Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and (iii) that it will not exercise the options to purchase two LR2s currently under construction (with deliveries expected in the fourth quarter of 2016 and first quarter of 2017) from Scorpio Bulkers Inc., a related party. On May 27, 2015, the Company's Board of Directors authorized a new securities buyback program to purchase up to an aggregate of $250 million of the Company's common stock and bonds, which currently consist of its (i) Convertible Senior Notes Due 2019, which were issued in June 2014…