History
In 1976, Italian businessman Glauco Lolli-Ghetti founded Scorpio Ship Management in New York and soon returned to Europe, settling in Monaco. In 2003, Scorpio Ship Management was headed by the businessman's grandson, 24-year-old Emanuele A. Lauro. In 2009, the tanker fleet was separated into a separate structure, Scorpio Tankers. Scorpio Tankers’ principal executive office is in Monaco with an office in New York, NY. In April 2010, Scorpio Tankers completed its underwriting initial public offering on the New York Stock Exchange (NYSE) and its common shares are listed for trading on the NYSE as “STNG”. The company put up 12.5 million shares for sale at a starting price of $13. As a result, it raised about $150 million. In May 2017, the company signed a merger with Navig8 Product Tankers, acquiring their 27 recently built LR tankers. The deal made Scorpio Tankers the largest product tanker firm on a U.S. securities exchange. In January 2021, Scorpio Tankers decided to sell and lease back one LR2 product tanker and three MR product tankers to China’s AVIC International Leasing. In March 2021, the company announced $138.2 million convertible note exchange and a new issuance. == Fleet ==