The Hafnia-Achroite: Crew Feedback and Vessel Data

Scorpio Tankers has finalized agreements to merge with Navig8 Product Tankers, allowing Scorpio to enhance its fleet by acquiring Navig8’s 27 operational product tankers. In a structured transaction, Scorpio will initially procure four LR1 vessels prior to the merger's finalization. The remaining 23 tankers will be exchanged for 55 million shares of Scorpio common stock distributed to Navig8's shareholders once the merger concludes. Furthermore, Scorpio will compensate Navig8 with a cash payment of $42.2 million, which accounts for the debt assumed during the acquisition process. This cash influx is set to remain within Navig8 until the merger's completion and will be integrated into the balance sheet of the newly formed entity. With this merger, Scorpio Tankers will enhance its eco-friendly operating fleet, which now includes 27 product tankers, consisting of 15 LR2s and 12 LR1s. These tankers boast an impressive average age of just 0.9 years and collectively have a carrying capacity close to 2.6 million deadweight tons (dwt). This strategic move underscores Scorpio's commitment to reinforcing its market position in the product tanker industry.