Page 1

Exhibit 99.1 CCORPIO Tankers Inc. Scorpio Tankers Inc. Announces Financial Results for the First Quarter of 2021 and Declaration of a Quarterly Dividend MONACO -- ( GLOBE NEWSWIRE - May 7 , 2021 ) - Scorpio Tankers Inc. ( NYSE : STNG ) ( " Scorpio Tankers " or the " Company " ) today reported its results for the three months ended March 31 , 2021. The Company also announced that its Board of Directors has declared a quarterly cash dividend of $ 0.10 per share on the Company's common stock . Results for the three months ended March 31 , 2021 and 2020 For the three months ended March 31 , 2021 , the Company had a net loss of $ 62.4 million , or $ 1.15 basic and diluted loss per share . For the three months ended March 31 , 2021 , the Company had an adjusted net loss ( see Non - IFRS Measures section below ) of $ 57.3 million , or $ 1.05 basic and diluted loss per share , which excludes from the net loss $ 3.9 million , or $ 0.07 per basic and diluted share , of losses recorded on the transaction to exchange $ 62.1 million in aggregate principal amount of its existing Convertible Notes due 2022 for $ 62.1 million in aggregate principal amount of new Convertible Notes due 2025 , described in detail below , and $ 1.3 million , or $ 0.02 per basic and diluted share , write - offs of deferred financing fees related to the refinancing of certain credit facilities . For the three months ended March 31 , 2020 , the Company had net income of $ 46.6 million , or $ 0.85 basic and $ 0.82 diluted earnings per share . There were no Non - IFRS adjustments to the net income for the three months ended March 31 , 2020 . Declaration of Dividend On May 6 , 2021 , the Company's Board of Directors declared a quarterly cash dividend of $ 0.10 per common share , payable on or about June 15 , 2021 to all shareholders of record as of May 21 , 2021 ( the record date ) . As of May 6 , 2021 , there were 58,369,516 common shares of the Company outstanding . Summary of First Quarter and Other Recent Significant Events Below is a summary of the average daily Time Charter Equivalent ( " TCE " ) revenue ( see Non - IFRS Measures section below ) and duration of contracted pool voyages and time charters for the Company's vessels thus far in the second quarter of 2021 as of the date hereof ( See footnotes to " Other operating data " table below for the definition of daily TCE revenue ) : 1