Scorpio Tankers also repurchased approximately 2 million shares for $155 million during the quarter. Lauro said the VLCC joint venture was strategically motivated rather than financially significant relative to Scorpio Tankers’ balance sheet. Lauro said the timing allows Scorpio Tankers to remain exposed to the current spot market before the agreements begin. About Scorpio Tankers (NYSE:STNG)Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.