STNG - LONG

STNG - Long
Scorpio Tankers is one of the top Energy Transportation plays
Given the Russia Ukraine situation - rates could well remain elevated

Paying off debt of 500m + 250m share buyback (relative to a 2BN market cap this is significant!)

Management has invested in heavily ships in prior years - giving it a very young fleet (6.5 yrs avg) - as a result management has no plans to purchase/replace ships anytime soon (mentioned on earnings call) - This should free up cashflow

Could see another retest of that $37.50 area, but I'm happy to try for a position now