Scorpio Tankers Charter Agreement, Handymax Tanker

Scorpio Tankers Inc. (NYSE: STNG) announced today that it has entered into an agreement to charter-in a 2007 built Handymax ice class 1B product tanker (37,312 DWT), the Kazdanga. This vessel will be chartered-in for one year at $12,345 per day and is expected to be delivered in June 2011. The agreement includes an option for Scorpio Tankers to extend the charter for an additional year at $13,335 per day. The Kazdanga will participate in the Scorpio Handymax Tanker Pool, which is owned and operated by a related party.