Latest news with #ScorpioTankersInc
Business Wire
29-07-2025
- Business
- Business Wire
Carbon Ridge Deploys Shipping's First Centrifugal Carbon Capture System in Partnership with Scorpio Tankers
SANTA MONICA, Calif. & HOUSTON--(BUSINESS WIRE)--Carbon Ridge, a leading developer of onboard carbon capture and storage solutions for the maritime industry, has achieved a shipping industry first with the successful deployment of a centrifugal onboard carbon capture system (OCCS) aboard an LR2 product tanker owned by Scorpio Tankers Inc. "We're proud to be part of this pilot project with Carbon Ridge, as they not only represent the leading edge of CCS technology, but they also have the requisite understanding of our industry to develop and implement practical solutions." - Cameron Mackey Share The groundbreaking pilot marks the first deployment of a centrifugal OCCS system in maritime operations, establishing Carbon Ridge as the pioneer in bringing this method of carbon capture to the shipping industry. Conducted in partnership with Scorpio Tankers Inc., a global leader in the seaborne transportation of refined petroleum products, the pilot aboard the vessel signals a significant milestone in the development and scaling of advanced OCCS solutions within the shipping industry. The pilot commenced in July at Besiktas Shipyard in Turkey aboard the STI SPIGA. Carbon Ridge's technology offers a modular design that reduces both initial capital investment and ongoing operational costs while delivering superior capture efficiency compared to conventional technologies. The technology's compact design means that space requirements are reduced by up to 75% compared to conventional OCCS columns, while its flexible installation options - vertical or horizontal depending on vessel constraints - accommodate the requirements of shipping's diverse and globally operational fleet. Captured CO2 is compressed, liquefied, and stored safely for the duration of the voyage. Combining optimized onboard OCCS technology with an end-to-end logistics solution for captured CO2, Carbon Ridge offers a turnkey solution that ensures full value-chain compliance with maritime and regional regulations. Designed for both retrofit and seamless newbuild integration, the technology is future proof and scalable, agnostic to fuel type, and offers ship owners flexibility within their fleet decarbonization strategies without requiring major propulsion system overhauls. By integrating proven centrifugal technology into a compact, purpose-built system for the marine environment, Carbon Ridge is unlocking a scalable pathway for shipowners and charterers to meet increasingly stringent regulatory and climate targets. Carbon Ridge also completed an additional financing led by Katapult Ocean and Alfa8, with participation from Crosscut Ventures and Berge Bulk. This brings the company's total funding to over $20M USD. Speaking on the pilot, Chase Dwyer, CEO and Founder, Carbon Ridge said: 'Unlike other CCS solutions, which are designed to be deployed on land and then adapted for ocean operation, we have specifically designed and developed this technology for the maritime industry. The centrifugal carbon capture system is unlike anything that has been deployed on a vessel before and, offers a cost effective, flexible and modular solution to support the maritime industry in its decarbonization efforts. Our ambition is to lead the way for CCS in shipping, and we are excited to see the results of this deployment with our partner Scorpio Tankers.' Cameron Mackey, Chief Operating Officer of Scorpio Tankers Inc. said: "We're proud to be part of this pilot project with Carbon Ridge, as they not only represent the leading edge of CCS technology, but they also have the requisite understanding of our industry to develop and implement practical solutions. We look forward to the results of the pilot and our continuing partnership as we face the challenges of decarbonisation for shipping." Notes to Editors About Carbon Ridge Based in Santa Monica, California, and Houston, Texas, Carbon Ridge is a leading developer of onboard carbon capture and storage (OCCS) solutions for the maritime industry. Its modular, scalable, and fuel-agnostic technology provides a low-cost, near-term pathway to reduce greenhouse gas emissions from commercial shipping. Designed for seamless integration with vessel exhaust systems, Carbon Ridge's OCCS enables up to a 75% reduction in equipment size and volume compared to conventional CCS systems and is engineered to withstand the rigor of maritime operations. Carbon Ridge's system enables a 90%+ reduction in CO₂ emissions and eliminates over 99% of particulate matter, NOₓ, and SOₓ, delivering a comprehensive approach to meeting and exceeding IMO global regulations. In addition to onboard carbon capture, Carbon Ridge offers end-to-end carbon solutions - including CO₂ transportation, sequestration, and credit monetization - providing shipowners with a complete turnkey decarbonization platform. For more information, visit About Scorpio Tankers Inc Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 99 product tankers (38 LR2 tankers, 47 MR tankers and 14 Handymax tankers) with an average age of 9.4 years. Additional information about the Company is available at the Company's website
Associated Press
18-04-2025
- Business
- Associated Press
Scorpio Tankers Inc. Announces that on May 1, 2025, the Company Plans to Issue Its First Quarter 2025 Results and Have a Conference Call
MONACO, April 18, 2025 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG ) ('Scorpio Tankers,' or the 'Company') announced today that on Thursday, May 1, 2025, the Company plans to issue its first quarter 2025 earnings press release in the morning (Eastern Daylight Time) and host a conference call at 9:00 AM Eastern Daylight Time and 3:00 PM Central European Summer Time. Conference Call Information Title: Scorpio Tankers Inc. First Quarter 2025 Conference Call Date: Thursday May 1, 2025 Time: 9:00 AM Eastern Daylight Time and 3:00 PM Central European Summer Time The conference call will be available over the internet, through the Scorpio Tankers Inc. website and the webcast link: Participants for the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. The conference will also be available telephonically: US/Canada Dial-In Number: 1-888-596-4144 International Dial-In Number: +1-646-968-2525 Please ask to join the Scorpio Tankers Inc. call. Participants should dial into the call 10 minutes before the scheduled time. The information provided on the teleconference is only accurate at the time of the conference call, and the Company will take no responsibility for providing updated information. About Scorpio Tankers Inc. Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 99 product tankers (38 LR2 tankers, 47 MR tankers and 14 Handymax tankers) with an average age of 9.1 years. Additional information about the Company is available at the Company's website which is not a part of this press release. Forward-Looking Statements Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words 'believe,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'plan,' 'target,' 'project,' 'likely,' 'may,' 'will,' 'would,' 'could' and similar expressions identify forward‐looking statements. The forward‐looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company's control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise. In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies in response to epidemics and other public health concerns including any effect on demand for petroleum products and the transportation thereof, expansion and growth of the Company's operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company's operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company's vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, including the impact of the conflict in Ukraine and the developments in the Middle East, including the armed conflict between Israel and Hamas, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off‐hires, and other factors. Please see the Company's filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties. Contact Information Scorpio Tankers Inc. James Doyle – Head of Corporate Development & Investor Relations Tel: +1 203-900-0559 Email: [email protected]
Yahoo
05-04-2025
- Business
- Yahoo
Should You Consider Selling Scorpio Tankers (STNG)?
Renaissance Investment Management, an investment management company, released its Q4 2024 'International Small Cap Strategy' investor letter. A copy of the letter can be downloaded here. In 2024, international equities experienced a second consecutive year of growth but underperformed their U.S. counterparts due to weak economic growth, political turmoil, tariff threats, and a strong U.S. dollar. The portfolio generated negative returns in the fourth quarter but outperformed the benchmark. For more information on the fund's best picks in 2024, please check its top five holdings. In its fourth quarter 2024 investor letter, Renaissance International Small Cap Strategy emphasized stocks such as Scorpio Tankers Inc. (NYSE:STNG). Scorpio Tankers Inc. (NYSE:STNG) engages in the seaborne transportation of crude oil and refined petroleum products. The one-month return of Scorpio Tankers Inc. (NYSE:STNG) was -13.29%, and its shares lost 52.08% of their value over the last 52 weeks. On April 3, 2025, Scorpio Tankers Inc. (NYSE:STNG) stock closed at $34.39 per share with a market capitalization of $1.717 billion. Renaissance International Small Cap Strategy stated the following regarding Scorpio Tankers Inc. (NYSE:STNG) in its Q4 2024 investor letter: "Conversely, we sold Scorpio Tankers Inc. (NYSE:STNG) (Marshall Islands), given falling tanker rates and the company's announcement that they bought a 5% stake in an oil tanker company, a surprising use of capital after management signaled they would aggressively buy back their own shares." A fleet of oil tankers sailing along a rough ocean, the sun setting in the horizon. Scorpio Tankers Inc. (NYSE:STNG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Scorpio Tankers Inc. (NYSE:STNG) at the end of the fourth quarter compared to 32 in the third quarter. While we acknowledge the potential of Scorpio Tankers Inc. (NYSE:STNG) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. We covered Scorpio Tankers Inc. (NYSE:STNG) in another article, where we shared the list of best small-cap stocks to buy before they explode. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
17-03-2025
- Business
- Yahoo
Scorpio Tankers' (NYSE:STNG) investors will be pleased with their splendid 178% return over the last five years
It hasn't been the best quarter for Scorpio Tankers Inc. (NYSE:STNG) shareholders, since the share price has fallen 16% in that time. But that doesn't change the fact that shareholders have received really good returns over the last five years. Indeed, the share price is up an impressive 148% in that time. So while it's never fun to see a share price fall, it's important to look at a longer time horizon. The more important question is whether the stock is too cheap or too expensive today. Unfortunately not all shareholders will have held it for the long term, so spare a thought for those caught in the 45% decline over the last twelve months. With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. Check out our latest analysis for Scorpio Tankers While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). During the five years of share price growth, Scorpio Tankers moved from a loss to profitability. Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. You can see below how EPS has changed over time (discover the exact values by clicking on the image). We know that Scorpio Tankers has improved its bottom line over the last three years, but what does the future have in store? You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Scorpio Tankers' TSR for the last 5 years was 178%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence! Investors in Scorpio Tankers had a tough year, with a total loss of 43% (including dividends), against a market gain of about 11%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 23% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. It's always interesting to track share price performance over the longer term. But to understand Scorpio Tankers better, we need to consider many other factors. Take risks, for example - Scorpio Tankers has 3 warning signs (and 1 which shouldn't be ignored) we think you should know about. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
16-02-2025
- Business
- Yahoo
Scorpio Tankers (NYSE:STNG) Has Affirmed Its Dividend Of $0.40
Scorpio Tankers Inc. (NYSE:STNG) has announced that it will pay a dividend of $0.40 per share on the 21st of March. Based on this payment, the dividend yield will be 3.6%, which is fairly typical for the industry. View our latest analysis for Scorpio Tankers While it is always good to see a solid dividend yield, we should also consider whether the payment is feasible. Before making this announcement, Scorpio Tankers was easily earning enough to cover the dividend. As a result, a large proportion of what it earned was being reinvested back into the business. Looking forward, earnings per share is forecast to fall by 81.8% over the next year. Assuming the dividend continues along recent trends, we believe the payout ratio could be 48%, which we are pretty comfortable with and we think is feasible on an earnings basis. While the company has been paying a dividend for a long time, it has cut the dividend at least once in the last 10 years. Since 2015, the annual payment back then was $3.20, compared to the most recent full-year payment of $1.60. The dividend has shrunk at around 6.7% a year during that period. A company that decreases its dividend over time generally isn't what we are looking for. With a relatively unstable dividend, and a poor history of shrinking dividends, it's even more important to see if EPS is growing. It's encouraging to see that Scorpio Tankers has been growing its earnings per share at 51% a year over the past five years. Earnings per share is growing at a solid clip, and the payout ratio is low which we think is an ideal combination in a dividend stock as the company can quite easily raise the dividend in the future. Overall, we think that this is a great income investment, and we think that maintaining the dividend this year may have been a conservative choice. The earnings easily cover the company's distributions, and the company is generating plenty of cash. We should point out that the earnings are expected to fall over the next 12 months, which won't be a problem if this doesn't become a trend, but could cause some turbulence in the next year. All of these factors considered, we think this has solid potential as a dividend stock. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. However, there are other things to consider for investors when analysing stock performance. To that end, Scorpio Tankers has 3 warning signs (and 1 which is concerning) we think you should know about. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
