilding product tankers (25 MR, 12 LR2, and 13 Handymax ice class-1A product tankers), 36 are expected to be delivered to the Company throughout 2014 and 14 in 2015. The Company also owns approximately 16% of Dorian LPG Ltd. after the closing of the transaction described above. 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