Scorpio Tankers Inc. Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>Scorpio Tankers Inc. has submitted its 20-F annual report detailing financial performance and assets for the fiscal year 2023.</b>

AI Summary

Scorpio Tankers Inc. (STNG) filed a Foreign Annual Report (20-F) with the SEC on March 22, 2024. Scorpio Tankers Inc. filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data points such as ordinary shares, issued capital, additional paid-in capital, treasury shares, and retained earnings for the fiscal years 2020-2023 are detailed. Information regarding Convertible Senior Notes due in 2025 and 2022 is included, with specific dates of issuance or reporting periods. The report details Property, Plant, and Equipment, specifically focusing on Ships, including Handymax vessels as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking Scorpio Tankers Inc., this filing contains several important signals. This filing provides a comprehensive overview of Scorpio Tankers' financial position and operational assets for the most recent fiscal year, crucial for investors assessing the company's stability and performance. The detailed breakdown of financial instruments like convertible notes and capital accounts offers insights into the company's debt structure and equity financing strategies.

Risk Assessment

Risk Level: low — Scorpio Tankers Inc. shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain new material events or significant financial shifts that would indicate immediate high risk.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand Scorpio Tankers' current financial health and future outlook.

Key Numbers

• 2023-12-31 — Reporting Period End Date (Fiscal year end)
• 2024-03-22 — Filing Date (Date the 20-F was filed)
• 2023 — Fiscal Year (Year covered by the report)

Key Players & Entities

• Scorpio Tankers Inc. (company) — Filer of the 20-F report
• 2023-12-31 (date) — End of the reporting period
• 2024-03-22 (date) — Filing date
• 0001483934 (company) — Central Index Key for Scorpio Tankers Inc.
• STNG (ticker) — Ticker symbol for Scorpio Tankers Inc.
• Monaco (location) — Business and mail address location

FAQ

Industry Context

Scorpio Tankers Inc. operates in the international maritime transportation industry, specifically focusing on the transport of refined petroleum products and crude oil.

Regulatory Implications

As a foreign private issuer, Scorpio Tankers Inc. files an annual report on Form 20-F with the U.S. Securities and Exchange Commission (SEC), which is a substitute for the annual report on Form 10-K.

What Investors Should Do

1. Review the detailed financial statements and notes in the 20-F for a complete understanding of STNG's financial health.
2. Analyze the company's asset base, particularly its fleet of vessels, as detailed in the filing.
3. Examine any disclosed risk factors to assess potential challenges and their impact on the company.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-03-22: Filing Date — Date Scorpio Tankers Inc. submitted its 20-F annual report.

Year-Over-Year Comparison

This filing represents the annual 20-F report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share STNG New York Stock Exchange

Filing Documents

• stng-20231231.htm (20-F) — 4885KB
• fy2023-exhibit43c.htm (EX-4.3C) — 280KB
• fy2023-exhibit81.htm (EX-8.1) — 120KB
• fy2023-exhibit101.htm (EX-10.1) — 145KB
• fy2023-exhibit121.htm (EX-12.1) — 8KB
• fy2023-exhibit122.htm (EX-12.2) — 8KB
• fy2023-exhibit131.htm (EX-13.1) — 5KB
• fy2023-exhibit132.htm (EX-13.2) — 5KB
• fy2023-exhibit151.htm (EX-15.1) — 3KB
• fy2023-exhibit152.htm (EX-15.2) — 7KB
• fy2023-exhibit153.htm (EX-15.3) — 3KB
• fy2023-exhibit971.htm (EX-97.1) — 66KB
• a2024.jpg (GRAPHIC) — 8KB
• drewry2a02a.jpg (GRAPHIC) — 6KB
• image_0a.jpg (GRAPHIC) — 94KB
• jayendukrishnasignaturea.jpg (GRAPHIC) — 3KB
• stng-20231231_g1.jpg (GRAPHIC) — 223KB
• stng-20231231_g2.jpg (GRAPHIC) — 176KB
• stng-20231231_g3.jpg (GRAPHIC) — 161KB
• 0001483934-24-000025.txt (&nbsp;) — 23965KB
• stng-20231231.xsd (EX-101.SCH) — 213KB
• stng-20231231_cal.xml (EX-101.CAL) — 107KB
• stng-20231231_def.xml (EX-101.DEF) — 1444KB
• stng-20231231_lab.xml (EX-101.LAB) — 1302KB
• stng-20231231_pre.xml (EX-101.PRE) — 1611KB
• stng-20231231_htm.xml (XML) — 3210KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No X TABLE OF CONTENTS PART I 1

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1

KEY INFORMATION

ITEM 3. KEY INFORMATION 2

INFORMATION ON THE COMPANY

ITEM 4. INFORMATION ON THE COMPANY 27

UNRESOLVED STAFF COMMENTS

ITEM 4A. UNRESOLVED STAFF COMMENTS 61

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 62

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 87

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 95

FINANCIAL INFORMATION

ITEM 8. FINANCIAL INFORMATION 101

OFFER AND THE LISTING

ITEM 9. OFFER AND THE LISTING 102

ADDITIONAL INFORMATION

ITEM 10. ADDITIONAL INFORMATION 102

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 114

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 115 PART II 116

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 116

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 116

CONTROLS AND PROCEDURES

ITEM 15. CONTROLS AND PROCEDURES 116

AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 116

CODE OF ETHICS

ITEM 16B. CODE OF ETHICS 117

PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 16C. PRINCIPAL ACCOUNTING FEES AND SERVICES 117

EXEMPTIONS FROM LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D. EXEMPTIONS FROM LISTING STANDARDS FOR AUDIT COMMITTEES 117

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 118

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 118

CORPORATE GOVERNANCE

ITEM 16G. CORPORATE GOVERNANCE 119

MINE SAFETY DISCLOSURE

ITEM 16H. MINE SAFETY DISCLOSURE 119

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 119

INSIDER TRADING POLICIES

ITEM 16J. INSIDER TRADING POLICIES 119

CYBERSECURITY

ITEM 16K. CYBERSECURITY 119 PART III 121

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS 121

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 121

EXHIBITS

ITEM 19. EXHIBITS 122 CAUTIONARY STATEMENT REGARDING 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. This document includes assumptions, expectations, projections, intentions and beliefs about future events. These statements are intended as "forward-looking statements." We desire to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are including this cautionary statement in connection therewith. This report and any other written or oral statements made by us or on our behalf may include forward-looking statements, which reflect our current views with respect to future events and financial performance, and are not intended to give any assurance as to future results. We caution that assumptions, expectations, projections, intentions and beliefs about future events may and often do vary from actual results and the differences can be material. When used in this document, the words "believe," "expect," "anticipate," "estimate," "intend," "seek," "plan," "potential," "continue," "contemplate," "possible," "target," "project," "likely," "may," "might," "would," "could" and similar expressions, terms, or phrases may identify forward-looking statements. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about the business and our future financial results and readers should not place undue reliance on them. The forward-looking statements in this report are based upon various assumptions, many of which are based, in turn,

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable. 1 Table of Contents

KEY INFORMATION

ITEM 3. KEY INFORMATION Unless the context otherwise requires, when used in this annual report, the terms "Scorpio Tankers," the "Company," "we," "our" and "us" refer to Scorpio Tankers Inc. and its subsidiaries. "Scorpio Tankers Inc." refers only to Scorpio Tankers Inc. and not its subsidiaries. Unless otherwise indicated, all references to "dollars," "US dollars" and "

View Full Filing

View this 20-F filing on SEC EDGAR