Scorpio Tankers Inc. Announces Update on Daily TCE Revenues and Securities Repurchase Program
Scorpio Tankers Inc. announces updates on fourth quarter of 2022 and first quarter of 2023 Daily TCE Revenues, and its Securities Repurchase Program.
First Quarter of 2023 and Fourth Quarter of 2022 Daily Time Charter Equivalent (“TCE”) Revenues
Below is a summary of the estimated average daily Time Charter Equivalent (“TCE”) revenue and duration of contracted voyages and time charters for the Company’s vessels (both in the pools and outside of the pools) thus far in the first quarter of 2023 as of the date hereof:
Below is a summary of the estimated average daily TCE revenue earned by the Company’s vessels during the fourth quarter of 2022. Fourth quarter of 2022 estimated average daily TCE revenues and Expected Revenue Days remain subject to change as the Company performs its closing process for the quarter.
Securities Repurchase Program
Since the Company’s previous announcement on January 4, 2023, the Company has repurchased an additional 958,806 of its common shares in the open market at an average price of $49.47 per share as part of its Securities Repurchase Program.
Since December 1, 2022, the Company has repurchased 2,324,372 of its common shares in the open market at an average price of $50.78 per share as part of its Securities Repurchase Program.
As of the date of this press release, there is $132.0 million of remaining availability under the Company’s Securities Repurchase Program, and there are 59,727,998 common shares outstanding.
Source: Scorpio Tankers Inc.