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

Scorpio Tankers Inc. Announces Time Charter-In Agreement for a Product Tanker 
MONACO -- (Marketwire) -- 03/06/13 --  Scorpio Tankers Inc. (NYSE:
STNG) (the "Company") announced today that it has agreed to time
charter-in a product tanker. The terms of the contract is summarized
as follows. 


 
--  A 2013 built MR product tanker will be time chartered-in for two years
    at $14,121 per day and is expected to be delivered by the end of April
    2013. The agreement includes an option for the Company to extend the
    charter for an additional year at $15,504 per day. Upon delivery, the
    vessel will be time chartered-out for up to 80 days at $22,850 per
    day.

  
About Scorpio Tankers Inc.  
Scorpio Tankers Inc. is a provider of marine transportation of
petroleum products worldwide. Scorpio Tankers Inc. currently owns 13
tankers (one LR2 tanker, four LR1 tankers, one Handymax tanker, six
MR tankers, and one post-Panamax tanker) with an average age of 4.6
years, time charters-in 20 product tankers (three LR2, three LR1,
nine MR and five Handymax tankers), and has contracted for 26
newbuilding product tankers (20 MR and six Handymax vessels), two of
which are expected to be delivered to the Company by April 2013 and
the remaining 24 by the end of 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. 
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," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" 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, our management's
examination of historical operating trends, data contained in our
records and other data available from third parties. Although we
believe 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 our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections. 
In addition to these important factors, other important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include the failure
of counterparties to fully perform their contracts with us, 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 our
operating expenses, including bunker prices, drydocking and insurance
costs, the market for our 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,
potential disruption of shipping routes due to accidents or political
events, vessels breakdowns and instances of off-hires and other
factors. Please see our filings with the Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties. 
Scorpio Tankers Inc. 
212-542-1616 
 
 
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