Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2017 shares
Document and Entity Information [Abstract]
Entity Registrant Name	Scorpio Tankers Inc.
Entity Central Index Key	0001483934
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	326,507,544

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 186,462	$ 99,887
Accounts receivable	65,458	42,329
Prepaid expenses and other current assets	17,720	9,067
Derivative financial instruments	0	116
Inventories	9,713	6,122
Total current assets	279,353	157,521
Non-current assets
Vessels and drydock	4,090,094	2,913,254
Vessels under construction	55,376	137,917
Other assets	50,684	21,495
Goodwill	11,482	0
Restricted cash	11,387	0
Total non-current assets	4,219,023	3,072,666
Total assets	4,498,376	3,230,187
Current liabilities
Current portion of long-term debt	113,036	353,012
Finance lease liability	50,146	0
Accounts payable	13,044	9,282
Accrued expenses	32,838	23,024
Total current liabilities	209,064	385,318
Non-current liabilities
Long-term debt	1,937,018	1,529,669
Finance lease liability	666,993	0
Total non-current liabilities	2,604,011	1,529,669
Total liabilities	2,813,075	1,914,987
Shareholders’ equity
Common stock, $0.01 par value per share; 400,000,000 shares authorized; 326,507,544 and 174,629,755 issued and outstanding shares as of December 31, 2017 and December 31, 2016, respectively.	3,766	2,247
Additional paid-in capital	2,283,591	1,756,769
Treasury shares	(443,816)	(443,816)
Accumulated deficit	(158,240)	0
Total shareholders’ equity	1,685,301	1,315,200
Total liabilities and shareholders’ equity	$ 4,498,376	$ 3,230,187

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Disclosure of classes of share capital [line items]
Common stock, par value (in dollars per share)	$ 0.01
Common stock [member]
Disclosure of classes of share capital [line items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	326,507,544	174,629,755
Common stock, shares outstanding (in shares)	326,507,544	174,629,755

Consolidated Statements of Income or Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue
Vessel revenue	$ 512,732	$ 522,747	$ 755,711
Operating expenses
Vessel operating costs	(231,227)	(187,120)	(174,556)
Voyage expenses	(7,733)	(1,578)	(4,432)
Charterhire	(75,750)	(78,862)	(96,865)
Depreciation	(141,418)	(121,461)	(107,356)
General and administrative expenses	(47,511)	(54,899)	(65,831)
Loss on sales of vessels, net	(23,345)	(2,078)	(35)
Merger transaction related costs	(36,114)	0	0
Bargain purchase gain	5,417	0	0
Write-off of vessel purchase options	0	0	(731)
Gain on sale of Dorian shares	0	0	1,179
Total operating expenses	(557,681)	(445,998)	(448,627)
Operating (loss) / income	(44,949)	76,749	307,084
Other (expense) and income, net
Financial expenses	(116,240)	(104,048)	(89,596)
Realized (loss) / gain on derivative financial instruments	(116)	0	55
Unrealized gain / (loss) on derivative financial instruments	0	1,371	(1,255)
Financial income	1,538	1,213	145
Other expenses, net	1,527	(188)	1,316
Total other expense, net	(113,291)	(101,652)	(89,335)
Net (loss) / income	(158,240)	(24,903)	217,749
Attributable to:
Equity holders of the parent	$ (158,240)	$ (24,903)	$ 217,749
(Loss) / earnings per share
(Loss) / earnings per share, basic (in USD per share)	$ (0.73)	$ (0.15)	$ 1.35
(Loss) / earnings per share, diluted (in USD per share)	$ (0.73)	$ (0.15)	$ 1.20
Basic weighted average number of shares (in shares)	215,333,402	161,118,654	161,436,449
Diluted weighted average number of shares (in shares)	215,333,402	161,118,654	199,739,326

Consolidated Statements of Comprehensive Income or Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of comprehensive income [abstract]
Net (loss) / income	$ (158,240)	$ (24,903)	$ 217,749
Items that may be reclassified subsequently to profit or loss
Change in value of available for sale investment	0	0	10,801
Cash flow hedges
Unrealized gain on derivative financial instruments	0	0	77
Other comprehensive income	0	0	10,878
Total comprehensive (loss) / income	(158,240)	(24,903)	228,627
Attributable to:
Equity holders of the parent	$ (158,240)	$ (24,903)	$ 228,627

Consolidated Statements of Changes in Shareholders' Equity
$ in Thousands

USD ($)

Share capital

USD ($)

Additional paid-in capital

USD ($)

Treasury shares

USD ($)

(Accumulated deficit) / retained earnings

USD ($)

Accumulated other comprehensive (loss) / income

USD ($)

Beginning balance at Dec. 31, 2014

$ 1,162,848

$ 2,033

$ 1,550,956

$ (351,283)

$ (27,980)

$ (10,878)

Beginning balance (in shares) at Dec. 31, 2014 | shares

164,574,542

Net (loss) / income

217,749

Other comprehensive income

10,878

Net proceeds from follow on offerings

152,194

$ 172

152,022

Net proceeds from follow on offerings (in shares) | shares

17,177,123

Issuance of restricted stock, net of forfeitures

$ 19

(19)

Issuance of restricted stock, net of forfeitures (in shares) | shares

1,857,444

Amortization of restricted stock, net of forfeitures

33,687

Dividends paid

^[1]

(87,056)

(6,945)

(80,111)

Purchase of treasury shares

(76,028)

Purchase of treasury shares (in shares) | shares

(8,273,709)

Equity component of repurchase of the Convertible Notes

(387)

Ending balance at Dec. 31, 2015

1,413,885

$ 2,224

1,729,314

(427,311)

109,658

Ending balance (in shares) at Dec. 31, 2015 | shares

175,335,400

Net (loss) / income

(24,903)

Other comprehensive income

Issuance of restricted stock, net of forfeitures

$ 23

(23)

Issuance of restricted stock, net of forfeitures (in shares) | shares

2,251,115

Amortization of restricted stock, net of forfeitures

30,207

Dividends paid

^[1]

(86,923)

(2,168)

(84,755)

Purchase of treasury shares

(16,505)

Purchase of treasury shares (in shares) | shares

(2,956,760)

Equity issuance costs

(24)

Equity component of repurchase of the Convertible Notes

(537)

Ending balance at Dec. 31, 2016

1,315,200

$ 2,247

1,756,769

(443,816)

Ending balance (in shares) at Dec. 31, 2016 | shares

174,629,755

Net (loss) / income

(158,240)

Other comprehensive income

Net proceeds from follow on offerings

288,444

$ 845

287,599

Net proceeds from follow on offerings (in shares) | shares

84,500,000

Issuance of restricted stock, net of forfeitures

$ 109

(109)

Issuance of restricted stock, net of forfeitures (in shares) | shares

10,877,799

Amortization of restricted stock, net of forfeitures

22,385

Dividends paid

^[1]

(9,561)

Shares issued as consideration for merger with NPTI

221,100

$ 550

220,550

Shares issued as consideration for merger with NPTI (in shares) | shares

54,999,990

Warrants exercised relating to merger with NPTI

5,973

$ 15

5,958

Warrants exercised relating to merger with NPTI (in shares) | shares

1,500,000

Ending balance at Dec. 31, 2017

$ 1,685,301

$ 3,766

$ 2,283,591

$ (443,816)

$ (158,240)

$ 0

Ending balance (in shares) at Dec. 31, 2017 | shares

326,507,544

[1]	The Company's policy is to distribute dividends from available retained earnings first and then from additional paid in capital.

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares													12 Months Ended
	Dec. 28, 2017	Sep. 29, 2017	Jun. 14, 2017	Mar. 30, 2017	Dec. 22, 2016	Sep. 29, 2016	Jun. 24, 2016	Mar. 30, 2016	Dec. 11, 2015	Sep. 04, 2015	Jun. 10, 2015	Mar. 30, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of changes in equity [abstract]
Dividends paid per share (in USD per share)	$ 0.010	$ 0.010	$ 0.010	$ 0.010	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.12	$ 0.04	$ 0.50	$ 0.495
NPTI [Member]
Price per share (in USD per share)													$ 4.02

Consolidated Cash Flow Statements - USD ($) $ in Thousands	12 Months Ended
Consolidated Cash Flow Statements - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net (loss) / income	$ (158,240)	$ (24,903)	$ 217,749
Gain on sale of Dorian Shares	0	0	(1,179)
Loss from sales of vessels	23,345	2,078	35
Write-off of vessel purchase options	0	0	731
Depreciation	141,418	121,461	107,356
Amortization of restricted stock	22,385	30,207	33,687
Amortization of deferred financing fees	13,381	14,149	14,688
Write-off of deferred financing fees	2,467	14,479	2,730
Bargain purchase gain	(5,417)	0	0
Share based merger transaction costs	5,973	0	0
Unrealized (gain) / loss on derivative financial instruments	0	(1,371)	1,255
Amortization of acquired time charter contracts	0	65	513
Accretion of Convertible Notes	12,211	11,562	11,096
Accretion of fair market measurement on debt assumed from merger with NPTI	1,478	0	0
Gain on repurchase of Convertible Notes	0	(994)	(46)
Cash flows from (used) in operating activities before changes in assets and liabilities	59,001	166,733	388,615
Changes in assets and liabilities:
(Increase) / decrease in inventories	(1,319)	564	(1,909)
(Increase) / decrease in accounts receivable	(1,478)	26,688	9,184
Decrease / (increase) in prepaid expenses and other current assets	12,219	(5,546)	(1,615)
(Increase) / decrease in other assets	(22,651)	2,045	(14,153)
Increase / (decrease) in accounts payable	3,694	(2,487)	775
(Decrease) / increase in accrued expenses	(7,665)	(9,486)	11,206
Interest rate swap termination payment	0	0	(128)
Total changes in assets and liabilities	(17,200)	11,778	3,360
Net cash inflow from operating activities	41,801	178,511	391,975
Investing activities
Acquisition of vessels and payments for vessels under construction	(258,311)	(126,842)	(905,397)
Proceeds from disposal of vessels	127,372	158,175	90,820
Net cash paid for the merger with NPTI	(23,062)	0	0
Drydock payments	(5,922)	0	0
Proceeds from sale of Dorian shares	0	0	142,436
Deposit returned for vessel purchases	0	0	(31,277)
Net cash (outflow) / inflow from investing activities	(159,923)	31,333	(703,418)
Financing activities
Debt repayments	(546,296)	(753,431)	(226,260)
Issuance of debt	525,642	565,028	643,550
Debt issuance costs	(11,758)	(10,679)	(8,497)
Increase in restricted cash	(2,279)	0	0
Repayment of Convertible Notes	0	(8,393)	(1,632)
Gross proceeds from issuance of common stock	303,500	0	159,747
Equity issuance costs	(15,056)	(24)	(7,554)
Dividends paid	(9,561)	(86,923)	(87,056)
Redemption of NPTI Redeemable Preferred Shares	(39,495)	0	0
Repurchase of common stock	0	(16,505)	(76,028)
Net cash inflow / (outflow) from financing activities	204,697	(310,927)	396,270
Increase / (decrease) in cash and cash equivalents	86,575	(101,083)	84,827
Cash and cash equivalents at January 1,	186,462	99,887	200,970
Cash and cash equivalents at December 31,	99,887	200,970	116,143
Supplemental information:
Interest paid	$ 92,034	$ 69,008	$ 63,418

General Information and Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Corporate Information And Statement Of IFRS Compliance [Abstract]

General information and significant accounting policies

Company

Scorpio Tankers Inc. and its subsidiaries (together “we”, “our” or the “Company”) are engaged in the seaborne transportation of refined petroleum products in the international shipping markets. Scorpio Tankers Inc. was incorporated in the Republic of the Marshall Islands on July 1, 2009. On April 6, 2010, we closed on our initial public offering, and the common stock currently trades on the New York Stock Exchange under the symbol STNG.

In May 2017, we entered into definitive agreements to acquire Navig8 Product Tankers Inc ("NPTI"), including its fleet of 12 LR1 and 15 LR2 product tankers for approximately 55 million common shares of the Company and the assumption of NPTI's debt (herein referred to as "the Merger"). Part of the business was acquired in June 2017 when we acquired four subsidiaries of NPTI that owned four LR1 product tankers (the "NPTI Acquisition Vessels”), and the other part was acquired in September 2017 (the "September Closing") when the Merger closed.

Following the closing of the Merger, our fleet as of December 31, 2017 consisted of 107 owned or finance leased product tankers (14 Handymax, 43 MR, 12 LR1 and 38 LR2), 19 time or bareboat chartered-in product tankers (nine Handymax, nine MR and one LR2) and two MR product tankers under construction.

Our vessels are commercially managed by Scorpio Commercial Management S.A.M., or SCM, which is majority owned by the Lolli-Ghetti family of which, Mr. Emanuele Lauro, our Chairman and Chief Executive Officer, and Mr. Filippo Lauro, our Vice President, are members. SCM’s services include securing employment, in pools, in the spot market, and on time charters.

Our vessels are technically managed by Scorpio Ship Management S.A.M., or SSM, which is majority owned by the Lolli-Ghetti family. SSM facilitates vessel support such as crew, provisions, deck and engine stores, insurance, maintenance and repairs, and other services necessary to operate the vessels such as drydocks and vetting/inspection under a technical management agreement.

We also have an administrative services agreement with Scorpio Services Holding Limited, or SSH, which is majority owned by the Lolli-Ghetti family. The administrative services provided under this agreement primarily include accounting, legal compliance, financial, information technology services, and the provision of administrative staff and office space, which are contracted to subsidiaries of SSH. We pay our managers fees for these services and reimburse them for direct or indirect expenses that they incur in providing these services.

Basis of accounting

The consolidated financial statements incorporate the financial statements of Scorpio Tankers Inc. and its subsidiaries. The consolidated financial statements have been presented in United States dollars, or USD or $, which is the functional currency of Scorpio Tankers Inc. and all its subsidiaries, and have been authorized for issue by the Board of Directors on March 22, 2018. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRSs, as issued by the International Accounting Standards Board and on a historical cost basis, except for the revaluation of certain financial instruments.

All inter-company transactions, balances, income and expenses were eliminated on consolidation.

Going concern

The financial statements have been prepared in accordance with the going concern basis of accounting as described further in the “Liquidity risk” section of Note 24.

Significant Accounting Policies

The following is a discussion of our significant accounting policies that were in effect during the years ended December 31, 2017, 2016 and 2015. Beginning on January 1, 2018, we changed the methodology for recognizing revenue and voyage expenses to comply with the new accounting standards. This new accounting policy is discussed below under Standards and Interpretations issued and adopted in 2018.

Revenue recognition

Vessel revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, and other sales-related or value added taxes.

Vessel revenue is comprised of time charter revenue, voyage revenue, and pool revenue.


(1)	Pool revenue for each vessel is determined in accordance with the profit sharing terms specified within each pool agreement. In particular, the pool manager aggregates the revenues and expenses of all of the pool participants and distributes the net earnings to participants based on:


•	the pool points (vessel attributes such as cargo carrying capacity, fuel consumption, and construction characteristics are taken into consideration); and

•

the number of days the vessel participated in the pool in the period. We recognize pool revenue on a monthly basis, when the vessel has participated in a pool during the period and the amount of pool revenue for the month can be estimated reliably. We receive estimated vessel earnings based on the known number of days the vessel has participated in the pool, the contract terms, and the estimated monthly pool revenue. On a quarterly basis, we receive a report from the pool which identifies the number of days the vessel participated in the pool, the total pool points for the period, the total pool revenue for the period, and the calculated share of pool revenue for the vessel. We review the quarterly report for consistency with each vessel’s pool agreement and vessel management records. The estimated pool revenue is reconciled quarterly, coinciding with our external reporting periods, to the actual pool revenue earned, per the pool report. Consequently, in our financial statements, reported revenues represent actual pooled revenues. While differences do arise in the performance of these quarterly reconciliations, such differences are not material to total reported revenues.


(2)	Time charter revenue is recognized as services are performed based on the daily rates specified in the time charter contract.

(3)

Voyage charter agreements are charter hires, where a contract is made in the spot market for the use of a vessel for a specific voyage for a specified charter rate. Revenue from voyage charter agreements was recognized as voyage revenue on a pro-rata basis over the duration of the voyage on a discharge to discharge basis. In the application of this policy, we did not begin recognizing revenue until (i) the amount of revenue could be measured reliably, (ii) it was probable that the economic benefits associated with the transaction would flow to the entity, (iii) the transactions stage of completion at the balance sheet date could be measured reliably and (iv) the costs incurred and the costs to complete the transaction could be measured reliably.

Voyage expenses

Voyage expenses, which primarily include bunkers, port charges, canal tolls, cargo handling operations and brokerage commissions paid by us under voyage charters, were expensed ratably over the estimated length of each voyage, which can be allocated between reporting periods based on the timing of the voyage. The impact of recognizing voyage expenses ratably over the length of each voyage was not materially different on a quarterly and annual basis from a method of recognizing such costs as incurred. Consistent with our revenue recognition for voyage charters, voyage expenses were calculated on a discharge-to-discharge basis.

The procurement of these services is managed on our behalf by our commercial manager, SCM (see Note 17).

Vessel operating costs

Vessel operating costs, which include crewing, repairs and maintenance, insurance, stores, lubricating oil consumption, communication expenses, and technical management fees, are expensed as incurred for vessels that are owned, finance leased or bareboat chartered-in. The procurement of these services is managed on our behalf by our technical manager, SSM (see Note 17).

(Loss) / earnings per share

Basic (loss) / earnings per share is calculated by dividing net (loss) / income attributable to equity holders of the parent by the weighted average number of common shares outstanding. Diluted (loss) / earnings per share is calculated by adjusting the net (loss) / income attributable to equity holders of the parent and the weighted average number of common shares used for calculating basic per share for the effects of all potentially dilutive shares. Such dilutive common shares are excluded when the effect would be to reduce a loss per share or increase earnings per share.

In the years ended December 31, 2017, 2016 and 2015, there were potentially dilutive items as a result of our Equity Incentive Plans (see Note 16) and our convertible senior notes due 2019, or the Convertible Notes, (as described in Note 13). Potentially dilutive items related to our Equity Incentive Plans and Convertible Notes were excluded from the composition of diluted earnings per share for the years ended December 31, 2017 and December 31, 2016 because their effect would have been anti-dilutive.

We apply the if-converted method when determining diluted (loss) / earnings per share. This requires the assumption that all potential ordinary shares have been converted into ordinary shares at the beginning of the period or, if not in existence at the beginning of the period, the date of the issue of the financial instrument or the granting of the rights by which they are granted. Under this method, once potential ordinary shares are converted into ordinary shares during the period, the dividends, interest and other expense associated with those potential ordinary shares will no longer be incurred. The effect of conversion, therefore, is to increase income (or reduce losses) attributable to ordinary equity holders as well as the number of shares in issue. Conversion will not be assumed for purposes of computing diluted earnings per share if the effect would be anti-dilutive.

Charterhire expense

Charterhire expense is the amount we pay to vessel owners to time or bareboat charter-in vessels. The amount is usually for a fixed period of time at rates that are generally fixed, but may contain a variable component based on inflation, interest rates, profit sharing or current market rates. In a time charter-in arrangement, the vessel’s owner is responsible for crewing and other vessel operating costs, whereas these costs are the responsibility of the charterer in a bareboat charter-in arrangement. Charterhire expense is recognized ratably over the charterhire period.

Operating leases

Costs in respect of operating leases are charged to the consolidated statement of income or loss on a straight line basis over the lease term.

Foreign currencies

The individual financial statements of Scorpio Tankers Inc. and each of its subsidiaries are presented in the currency of the primary economic environment in which we operate (its functional currency), which in all cases is U.S. dollars. For the purpose of the consolidated financial statements, our results and financial position are also expressed in U.S. dollars.

In preparing the financial statements of Scorpio Tankers Inc. and each of its subsidiaries, transactions in currencies other than the U.S. dollar are recorded at the rate of exchange prevailing on the dates of the transactions. At the end of each reporting period, monetary assets and liabilities denominated in other currencies are retranslated into the functional currency at rates ruling at that date. All resultant exchange differences have been recognized in the consolidated statements of income or loss. The amounts charged to the consolidated statements of income or loss during the years ended December 31, 2017, 2016 and 2015 were not material.

Segment reporting

During the years ended December 31, 2017, 2016 and 2015, we owned, finance leased or chartered-in vessels spanning four different vessel classes, Handymax, MR, LR1/Panamax and LR2/Aframax, all of which earn revenues in the seaborne transportation of refined petroleum products in the international shipping markets. Each vessel within its respective class qualifies as an operating segment under IFRS. However, each vessel also exhibits similar long-term financial performance and similar economic characteristics to the other vessels within the respective vessel class, thereby meeting the aggregation criteria in IFRS. We have therefore chosen to present our segment information by vessel class using the aggregated information from the individual vessels.

Segment results are evaluated based on reported income or loss from each segment. The accounting policies applied to the reportable segments are the same as those used in the preparation of our consolidated financial statements.

It is not practical to report revenue or non-current assets on a geographical basis due to the international nature of the shipping market.

Vessels under construction

As of December 31, 2017 and 2016, we had two and ten vessels under construction, respectively. Vessels under construction are measured at cost and include costs incurred that are directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. These costs include installment payments made to the shipyards, directly attributable financing costs, professional fees and other costs deemed directly attributable to the construction of the asset.

Vessels and drydock

Our fleet is measured at cost, which includes directly attributable financing costs and the cost of work undertaken to enhance the capabilities of the vessels, less accumulated depreciation and impairment losses.

Depreciation is calculated on a straight-line basis to the estimated residual value over the anticipated useful life of the vessel from date of delivery. Vessels under construction are not depreciated until such time as they are ready for use. The residual value is estimated as the lightweight tonnage of each vessel multiplied by scrap value per ton. The scrap value per ton is estimated taking into consideration the historical four-year average scrap market rates available at the balance sheet date with changes accounted for in the period of change and in future periods.

The vessels are required to undergo planned drydocks for replacement of certain components, major repairs and maintenance of other components, which cannot be carried out while the vessels are operating, approximately every 30 months or 60 months depending on the nature of work and external requirements. These drydock costs are capitalized and depreciated on a straight-line basis over the estimated period until the next drydock. In deferred drydocking, we only include direct costs that are incurred as part of the drydocking to meet regulatory requirements, or are expenditures that add economic life to the vessel, increase the vessel’s earnings capacity or improve the vessel’s efficiency. Direct costs include shipyard costs as well as the costs of placing the vessel in the shipyard. Expenditures for normal maintenance and repairs, whether incurred as part of the drydocking or not, are expensed as incurred.

For an acquired or newly built vessel, a notional drydock component is allocated from the vessel’s cost. The notional drydock cost is estimated by us, based on the expected costs related to the next drydock, which is based on experience and past history of similar vessels, and carried separately from the cost of the vessel. Subsequent drydocks are recorded at actual cost incurred. The drydock component is depreciated on a straight-line basis to the next estimated drydock. The estimated amortization period for a drydock is based on the estimated period between drydocks. When the drydock expenditure is incurred prior to the expiry of the period, the remaining balance is expensed.

Business combinations

As described above, we acquired NPTI in two separate transactions. Part of the business was acquired in June 2017 when we acquired the NPTI Acquisition Vessels, and the other part was acquired at the September Closing.

We have accounted for these transactions as business combinations using the acquisition method of accounting as set forth in IFRS 3 Business Combinations, with the Company determined as the accounting acquirer under this guidance. Accordingly, we have measured the identifiable assets acquired and the liabilities assumed at their acquisition date fair values. The consideration transferred has been measured at fair value, with the fair value of the approximately 55 million common shares issued in September 2017 based on the price of such shares on the date of acquisition. The difference between the fair value of the net assets acquired and the fair value of the consideration transferred has been recorded as a bargain purchase gain with respect to the acquisition of the four LR1 tankers in June 2017 and goodwill with respect to the acquisition of the remaining fleet in September 2017. Acquisition related costs have been expensed as incurred. This transaction is further described in Note 2.

Purchase price allocation and goodwill

As of December 31, 2017, goodwill arising from the Merger was provisional on the basis that we are still evaluating the quality and performance characteristics of the vessels acquired. Therefore, as of December 31, 2017 provisional goodwill had not been allocated to a cash generating unit. Once the purchase price allocation is finalized, goodwill arising from the Merger will be allocated to the cash generating units within each of the respective operating segments (LR2s and LR1s) and tested for impairment accordingly.

Impairment of vessels, drydock and vessels under construction

At each balance sheet date, we review the carrying amount of our vessels and drydock and vessels under construction to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the vessels and drydock and vessels under construction is estimated in order to determine the extent of the impairment loss (if any). We treat each vessel and the related drydock as a cash generating unit.

Recoverable amount is the higher of the fair value less cost to sell (determined by taking into consideration two independent broker valuations) and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of the cash generating unit is estimated to be less than its carrying amount, the carrying amount of the cash-generating unit is reduced to its recoverable amount. An impairment loss is recognized as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the cash generating unit is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the cash generating unit in the prior years. A reversal of impairment is recognized as income immediately.

Inventories

Inventories consist of lubricating oils and other items including stock provisions, and are stated at the lower of cost and net realizable value. Cost is determined using the first in first out method. Stores and spares are charged to vessel operating costs when purchased.

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time (for example, the time period necessary to construct a vessel) to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

To the extent that variable rate borrowings are used to finance a qualifying asset and are hedged in an effective cash flow hedge of interest rate risk, the effective portion of the derivative is recognized in other comprehensive income and released to income or loss when the qualifying asset impacts income or loss. To the extent that fixed rate borrowings are used to finance a qualifying asset and are hedged in an effective fair value hedge of interest rate risk, the capitalized borrowing costs reflect the hedged interest rate.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.

All other borrowing costs are recognized in the consolidated statement of income or loss in the period in which they are incurred.

Financial instruments

Financial assets and financial liabilities are recognized in our balance sheet when we become a party to the contractual provisions of the instrument.

Financial assets

All financial assets are recognized and derecognized on a trade date where the purchase or sale of a financial asset is under a contract whose terms require delivery within the timeframe established by the market concerned, and are initially measured at fair value, plus transaction costs, except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value.

Financial assets are classified into the following specified categories: financial assets "at fair value through profit or loss", or FVTPL, "available-for-sale" and "loans and receivables". The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition.

Income is recognized on an effective interest basis for debt instruments other than those financial assets classified as at FVTPL.

Financial assets at FVTPL

Financial assets are classified as at FVTPL where the financial asset is held for trading.

A financial asset is classified as held for trading if:


•	it has been acquired principally for the purpose of selling in the near future; or


•	it is a part of an identified portfolio of financial instruments that we manage together and has a recent actual pattern of short-term profit-taking; or


•	it is a derivative that is not designated and effective as a hedging instrument.

Financial assets at FVTPL are stated at fair value, with any resultant gain or loss recognized in the statement of income or loss. The net gain or loss recognized in income or loss incorporates any dividend or interest earned on the financial asset. Fair value is determined in the manner described in Note 24.

Available-for-sale financial assets

Available-for-sale financial assets are non-derivative financial assets that are designated as available-for-sale or are not classified as "loans and receivables," "held-to-maturity" or FVTPL. Available-for-sale financial assets are recognized initially at fair value. Subsequent to initial recognition, any change in fair value is recorded in other comprehensive income or loss. Any dividends received or impairment losses are recorded directly in income or loss. Upon the sale of the assets, the difference between the carrying amount and the sum of (i) the consideration received and (ii) any cumulative gain / loss that had been recognized in other comprehensive income or loss will be recognized in the statement of income or loss.

Available for sale financial assets consisted of our investment in Dorian LPG Ltd., which was sold in July 2015.

Loans and receivables

Amounts due from the Scorpio Group Pools and other receivables that have fixed or determinable payments and are not quoted in an active market are classified as accounts receivable. Accounts receivable are measured at amortized cost using the effective interest method, less any impairment. Interest income is recognized by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial.

Impairment of financial assets

Financial assets, other than those at FVTPL, are assessed for indicators of impairment at each balance sheet date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been impacted.

Objective evidence of impairment of financial assets could include:


•	significant financial difficulty of the issuer or counterparty; or


•	default or delinquency in interest or principal payments; or


•	it becomes probable that the borrower will enter bankruptcy or financial re-organization.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits, and other short-term highly-liquid investments with original maturities of three months or less, that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these instruments.

Restricted cash

During 2017, we placed deposits in debt service reserve accounts under the terms and conditions set forth under our 2017 Credit Facility. Additionally, as part of the acquisition of NPTI and the assumption of NPTI's indebtedness (as further described in Note 13), we are required to maintain debt service reserve accounts under certain of NPTI's secured credit facilities and sale leaseback arrangements. Funds held in these accounts will be released upon the maturity of such facilities and have accordingly been accounted for as non-current restricted cash on our consolidated balance sheet.

Financial liabilities

Financial liabilities are classified as either financial liabilities at FVTPL or ‘other financial liabilities’.

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL where the financial liability is held for trading, using the criteria set out above for financial assets.

Financial liabilities at FVTPL are stated at fair value, with any resultant gain or loss recognized in the statement of income or loss. The net gain or loss recognized in the statement of income or loss incorporates any interest paid on the financial liability. Fair value is determined in the manner described in Note 24.

Other financial liabilities

Other financial liabilities, including borrowings, are initially measured at fair value, net of transaction costs. Other financial liabilities are subsequently measured at amortized cost using the effective interest method.

Effective interest method

The effective interest method is a method of calculating the amortized cost of a financial asset and a financial liability. It allocates interest income and interest expense over the relevant period. The effective interest rate is the rate that discounts estimated future cash flows (including all fees on points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) over the expected life of the financial asset and financial liability, or, where appropriate, a shorter period.

Convertible debt instruments

In June 2014, we completed an offering for $360.0 million in aggregate principal amount of convertible senior notes due 2019, or the Convertible Notes, in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities’ Act of 1933 (as further described in Note 13). Under International Accounting Standard 32, or IAS 32, we must separately account for the liability and equity components of convertible debt instruments (such as the Convertible Notes) in a manner that reflects the issuer’s economic interest cost. Under this methodology, the instrument is split between its liability and equity components upon initial recognition. The fair value of the liability is measured first, by estimating the fair value of a similar liability that does not have any associated equity conversion option. This becomes the liability’s carrying amount at initial recognition, which is recorded as part of Debt on the consolidated balance sheet. The equity component (the conversion feature) is assigned the residual amount after deducting the amount separately determined for the liability component from the fair value of the instrument as a whole and is recorded as part of Additional paid-in capital within stockholders’ equity on the consolidated balance sheet. Issuance costs are allocated proportionately between the liability and equity components.

The value of the equity component is treated as an original issue discount for purposes of accounting for the liability component of the Convertible Notes. Accordingly, we are required to record non-cash interest expense as a result of the amortization of the discounted carrying value of the Convertible Notes to their face amount over the term of the Convertible Notes. IAS 32 therefore requires interest to include both the current period’s amortization of the debt discount and the instrument’s coupon interest.

Derivative financial instruments

Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each balance sheet date. A derivative with a positive fair value is recognized as a financial asset whereas a derivative with a negative fair value is recognized as a financial liability. The resulting gain or loss is recognized in income or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in income or loss depends on the nature of the hedging relationship. During the year ended December 31, 2015, we designated certain derivatives as hedges of highly probable forecast transactions (cash flow hedges) as described further below.

A derivative is presented as a non-current asset or a non-current liability if the remaining maturity of the instrument is more than 12 months, and it is not expected to be realized or settled within 12 months.

Our derivative financial instruments for the years ended December 31, 2017, 2016 and 2015 consisted of interest rate swaps and/or profit or loss sharing arrangements on time chartered-in vessels with third parties. See Note 14 for further description of these instruments.

Hedge accounting

Our policy is to designate certain hedging instruments, which can include derivatives, embedded derivatives and non-derivatives in respect of foreign currency risk, as either fair value hedges, cash flow hedges, or hedges of net investments in foreign operations. At the inception of the hedge relationship, we document the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, we document whether the hedging instrument is highly effective in offsetting changes in fair values or cash flows of the hedged item.

Derivative financial instruments are initially recognized on the balance sheet at fair value at the date the derivative contract is entered into and are subsequently measured at their fair value as derivative assets or derivative liabilities, respectively. Changes in the fair value of derivative financial instruments, which are designated as cash flow hedges and deemed to be effective, are recognized directly in other comprehensive income. Changes in fair value of a portion of a hedge deemed to be ineffective are recognized in income or loss. Hedge effectiveness is measured quarterly.

Amounts previously recognized in other comprehensive income or loss are reclassified to income or loss in the periods when the hedged item is recognized in income or loss, in the same line of the statement of income or loss as the recognized hedged item. However, when the forecast transaction that is hedged results in the recognition of a non-financial asset or a non-financial liability, the gains and losses previously accumulated in equity are transferred from equity and included in the initial measurement of the cost of the non-financial asset or non-financial liability.

Hedge accounting is discontinued when we revoke the hedging relationship, the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. Any gain or loss recognized in other comprehensive income or loss at that time is accumulated and recognized when the forecast transaction is ultimately recognized in income or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in other comprehensive income or loss is recognized immediately in the statement of income or loss.

For the year ended December 31, 2015 we were party to derivative financial instruments to manage our exposure to interest rate fluctuations on our 2011 Credit Facility and 2010 Revolving Credit Facility. The interest rate swaps relating to the 2011 Credit Facility were designated and accounted for as cash flow hedges, and the interest rate swaps relating to the 2010 Revolving Credit Facility were designated at fair value through profit or loss for the years ended December 31, 2015. The interest rate swaps under our 2010 Revolving Credit Facility were terminated in March 2015 and the interest rate swaps under our 2011 Credit Facility expired in June 2015 as further described in Note 14.

Lease Financing

During 2017, we entered into sale and leaseback transactions in which certain of our vessels were sold to a third party and then leased back to us under bareboat charter-in arrangements. In certain of these transactions, the criteria necessary to recognize a sale of these vessels were not met as the terms of these transactions were such that we never part with the risks and rewards incident to ownership of the vessel, which includes an assessment of the likelihood of the exercise of purchase options contained within the contracts. Accordingly, these transactions have been accounted for as financing arrangements, with the liability under each arrangement recorded at amortized cost using the effective interest method and the corresponding vessels recorded at cost, less accumulated depreciation, on our consolidated balance sheet. All of these arrangements are further described in Note 13.

Conversely, certain of our other sale and leaseback transactions that were entered into during 2017 met the criteria as sales and operating leasebacks as set forth under IAS 17, Leases. Accordingly, the losses on the sales of these assets were recognized when the vessels were designated as held for sale. These transactions are further described in Note 6.

Equity instruments

An equity instrument is any contract that evidences a residual interest in our assets after deducting all of its liabilities. Equity instruments issued by us are recorded at the proceeds received, net of direct issue costs.

We had 326,507,544 and 174,629,755 registered shares authorized, issued and outstanding with a par value of $0.01 per share at December 31, 2017 and December 31, 2016, respectively. These shares provide the holders with the same rights to dividends and voting rights.

Provisions

Provisions are recognized when we have a present obligation as a result of a past event, and it is probable that we will be required to settle that obligation. Provisions are measured at our best estimate of the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value where the effect is material.

Dividends

A provision for dividends payable is recognized when the dividend has been declared in accordance with the terms of the shareholder agreement.

Dividends per share presented in these consolidated financial statements are calculated by dividing the aggregate dividends declared by all of our subsidiaries by the number of our shares assuming these shares have been outstanding throughout the periods presented.

Restricted stock

The restricted stock awards granted under our equity incentive plans as described in Note 16 contain only service conditions and are classified as equity settled. Accordingly, the fair value of our restricted stock awards was calculated by multiplying the average of the high and low share price on the grant date and the number of restricted stock shares granted that are expected to vest. In accordance with IFRS 2 “Share Based Payment,” the share price at the grant date serves as a proxy for the fair value of services to be provided by the individual under the plan.

Compensation expense related to the awards is recognized ratably over the vesting period, based on our estimate of the number of awards that will eventually vest. The vesting period is the period during which an individual is required to provide service in exchange for an award and is updated at each balance sheet date to reflect any revisions in estimates of the number of awards expected to vest as a result of the effect of service vesting conditions. The impact of the revision of the original estimate, if any, is recognized in the consolidated statement of income or loss such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to equity reserves.

Critical accounting judgments and key sources of estimation uncertainty

In the application of the accounting policies, we are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The significant judgments and estimates are as follows:

Revenue recognition

Our revenue is primarily generated from time charters, spot voyages, or pools (see Note 18 for the components of our revenue generated during the years ended December 31, 2017, 2016 and 2015). Revenue recognition for time charters and pools is generally not as complex or as subjective as voyage charters (spot voyages). Time charters are for a specific period of time at a specific rate per day. For long-term time charters, revenue is recognized on a straight-line basis over the term of the charter. Pool revenues are determined by the pool managers from the total revenues and expenses of the pool and allocated to pool participants using a mechanism set out in the pool agreement.

We generated revenue from spot voyages during the year ended December 31, 2017. Within the shipping industry, prior to January 1, 2018 (as discussed below under Standards and Interpretations issued and adopted in 2018), there were two methods used to account for spot voyage revenue: (1) ratably over the estimated length of each voyage or (2) completed voyage. The recognition of voyage revenues ratably over the estimated length of each voyage was the most prevalent method of accounting for voyage revenues and the method used by us. Under each method, voyages were calculated on either a load-to-load or discharge-to-discharge basis. In applying our revenue recognition method, we believed that the discharge-to-discharge basis of calculating voyages more accurately estimated voyage results than the load-to-load basis. In the application of this policy, we did not begin recognizing revenue until (i) the amount of revenue could be measured reliably, (ii) it was probable that the economic benefits associated with the transaction would flow to the entity, (iii) the transactions stage of completion at the balance sheet date could be measured reliably and (iv) the costs incurred and the costs to complete the transaction could be measured reliably.

Vessel impairment

We evaluate the carrying amounts of our vessels and vessels under construction to determine whether there is any indication that those vessels have suffered an impairment loss. If any such indication exists, the recoverable amount of vessels is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell (determined by taking into consideration two independent broker valuations) and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. The projection of cash flows related to vessels is complex and requires us to make various estimates including future freight rates, earnings from the vessels and discount rates. All of these items have been historically volatile. As part of our process of assessing fair value less costs to sell of the vessel, we obtain vessel valuations for our operating vessels from leading, independent and internationally recognized ship brokers on an annual basis or when there is an indication that an asset or assets may be impaired. We generally do not obtain vessel valuations for vessels under construction. If an indication of impairment is identified, the need for recognizing an impairment loss is assessed by comparing the carrying amount of the vessels to the higher of the fair value less costs to sell and the value in use. Likewise, if there is an indication that an impairment loss recognized in prior periods no longer exists or may have decreased, the need for recognizing an impairment reversal is assessed by comparing the carrying amount of the vessels to the latest estimate of recoverable amount.

For the period ended December 31, 2017, we reviewed the carrying amount of our vessels to determine whether there was an indication that these assets had suffered an impairment. First, we compared the carrying amount of our vessels to their fair values less costs to sell (determined by taking into consideration two independent broker valuations). If the carrying amount of our vessels was greater than the fair values less costs to sell, we prepared a value in use calculation where we estimated the vessel’s future cash flows based on a combination of the latest, published, forecast time charter rates for the next three years, a growth rate of 2.47% in freight rates in each period thereafter (which is based off of historical and forecast inflation rates) and our best estimates of vessel operating expenses and drydock costs. These cash flows were then discounted to their present value, using a pre-tax discount rate of 8.03%.

At December 31, 2017, we had 107 vessels in our fleet and two vessels under construction. The results of our impairment test were as follows:


•	Eight of our owned or financed leased vessels in our fleet had fair values less cost to sell more than their carrying amount. As such, there were no indicators of impairment for these vessels.


•	99 of our 107 owned or finance leased vessels in our fleet had fair values less costs to sell less than their carrying amount. We prepared a value in use calculation for each of these vessels which resulted in no impairment being recognized.


•	We did not obtain independent broker valuations for our two vessels under construction. To assess their carrying values for impairment, we prepared value in use calculations which resulted in no impairment being recognized.

Vessel lives and residual value

The carrying value of each of our vessels represents its original cost at the time it was delivered or purchased less depreciation and impairment. We depreciate our vessels to their residual value on a straight-line basis over their estimated useful lives of 25 years. The estimated useful life of 25 years is management’s best estimate and is also consistent with industry practice for similar vessels. The residual value is estimated as the lightweight tonnage of each vessel multiplied by a forecast scrap value per ton. The scrap value per ton is estimated taking into consideration the historical four-year scrap market rate average at the balance sheet date.

An increase in the estimated useful life of a vessel or in its scrap value would have the effect of decreasing the annual depreciation charge and extending it into later periods. A decrease in the useful life of a vessel or scrap value would have the effect of increasing the annual depreciation charge.

When regulations place significant limitations over the ability of a vessel to trade on a worldwide basis, the vessel’s useful life is adjusted to end at the date such regulations become effective. No such regulations have been identified that would have impacted the estimated useful life of our vessels. The estimated salvage value of the vessels may not represent the fair market value at any one time since market prices of scrap values tend to fluctuate.

Deferred drydock cost

We recognize drydock costs as a separate component of each vessel’s carrying amount and amortize the drydock cost on a straight-line basis over the estimated period until the next drydock. We use judgment when estimating the period between drydocks performed, which can result in adjustments to the estimated amortization of the drydock expense. If the vessel is disposed of before the next drydock, the remaining balance of the deferred drydock is written-off and forms part of the gain or loss recognized upon disposal of vessels in the period when contracted. We expect that our vessels will be required to be drydocked approximately every 30 to 60 months for major repairs and maintenance that cannot be performed while the vessels are operating. Costs capitalized as part of the drydock include actual costs incurred at the drydock yard and parts and supplies used in making such repairs.

Adoption of new and amended IFRS and IFRIC interpretations from January 1, 2017

Standards and interpretations adopted during the period


•	Annual improvements for IFRS Standards 2014 - 2016 cycle


•	IAS 12 - Recognition of deferred tax assets for unrealized losses


•	IAS 7 - Disclosure initiative - statement of cash flows

The adoption of these standards did not have a material impact on these consolidated financial statements.

Standards and Interpretations issued and adopted in 2018

IFRS 15, Revenue from Contracts with Customers, was issued by the International Accounting Standards Board on May 28, 2014. IFRS 15 amends the existing accounting standards for revenue recognition and is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products or services are transferred to customers. IFRS 15 applies to an entity's first annual IFRS financial statements for a period beginning on or after January 1, 2018. The standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption (the “modified retrospective method”). We are applying the modified retrospective method upon the date of transition. Our revenue is primarily generated from time charters, participation in pooling arrangements and in the spot market. Of these revenue streams, revenue generated in the spot market is within the scope of IFRS 15. Revenue generated from time charters and from pooling arrangements are within the scope of IFRS 16, Leases, which is discussed further below.

For vessels operating in the spot market, we are recognizing revenue ‘over time’ as the customer (i.e. the charterer) is simultaneously receiving and consuming the benefits of the vessel. Under IFRS 15, the time period over which revenue is recognized has changed from the previous accounting standard. Prior to the commencement of IFRS 15, revenue from voyage charter agreements was recognized as voyage revenue on a pro-rata basis over the duration of the voyage on a discharge to discharge basis. In the application of this policy, we did not begin recognizing revenue until (i) the amount of revenue could be measured reliably, (ii) it was probable that the economic benefits associated with the transaction would flow to the entity, (iii) the transactions stage of completion at the balance sheet date could be measured reliably, and (iv) the costs incurred and the costs to complete the transaction could be measured reliably. However, under IFRS 15, the performance obligation has been identified as the transportation of cargo from one point to another. Therefore, in a spot market voyage under IFRS 15, revenue is recognized on a pro-rata basis commencing on the date that the cargo is loaded and concluding on the date of discharge. Moreover, costs incurred in the fulfillment of a voyage charter are deferred and amortized over the course of the charter if they (i) relate directly to such charter, (ii) generate or enhance resources to be used in meeting obligations under the charter and (iii) are expected to be recovered.

The future impact of this standard will be dependent upon the number of vessels that are operating in the spot market, on voyage charters, at the end of each period. There were two vessels operating on voyage charters as of December 31, 2017, and the application of this standard would have resulted in a $0.2 million reduction in revenue and a $0.2 million reduction in voyage expenses for the year ended December 31, 2017.

Standards and Interpretations issued yet not adopted

IFRS 16, Leases, was issued by the International Accounting Standards Board on January 13, 2016. IFRS 16 applies to an entity's first annual IFRS financial statements for a period beginning on or after January 1, 2019. IFRS 16 amends the definition of what constitutes a lease to be a contract that conveys the right to control the use of an identified asset if the lessee has both (i) the right to obtain substantially all of the economic benefits from use of the identified asset and (ii) the right to direct the use of the identified asset throughout the period of use. We have determined that our existing pool and time charter-out arrangements meet the definition of leases under IFRS 16, with the Company as lessor, on the basis that the pool or charterer manages the vessels in order to enter into transportation contracts with their customers, and thereby enjoys the economic benefits derived from such arrangements. Furthermore, the pool or charterer can direct the use of a vessel (subject to certain limitations in the pool or charter agreement) throughout the period of use.

Moreover, under IFRS 16, we are also required to identify the lease and non-lease components of revenue and account for each component in accordance with the applicable accounting standard. In time charter-out or pool arrangements, we have determined that the lease component is the vessel and the non-lease component is the technical management services provided to operate the vessel. Each component will be quantified on the basis of the relative stand-alone price of each lease component; and on the aggregate stand-alone price of the non-lease components. These components will be accounted for as follows:

•All fixed lease revenue earned under these arrangements will be recognized on a straight-line basis over the term of the lease.

•Lease revenue earned under our pool arrangements will be recognized as it is earned, since it is 100% variable.

•The non-lease component will be accounted for as services revenue under IFRS 15. This revenue will be recognized “over time” as the customer (i.e. the pool or the charterer) is simultaneously receiving and consuming the benefits of the service.

We expect that the application of the above principles will not result in a material difference to the amount of revenue recognized under our existing accounting policies for pool and time-out charter arrangements.

IFRS 16 also amends the existing accounting standards to require lessees to recognize, on a discounted basis, the rights and obligations created by the commitment to lease assets on the balance sheet, unless the term of the lease is 12 months or less. Based on our operating fleet as of December 31, 2017, the standard will result in the recognition of right-of-use assets and corresponding liabilities, on the basis of the discounted remaining future minimum lease payments, relating to our existing bareboat chartered-in vessel commitments that are currently reported as operating leases. We do not expect this standard to impact the accounting for our existing time chartered-in vessels which are scheduled to expire in the first quarter of 2019, however this standard will result in the recognition of right of use assets and corresponding liabilities for our three bareboat chartered-in vessels, which are scheduled to expire in April 2025. Furthermore, the eventual expected impact of this standard as it pertains to time or bareboat chartered-in vessels cannot be estimated as we are unable to predict what our lease commitments will be at December 31, 2018.

IFRS 9, Financial Instruments, reduces the number of categories of financial assets to three and simplifies the rules regarding hedge accounting. It also changes the requirements for the classification and measurement of financial liabilities and for derecognition. In particular, it potentially changes the accounting for the modification of fixed rate financial liabilities measured at amortized cost such that when a fixed rate financial liability measured at amortized cost is modified without resulting in derecognition, a gain or loss should be recognized in profit or loss which is calculated as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. This standard is effective for annual periods beginning on or after January 1, 2018, and we do not expect the impact of this standard to have a material impact on our financial statements.

Additionally, at the date of authorization of these consolidated financial statements, the following Standards which have not been applied in these consolidated financial statements were issued but not yet effective. We do not expect that the adoption of these standards in future periods will have a material impact on our financial statements.

•

Amendment to IFRS 2 - Share Based Payment Transactions - clarifies the standard in relation to the accounting for cash settled share based payment transactions that include a performance condition, the classification of share based payment transactions with net settlement features and the accounting for modifications of share based payment transactions from cash settled to equity settled. Effective for annual periods beginning on or after January 1, 2018.


•	IFRIC 22 - Foreign Currency Transactions and Advance Consideration - establishes the date for which to determine the exchange rate to use on the date of initial recognition of a non-monetary prepayment asset or deferred income liability. Effective for annual periods beginning on or after January 1, 2018.


•	Amendment to IAS 40 - Investment Property - Amends IAS 40 paragraph 57 to state that an entity shall transfer a property to, or from, investment property when, and only when, there is evidence of a change in use. Effective for annual periods beginning on or after January 1, 2018.


•	Amendment to IFRS 10 and IAS 28 - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture. Clarifies the recognition of gains and losses arising on the sale or contribution of assets that constitute a business and assets do not constitute a business. The effective date is pending.

Merger with Navig8 Product Tankers Inc

12 Months Ended

Dec. 31, 2017

Business Combinations1 [Abstract]

Merger with Navig8 Product Tankers Inc

Background

In May 2017, we entered into definitive agreements to acquire NPTI, including its fleet of 12 LR1 and 15 LR2 product tankers. The rationale for the Merger was that both companies operate complementary fleets of modern, fuel efficient product tankers, and the combination of both companies provided an opportunity to materially increase our size and scale so that we are better positioned to benefit from a cyclical recovery, without ordering new vessels and adding to the total supply of product tankers globally.

The key events, consideration and corresponding timeline of the Merger were as follows:


•	On May 30, 2017, we issued 50 million shares of common stock in an underwritten public offering at an offering price of $4.00 per share for net proceeds of approximately $188.7 million, after deducting underwriters' discounts and offering expenses. The completion of this offering was a condition to closing the Merger.


•	On June 14, 2017, we acquired part of NPTI’s business with the acquisition of four LR1 product tankers (the “NPTI Vessel Acquisition”) through the acquisition of entities holding those vessels and related debt for an acquisition price of $42.2 million in cash.

•

On September 1, 2017, at the September Closing, all conditions precedent were lifted and we acquired NPTI's remaining business including eight LR1 and 15 LR2 tankers. Pursuant to the Merger Agreement, one share in NPTI gave the right to receive 1.176 of our shares, and we issued a total of 54,999,990 common shares to NPTI's shareholders as Merger consideration. Insignificant transaction costs were incurred as part of this issuance.


•	We assumed NPTI's aggregate outstanding indebtedness of $907.4 million upon the closing of these transactions.

Accounting for the Merger

With the closing of these transactions, we took control of NPTI’s business. The factors that were considered in determining that we should be treated as the accounting acquirer in the Merger were the relative voting rights in the combined company, the composition of the board of directors in the combined company, the relative sizes of the Company and NPTI, and the composition of senior management of the combined company.

Our original intentions were to acquire NPTI and its entire fleet of 27 vessels. We agreed to acquire the NPTI Acquisition Vessels prior to the closing of the Merger in order to provide NPTI with additional liquidity through the closing date of the Merger. The NPTI Vessel Acquisition was negotiated on non-recourse terms that did not allow for this transaction to be rescinded or repriced in the event that the Merger did not close (if, for example, either party exercised their termination rights, as defined in the Merger Agreement, prior to the September Closing). In addition, we gained control of the four entities on June 14, 2017 and were not restricted in the use of these underlying vessels. Accordingly, we have assessed that this first transaction was a separate transaction from an accounting perspective.

As part of this assessment, we determined that the NPTI Vessel Acquisition met the criteria as a business combination under IFRS 3 given the acquisition of the underlying inputs, processes and outputs that accompanied these vessels. The key determinant in this assessment was the acquisition of the processes underlying the entities acquired as we assumed the rights and obligations under the commercial and technical management contracts for these entities. The processes underlying these agreements are summarized as follows:

Commercial management - The NPTI Acquisition Vessels operated under the commercial management of the Navig8 Group (a related party affiliate to NPTI) both prior to and subsequent to closing. This included, but was not limited to, entering into voyage arrangements with the Navig8 Group's existing customers, determining the locations where the vessels traded and the types of cargos that the vessels transported.

Technical management - In addition, the technical management contracts were also maintained subsequent to closing. The processes underlying these contracts included crewing, which includes but is not limited to ensuring that the vessel is appropriately staffed with qualified personnel, payment of crew wages and arrangement of crew travel, repairs and maintenance of the vessel procurement of supplies and spare parts, safety, quality and environmental compliance services, insurance, and meeting third party quality assurance compliance (including oil major vetting).

The assumption of these processes was the distinguishing factor between the accounting for this transaction as a separate business combination, rather than as an asset acquisition. Moreover, the fact pattern was the same for the entities acquired at the September Closing as we acquired the inputs, processes and outputs underlying those entities as well.

Accordingly, the NPTI Vessel Acquisition that closed in June 2017 and the September Closing were accounted for as two separate business combinations.

The following represents the preliminary purchase price allocation for both the NPTI Vessel Acquisition and the September Closing. The consideration transferred for the September Closing has been measured at fair value, with the fair value of the common shares issued in September 2017 based on the average of the high and low price of such shares on the date of acquisition.



In thousands of U.S. Dollars	NPTI Vessel Acquisition			September Closing
Cash and cash equivalents	$	6,180		$	15,149
Restricted cash	—			13,641
Trade receivables	3,330			16,323
Prepaid expenses and other assets	2,932			19,940
Inventories	299			1,415
Restricted cash - non-current	4,000			6,380
Vessels, net	158,500			972,750
Accounts payable and accrued expenses	(13,720		)	(2,966		)
Debt (current and non-current)	(113,856		)	(793,519		)
Redeemable Preferred Shares	—			(39,495		)
Net assets acquired and liabilities assumed	47,665			209,618
Total purchase price consideration	42,248			221,100
Provisional (bargain purchase) / goodwill	$	(5,417	)	$	11,482

The provisional bargain purchase relating to the NPTI Vessel Acquisition arose primarily as a result of increases in the market prices of secondhand LR1 vessels between the date that the negotiations took place and the closing date of the NPTI Vessel Acquisition, in addition to our bargaining power during the negotiations given NPTI's immediate need for additional liquidity.

The provisional goodwill from the September Closing is attributable to benefits that we expect to realize as a result of the increased size and scale of the combined company and the anticipated benefits that we expect to achieve given this enhanced market position.

There were no contingent liabilities assumed as part of the Merger.

Trade receivables

Trade receivables primarily represent hire receivables due from the Navig8 Pools, which are owned and operated by the Navig8 Group. The carrying value of trade receivables acquired has been assessed as their fair value as, at the acquisition date, there was no indication that these amounts will not be collectible.

Vessels, Net

Vessels have been provisionally valued at fair value after taking into consideration the average of two leading, independent and internationally recognized ship brokers. The brokers assess fair value based on each vessel's age, the shipyard where it was built, its deadweight capacity, and other factors that may influence the selling price between a willing buyer and seller. We consider these valuations to be level 2 fair value measurements. As of December 31, 2017 we considered these values as provisional on the basis that we are still evaluating the quality and performance characteristics of the vessels acquired.

Debt (current and non-current)

NPTI’s long-term debt consists of secured borrowings and obligations due under finance leases.

Secured debt - The fair value of NPTI's secured debt was measured using the income approach under IFRS 13, Fair Value Measurement, which takes into account the future cash flows that a market participant would expect to receive from holding the liability as an asset. In making this assessment, we estimated each facility's rate of return based on the margin for each facility in addition to the interest rate swap forward curve as published by a third party on the date of acquisition. This rate of return was used to assess whether, in conjunction with other terms of these arrangements (such as the leverage ratio), the economics of each arrangement were consistent with the economics that can be attained in the market by reference to recently executed transactions under similar terms and conditions. Fair value adjustments were made to those arrangements where differences were identified. We consider these valuations to be "Level 2 fair value measurements".

Obligations due under sale and leaseback financing facilities - The fair value of NPTI’s sale and leaseback financing arrangements was measured using the income approach under IFRS 13, Fair Value Measurement, which takes into account the future cash flows that a market participant would expect to receive from holding the liability as an asset. In making this assessment, the Company estimated each facility's variable interest component based on the interest rate swap forward curve as published by a third party on the date of acquisition. A rate of return was estimated based on these inputs and a terminal value based on either the purchase obligation or the final purchase option (wherever applicable). This rate of return was used to assess whether, in conjunction with other terms of these arrangements (such as the leverage ratio or the existence of a purchase obligation), the economics of each arrangement were consistent with the economics that can be attained in the market by reference to recently executed sale and leaseback arrangements that were entered into under similar terms and conditions. Fair value adjustments were made to those arrangements where differences were identified. We consider these valuations to be Level 2 fair value measurements.

Redeemable Preferred Shares and Other non-current liabilities— As of the date of the September Closing, NPTI had 3 million Series A Redeemable Preferred Shares outstanding. These shares were issued by NPTI in 2016 for gross proceeds of $30 million. According to the terms of the Redeemable Preferred Shares, upon a change of control, NPTI was required to redeem all of the Redeemable Preferred Shares at a redemption price equal to the sum of $10.00 per share plus any accrued and unpaid dividends, multiplied by a redemption premium of 1.20. The fair value of the redemption shares was determined to be $6.6 million as of the date of closing. Accordingly, the fair value of the aggregate liability was determined to be $39.5 million which reflects the redemption price of $30.0 million, accrued and unpaid dividends of $2.9 million and the redemption premium of $6.6 million. This liability was repaid upon the September Closing.

During the year ended December 31, 2017, the Company recorded $45.3 million in revenue and a net loss of $18.7 million attributable to the operations of NPTI that were acquired, which excludes the impact of general and administrative expenses as these are generally not allocated to our operating segments.

Unaudited Pro Forma Results

If the Merger had occurred on January 1, 2017, unaudited consolidated pro-forma revenue and net loss for the year ended December 31, 2017 would have been $594.5 million and $193.4 million, respectively. These amounts have been calculated using NPTI's results for the year ended December 31, 2017 and adjusting for the following:

Revenue — NPTI was party to a Pool Management Revenue Share Rights agreement with each of the pools that its vessels operated in. This agreement enabled NPTI to receive a 30% share of the net revenues derived from the commercial management of the pools in exchange for 336,963 shares of NPTI common stock. This agreement was cancelled on the date of execution of the Merger Agreement of May 23, 2017 and the shares were returned to NPTI and cancelled. Accordingly, amounts earned under this agreement of $0.1 million during the year ended December 31, 2017 were eliminated on a pro forma basis.

Depreciation — Depreciation expense has been adjusted to reflect:


•	the change in depreciation that would have occurred assuming the fair value adjustments to Vessels had applied beginning on January 1, 2017.

•

the Company's accounting policy for the depreciation of vessels and drydock whereby (i) depreciation is calculated on a straight-line basis to the estimated residual value over the anticipated useful life of the vessel from the date of delivery and (ii) for an acquired or newly built vessel, a notional drydock component is allocated from the vessel’s cost and depreciated on a straight-line basis to the next estimated drydock.

Financial expenses - Financial expenses have been adjusted to reflect:


•	Deferred financing fee amortization — unamortized deferred charges relating to NPTI’s secured debt were eliminated and reflected in the fair value assessment of the debt.


•	Interest expense - the preliminary purchase price allocates the estimated fair value of NPTI’s secured debt and obligations due under sale leaseback facilities. Accordingly, we adjusted interest expense on a pro forma basis to reflect the amortization of these fair value adjustments for the year ended December 31, 2017.

Transaction Costs

We incurred $36.1 million of transactions costs relating to the Merger, which were expensed during the year ended December 31, 2017. These costs include $16.1 million of advisory and other professional fees, $17.7 million of costs related to the early termination of NPTI’s existing service agreements and $2.3 million of other costs, which include fees incurred for a back-stop credit facility that was put in place in the event that certain of NPTI's lenders did not consent to the Merger. This facility was cancelled upon the receipt of such consents.

We settled $6.0 million of the fees incurred to terminate NPTI's existing service agreements through the issuance of warrants to the NPTI pool manager, exercisable into 1.5 million of our common shares at an exercise price of $0.01 per share, upon the delivery of the vessels acquired from NPTI to the Scorpio Group Pools. These fees relate to the termination of the applicable pooling arrangements with NPTI, and we issued two warrants to the Navig8 pool manager as consideration for the termination. The first warrant was issued in June 2017 as part of the NPTI Vessel Acquisition, and was exercisable on a pro-rata basis for an aggregate of 222,224 of our common shares. The second warrant was issued on similar terms to the first warrant on September 1, 2017 and was exercisable on a pro-rata basis for an aggregate of 1,277,776 of our common shares at an exercise price of $0.01 per share upon the delivery of each of the 23 remaining vessels to the Scorpio Group Pools. These warrants were accounted for on the date of issuance and valued based on the average of the high and low price of our common shares on such dates. All of the warrants had been exercised as of December 31, 2017.

Prepaid expenses and other assets

12 Months Ended

Dec. 31, 2017

Subclassifications of assets, liabilities and equities [abstract]

Prepaid expenses and other assets

The following is a table summarizing our prepaid expenses and other assets as of December 31, 2017 and 2016:



	As of
In thousands of U.S. dollars	December 31, 2017		December 31, 2016
SSM - prepaid vessel operating expenses	$	6,391	$	4,233
Prepaid insurance	3,429		3,206
Third party - prepaid vessel operating expenses	1,255		42
Prepaid interest	1,153		—
Other prepaid expenses	5,492		1,586
	$	17,720	$	9,067

Accounts Receivable

12 Months Ended

Dec. 31, 2017

Subclassifications of assets, liabilities and equities [abstract]

Accounts receivable

The following is a table summarizing our accounts receivable as of December 31, 2017 and 2016:



	At December 31,
In thousands of U.S. dollars	2017		2016
Scorpio MR Pool Limited	$	27,720	$	28,611
Scorpio LR2 Pool Limited	7,026		7,552
Scorpio Handymax Tanker Pool Limited	6,037		3,125
Scorpio LR1 Tanker Pool Limited	3,002		—
Scorpio Aframax Pool Limited	1,095		—
Scorpio Panamax Tanker Pool Limited	—		1,392
Receivables from the Scorpio Group Pools	44,880		40,680

Receivables from Navig8 Group Pools	14,625		—
Freight and time charter receivables	2,399		—
Insurance receivables	870		1,362
Other receivables	2,684		287
	$	65,458	$	42,329

Scorpio MR Pool Limited, Scorpio LR2 Pool Limited, Scorpio Handymax Tanker Pool Limited, Scorpio LR1 Tanker Pool Limited, Scorpio Aframax Pool Limited and Scorpio Panamax Tanker Pool Limited are related parties, as described in Note 17. Amounts due from the Scorpio Group Pools relate to income receivables and receivables for working capital contributions which are expected to be collected within one year. The amounts receivable from the Scorpio Group Pools as of December 31, 2017 and 2016 include $25.7 million and $24.1 million, respectively, of working capital contributions made on behalf of our vessels to the Scorpio Group Pools.

Receivables from Navig8 Group Pools represent amounts due from the Navig8 LR8 and Alpha8 pools for certain vessels that were acquired from NPTI which operated in such pools during the year ended December 31, 2017.

Freight and time charter receivables represent amounts collectible from customers for our vessels operating on time charter or in the spot market.

Insurance receivables primarily represent amounts collectible on our insurance policies in relation to vessel repairs.

We consider that the carrying amount of accounts receivable approximates their fair value due to the short maturity thereof. Accounts receivable are non-interest bearing. At December 31, 2017 and December 31, 2016, no material receivable balances were either past due or impaired.

Vessels

12 Months Ended

Dec. 31, 2017

Property, plant and equipment [abstract]

Vessels

Operating vessels and drydock



In thousands of U.S. dollars		Vessels			Drydock			Total
Cost
	As of January 1, 2017	$	3,126,790		$	60,089		$	3,186,879
	Additions⁽¹⁾	333,338			12,667			346,005
	Vessels acquired in merger with NPTI ⁽²⁾	1,113,618			17,632			1,131,250
	Disposal of vessels ⁽³⁾	(184,098		)	(3,750		)	(187,848		)
	Write-offs⁽⁴⁾	—			(3,750		)	(3,750		)
	As of December 31, 2017	4,389,648			82,888			4,472,536

Accumulated depreciation and impairment
	As of January 1, 2017	(246,210		)	(27,415		)	(273,625		)
	Charge for the period	(127,369		)	(14,049		)	(141,418		)
	Disposal of vessels ⁽³⁾	25,876			2,975			28,851
	Write-offs ⁽⁴⁾	—			3,750			3,750
	As of December 31, 2017	(347,703		)	(34,739		)	(382,442		)
Net book value
	As of December 31, 2017	$	4,041,945		$	48,149		$	4,090,094

Cost
	As of January 1, 2016	$	3,188,367		$	62,039		$	3,250,406
	Additions ⁽⁵⁾	105,415			1,800			107,215
	Disposal of vessels ⁽⁶⁾	(166,992		)	(3,750		)	(170,742		)
	As of December 31, 2016	3,126,790			60,089			3,186,879

Accumulated depreciation and impairment
	As of January 1, 2016	(146,063		)	(16,590		)	(162,653		)
	Charge for the period	(109,433		)	(12,028		)	(121,461		)
	Disposal of vessels ⁽⁶⁾	9,286			1,203			10,489
	As of December 31, 2016	(246,210		)	(27,415		)	(273,625		)
Net book value
	As of December 31, 2016	$	2,880,580		$	32,674		$	2,913,254


(1)	Additions in 2017 primarily relate to the deliveries of eight newbuilding vessels and corresponding calculations of notional drydock on these vessels.


(2)	Represents the fair value of the vessels acquired in the Merger with NPTI as described in Note 2.


(3)	Represents the net book value of (i) STI Sapphire and STI Emerald, which were sold during the year ended December 31, 2017 and (ii) STI Beryl, STI Le Rocher and STI Larvotto, which were sold and leased back during the year ended December 31, 2017. These transactions are further described below.


(4)	Represents the write-off of the notional drydock costs of STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx which were drydocked in 2017.


(5)	Additions in 2016 primarily relate to the deliveries of STI Grace and STI Jermyn and the corresponding calculation of notional drydock on these vessels.


(6)	Represents the net book value of STI Chelsea, STI Lexington, STI Powai, STI Olivia and STI Mythos, which were sold during the year ended December 31, 2016.

2017 Activity

We took delivery of the following newbuilding vessels during the year ended December 31, 2017 resulting in an increase of $346.0 million in Vessels from December 31, 2016:



		Month	Vessel
	Name	Delivered	Type
1	STI Selatar	February 2017	LR2
2	STI Rambla	March 2017	LR2
3	STI Galata	March 2017	MR
4	STI Bosphorus	April 2017	MR
5	STI Leblon	July 2017	MR
6	STI La Boca	July 2017	MR
7	STI San Telmo	September 2017	MR
8	STI Donald C Trauscht	October 2017	MR

Additionally, five of the Company's 2012 built MR product tankers, STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx, were drydocked in accordance with their scheduled, class required special survey during 2017. These vessels were offhire for an aggregate of 102 days and the aggregate drydock cost was $6.4 million.

2016 Activity

We took delivery of the following newbuilding vessels during the year ended December 31, 2016 resulting in an increase of $107.2 million in Vessels from December 31, 2015:

Additionally, in April 2016, we took ownership of STI Lombard, an LR2 product tanker that was previously bareboat chartered-in, and paid the remaining 90% of the purchase price, or $53.1 million, upon delivery. This bareboat charter-in agreement was accounted for as a finance lease in July 2015 and the vessel's carrying value was recorded at that date. Accordingly, the delivery of this vessel in April 2016 is not reflected as an addition in the above table. We drew down $26.5 million from our ING Credit Facility in April 2016 to partially finance this transaction.

Vessel Sales

In February 2016, we reached an agreement with an unrelated third party to sell five 2014 built MR product tankers; STI Lexington, STI Mythos, STI Chelsea, STI Olivia, and STI Powai. Two vessels were sold in March 2016, one vessel was sold in April 2016 and two vessels were sold in May 2016. The aggregate net proceeds were $158.1 million, and we recognized an aggregate loss of $2.1 million as part of these sales.

As part of the sales of STI Lexington, STI Chelsea, STI Olivia, and STI Powai, we made an aggregate repayment of $73.5 million on our K-Sure Credit Facility, and as part of the sale of STI Mythos, we repaid $17.9 million on our 2013 Credit Facility. We also wrote off an aggregate of $3.2 million of deferred financing fees as part of these repayments.

In April 2017, we executed agreements with Bank of Communications Financial Leasing Co., Ltd. (the “Buyers”) to sell and leaseback, on a bareboat basis, three 2013 built MR product tankers, STI Beryl, STI Le Rocher and STI Larvotto. The selling price was $29.0 million per vessel, and we agreed to bareboat charter-in these vessels for a period of up to eight years for $8,800 per day per vessel. Each bareboat agreement is being accounted for as an operating lease. We have the option to purchase these vessels beginning at the end of the fifth year of the agreements through the end of the eighth year of the agreements. Additionally, a deposit of $4.35 million per vessel was retained by the buyers and will either be applied to the purchase price of the vessel if a purchase option is exercised, or refunded to us at the expiration of the agreement. These sales closed in April 2017 and as a result, all amounts outstanding under our 2011 Credit Facility of $42.2 million were repaid and a $14.2 million loss on sales of vessels was recorded during the year ended December 31, 2017.

In April 2017, we executed an agreement with an unrelated third party to sell two 2013 built, MR product tankers, STI Emerald and STI Sapphire, for a sales price of $56.4 million in aggregate. The sale of STI Emerald closed in June 2017, and the sale of STI Sapphire closed in July 2017. As a result of this transaction, we recorded an aggregate loss on sale of $9.1 million. Additionally, we repaid the aggregate outstanding debt for both vessels of $27.6 million on the BNP Paribas Credit Facility in June 2017 and wrote-off $0.5 million of deferred financing fees as a result of this repayment.

Collateral agreements

Vessels with an aggregate carrying value of $4,090.1 million have been pledged as collateral under the terms of our secured debt and finance lease arrangements. This collateral, along with the respective borrowing facility (which are described in Note 13), is summarized below, by vessel as of December 31, 2017:



Credit Facility		Vessel Name
2016 Credit Facility		STI Aqua
2016 Credit Facility		STI Benicia
2016 Credit Facility		STI Dama
2016 Credit Facility		STI Meraux
2016 Credit Facility		STI Opera
2016 Credit Facility		STI Regina
2016 Credit Facility		STI San Antonio
2016 Credit Facility		STI St. Charles
2016 Credit Facility		STI Texas City
2016 Credit Facility		STI Venere
2016 Credit Facility		STI Virtus
2016 Credit Facility		STI Yorkville
2017 Credit Facility		STI Bosphorus
2017 Credit Facility		STI Donald C Trauscht
2017 Credit Facility		STI Galata
2017 Credit Facility		STI La Boca
2017 Credit Facility		STI Leblon
2017 Credit Facility		STI San Telmo
ABN AMRO / K-Sure Credit Facility		STI Precision
ABN AMRO / K-Sure Credit Facility		STI Prestige
ABN AMRO Credit Facility		STI Carnaby
ABN AMRO Credit Facility		STI Kingsway
ABN AMRO Credit Facility		STI Savile Row
ABN AMRO Credit Facility		STI Spiga
BCFL Lease Financing (LR2s)		STI Solace
BCFL Lease Financing (LR2s)		STI Solidarity
BCFL Lease Financing (LR2s)		STI Stability
BCFL Lease Financing (MRs)		STI Amber
BCFL Lease Financing (MRs)		STI Garnet
BCFL Lease Financing (MRs)		STI Onyx
BCFL Lease Financing (MRs)		STI Ruby
BCFL Lease Financing (MRs)		STI Topaz
BNP Paribas Credit Facility		STI Battery
BNP Paribas Credit Facility		STI Memphis
BNP Paribas Credit Facility		STI Soho
Citi / K-Sure Credit Facility		STI Excellence



Citi / K-Sure Credit Facility		STI Executive
Citi / K-Sure Credit Facility		STI Experience
Citi / K-Sure Credit Facility		STI Express
CMB Lease Financing		STI Pride
CMB Lease Financing		STI Providence
Credit Agricole Credit Facility		STI Exceed
Credit Agricole Credit Facility		STI Excel
Credit Agricole Credit Facility		STI Excelsior
Credit Agricole Credit Facility		STI Expedite
Credit Suisse Credit Facility		STI Rambla
Credit Suisse Credit Facility		STI Selatar
CSSC Lease Financing		STI Gallantry
CSSC Lease Financing		STI Gauntlet
CSSC Lease Financing		STI Gladiator
CSSC Lease Financing		STI Goal
CSSC Lease Financing		STI Gratitude
CSSC Lease Financing		STI Guard
CSSC Lease Financing		STI Guide
CSSC Lease Financing		STI Nautilus
DVB 2017 Credit Facility		STI Alexis
DVB 2017 Credit Facility		STI Milwaukee
DVB 2017 Credit Facility		STI Seneca
DVB 2017 Credit Facility		STI Wembley
HSH Credit Facility		STI Duchessa
ING Credit Facility		STI Black Hawk
ING Credit Facility		STI Grace
ING Credit Facility		STI Jermyn
ING Credit Facility		STI Lombard
ING Credit Facility		STI Osceola
ING Credit Facility		STI Pontiac
KEXIM Credit Facility		STI Acton
KEXIM Credit Facility		STI Brixton
KEXIM Credit Facility		STI Broadway
KEXIM Credit Facility		STI Camden
KEXIM Credit Facility		STI Clapham
KEXIM Credit Facility		STI Comandante
KEXIM Credit Facility		STI Condotti
KEXIM Credit Facility		STI Elysees
KEXIM Credit Facility		STI Finchley
KEXIM Credit Facility		STI Fulham
KEXIM Credit Facility		STI Hackney
KEXIM Credit Facility		STI Madison
KEXIM Credit Facility		STI Orchard
KEXIM Credit Facility		STI Park
KEXIM Credit Facility		STI Pimlico
KEXIM Credit Facility		STI Poplar



KEXIM Credit Facility		STI Sloane
KEXIM Credit Facility		STI Veneto
K-Sure Credit Facility		STI Battersea
K-Sure Credit Facility		STI Bronx
K-Sure Credit Facility		STI Brooklyn
K-Sure Credit Facility		STI Connaught
K-Sure Credit Facility		STI Gramercy
K-Sure Credit Facility		STI Hammersmith
K-Sure Credit Facility		STI Lauren
K-Sure Credit Facility		STI Manhattan
K-Sure Credit Facility		STI Mayfair
K-Sure Credit Facility		STI Notting Hill
K-Sure Credit Facility		STI Oxford
K-Sure Credit Facility		STI Queens
K-Sure Credit Facility		STI Rotherhithe
K-Sure Credit Facility		STI Tribeca
K-Sure Credit Facility		STI Westminster
K-Sure Credit Facility		STI Winnie
NIBC Credit Facility		STI Fontvieille
NIBC Credit Facility		STI Ville
Ocean Yield Lease Financing		STI Sanctity
Ocean Yield Lease Financing		STI Steadfast
Ocean Yield Lease Financing		STI Supreme
Ocean Yield Lease Financing		STI Symphony
Scotiabank Credit Facility		STI Rose

Vessels under construction

We did not enter into any contracts for the construction of newbuilding vessels during the years ended December 31, 2017 and 2016.

As of December 31, 2017, we had two MR newbuilding product tanker orders with HMD for an aggregate purchase price of $75.8 million, of which $52.3 million in cash has been paid as of that date, which included the final installment payment of $23.5 million for STI Esles II, which was paid in December 2017 in advance of its delivery in January 2018. Additionally, in January 2018, we made the final installment of $23.5 million for the delivery of STI Jardins.

Capitalized interest

In accordance with IAS 23 “Borrowing Costs,” applicable interest costs are capitalized during the period that vessels are under construction. For the years ended December 31, 2017 and 2016, we capitalized interest expense for the vessels under construction of $4.2 million and $6.3 million, respectively. The capitalization rate used to determine the amount of borrowing costs eligible for capitalization was 4.7% for each of the years ended December 31, 2017 and 2016. We cease capitalizing interest when the vessels reach the location and condition necessary to operate in the manner intended by management.

A rollforward of activity within vessels under construction is as follows:



In thousands of U.S. dollars
Balance as of January 1, 2016	$	132,218
Installment payments and other capitalized expenses	106,034
Capitalized interest	6,274
Transferred to operating vessels and drydock	(106,609		)
Balance as of December 31, 2016	$	137,917

Installment payments and other capitalized expenses	252,977
Capitalized interest	4,194
Transferred to operating vessels and drydock	(339,712		)
Balance as of December 31, 2017	$	55,376

Vessels Under Construction

12 Months Ended

Dec. 31, 2017

Property, plant and equipment [abstract]

Vessels under construction

Vessels

Operating vessels and drydock



In thousands of U.S. dollars		Vessels			Drydock			Total
Cost
	As of January 1, 2017	$	3,126,790		$	60,089		$	3,186,879
	Additions⁽¹⁾	333,338			12,667			346,005
	Vessels acquired in merger with NPTI ⁽²⁾	1,113,618			17,632			1,131,250
	Disposal of vessels ⁽³⁾	(184,098		)	(3,750		)	(187,848		)
	Write-offs⁽⁴⁾	—			(3,750		)	(3,750		)
	As of December 31, 2017	4,389,648			82,888			4,472,536

Accumulated depreciation and impairment
	As of January 1, 2017	(246,210		)	(27,415		)	(273,625		)
	Charge for the period	(127,369		)	(14,049		)	(141,418		)
	Disposal of vessels ⁽³⁾	25,876			2,975			28,851
	Write-offs ⁽⁴⁾	—			3,750			3,750
	As of December 31, 2017	(347,703		)	(34,739		)	(382,442		)
Net book value
	As of December 31, 2017	$	4,041,945		$	48,149		$	4,090,094

Cost
	As of January 1, 2016	$	3,188,367		$	62,039		$	3,250,406
	Additions ⁽⁵⁾	105,415			1,800			107,215
	Disposal of vessels ⁽⁶⁾	(166,992		)	(3,750		)	(170,742		)
	As of December 31, 2016	3,126,790			60,089			3,186,879

Accumulated depreciation and impairment
	As of January 1, 2016	(146,063		)	(16,590		)	(162,653		)
	Charge for the period	(109,433		)	(12,028		)	(121,461		)
	Disposal of vessels ⁽⁶⁾	9,286			1,203			10,489
	As of December 31, 2016	(246,210		)	(27,415		)	(273,625		)
Net book value
	As of December 31, 2016	$	2,880,580		$	32,674		$	2,913,254


(1)	Additions in 2017 primarily relate to the deliveries of eight newbuilding vessels and corresponding calculations of notional drydock on these vessels.


(2)	Represents the fair value of the vessels acquired in the Merger with NPTI as described in Note 2.


(3)	Represents the net book value of (i) STI Sapphire and STI Emerald, which were sold during the year ended December 31, 2017 and (ii) STI Beryl, STI Le Rocher and STI Larvotto, which were sold and leased back during the year ended December 31, 2017. These transactions are further described below.


(4)	Represents the write-off of the notional drydock costs of STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx which were drydocked in 2017.


(5)	Additions in 2016 primarily relate to the deliveries of STI Grace and STI Jermyn and the corresponding calculation of notional drydock on these vessels.


(6)	Represents the net book value of STI Chelsea, STI Lexington, STI Powai, STI Olivia and STI Mythos, which were sold during the year ended December 31, 2016.

2017 Activity

We took delivery of the following newbuilding vessels during the year ended December 31, 2017 resulting in an increase of $346.0 million in Vessels from December 31, 2016:



		Month	Vessel
	Name	Delivered	Type
1	STI Selatar	February 2017	LR2
2	STI Rambla	March 2017	LR2
3	STI Galata	March 2017	MR
4	STI Bosphorus	April 2017	MR
5	STI Leblon	July 2017	MR
6	STI La Boca	July 2017	MR
7	STI San Telmo	September 2017	MR
8	STI Donald C Trauscht	October 2017	MR

2016 Activity

We took delivery of the following newbuilding vessels during the year ended December 31, 2016 resulting in an increase of $107.2 million in Vessels from December 31, 2015:

Vessel Sales

Collateral agreements



Credit Facility		Vessel Name
2016 Credit Facility		STI Aqua
2016 Credit Facility		STI Benicia
2016 Credit Facility		STI Dama
2016 Credit Facility		STI Meraux
2016 Credit Facility		STI Opera
2016 Credit Facility		STI Regina
2016 Credit Facility		STI San Antonio
2016 Credit Facility		STI St. Charles
2016 Credit Facility		STI Texas City
2016 Credit Facility		STI Venere
2016 Credit Facility		STI Virtus
2016 Credit Facility		STI Yorkville
2017 Credit Facility		STI Bosphorus
2017 Credit Facility		STI Donald C Trauscht
2017 Credit Facility		STI Galata
2017 Credit Facility		STI La Boca
2017 Credit Facility		STI Leblon
2017 Credit Facility		STI San Telmo
ABN AMRO / K-Sure Credit Facility		STI Precision
ABN AMRO / K-Sure Credit Facility		STI Prestige
ABN AMRO Credit Facility		STI Carnaby
ABN AMRO Credit Facility		STI Kingsway
ABN AMRO Credit Facility		STI Savile Row
ABN AMRO Credit Facility		STI Spiga
BCFL Lease Financing (LR2s)		STI Solace
BCFL Lease Financing (LR2s)		STI Solidarity
BCFL Lease Financing (LR2s)		STI Stability
BCFL Lease Financing (MRs)		STI Amber
BCFL Lease Financing (MRs)		STI Garnet
BCFL Lease Financing (MRs)		STI Onyx
BCFL Lease Financing (MRs)		STI Ruby
BCFL Lease Financing (MRs)		STI Topaz
BNP Paribas Credit Facility		STI Battery
BNP Paribas Credit Facility		STI Memphis
BNP Paribas Credit Facility		STI Soho
Citi / K-Sure Credit Facility		STI Excellence



Citi / K-Sure Credit Facility		STI Executive
Citi / K-Sure Credit Facility		STI Experience
Citi / K-Sure Credit Facility		STI Express
CMB Lease Financing		STI Pride
CMB Lease Financing		STI Providence
Credit Agricole Credit Facility		STI Exceed
Credit Agricole Credit Facility		STI Excel
Credit Agricole Credit Facility		STI Excelsior
Credit Agricole Credit Facility		STI Expedite
Credit Suisse Credit Facility		STI Rambla
Credit Suisse Credit Facility		STI Selatar
CSSC Lease Financing		STI Gallantry
CSSC Lease Financing		STI Gauntlet
CSSC Lease Financing		STI Gladiator
CSSC Lease Financing		STI Goal
CSSC Lease Financing		STI Gratitude
CSSC Lease Financing		STI Guard
CSSC Lease Financing		STI Guide
CSSC Lease Financing		STI Nautilus
DVB 2017 Credit Facility		STI Alexis
DVB 2017 Credit Facility		STI Milwaukee
DVB 2017 Credit Facility		STI Seneca
DVB 2017 Credit Facility		STI Wembley
HSH Credit Facility		STI Duchessa
ING Credit Facility		STI Black Hawk
ING Credit Facility		STI Grace
ING Credit Facility		STI Jermyn
ING Credit Facility		STI Lombard
ING Credit Facility		STI Osceola
ING Credit Facility		STI Pontiac
KEXIM Credit Facility		STI Acton
KEXIM Credit Facility		STI Brixton
KEXIM Credit Facility		STI Broadway
KEXIM Credit Facility		STI Camden
KEXIM Credit Facility		STI Clapham
KEXIM Credit Facility		STI Comandante
KEXIM Credit Facility		STI Condotti
KEXIM Credit Facility		STI Elysees
KEXIM Credit Facility		STI Finchley
KEXIM Credit Facility		STI Fulham
KEXIM Credit Facility		STI Hackney
KEXIM Credit Facility		STI Madison
KEXIM Credit Facility		STI Orchard
KEXIM Credit Facility		STI Park
KEXIM Credit Facility		STI Pimlico
KEXIM Credit Facility		STI Poplar



KEXIM Credit Facility		STI Sloane
KEXIM Credit Facility		STI Veneto
K-Sure Credit Facility		STI Battersea
K-Sure Credit Facility		STI Bronx
K-Sure Credit Facility		STI Brooklyn
K-Sure Credit Facility		STI Connaught
K-Sure Credit Facility		STI Gramercy
K-Sure Credit Facility		STI Hammersmith
K-Sure Credit Facility		STI Lauren
K-Sure Credit Facility		STI Manhattan
K-Sure Credit Facility		STI Mayfair
K-Sure Credit Facility		STI Notting Hill
K-Sure Credit Facility		STI Oxford
K-Sure Credit Facility		STI Queens
K-Sure Credit Facility		STI Rotherhithe
K-Sure Credit Facility		STI Tribeca
K-Sure Credit Facility		STI Westminster
K-Sure Credit Facility		STI Winnie
NIBC Credit Facility		STI Fontvieille
NIBC Credit Facility		STI Ville
Ocean Yield Lease Financing		STI Sanctity
Ocean Yield Lease Financing		STI Steadfast
Ocean Yield Lease Financing		STI Supreme
Ocean Yield Lease Financing		STI Symphony
Scotiabank Credit Facility		STI Rose

Vessels under construction

We did not enter into any contracts for the construction of newbuilding vessels during the years ended December 31, 2017 and 2016.

Capitalized interest

A rollforward of activity within vessels under construction is as follows:



In thousands of U.S. dollars
Balance as of January 1, 2016	$	132,218
Installment payments and other capitalized expenses	106,034
Capitalized interest	6,274
Transferred to operating vessels and drydock	(106,609		)
Balance as of December 31, 2016	$	137,917

Installment payments and other capitalized expenses	252,977
Capitalized interest	4,194
Transferred to operating vessels and drydock	(339,712		)
Balance as of December 31, 2017	$	55,376

Carrying Values of Vessels, Vessels Under Construction and Goodwill

12 Months Ended

Dec. 31, 2017

Impairment Of Assets [Abstract]

Carrying values of vessels, vessels under construction and goodwill

At each balance sheet date, we review the carrying amounts of our vessels and related drydock costs to determine if there is any indication that those vessels and related drydock costs have suffered an impairment loss. If such indication exists, the recoverable amount of the vessels and related drydock costs is estimated in order to determine the extent of the impairment loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use. As part of this evaluation, we consider certain indicators of potential impairment, such as market conditions including forecast time charter rates and values for second hand product tankers, discounted projected vessel operating cash flows and the Company’s overall business plans.

At December 31, 2017, we reviewed the carrying amount of our vessels to determine whether there was an indication that these assets had suffered an impairment. First, we compared the carrying amount of our vessels to their fair values less costs to sell (determined by taking into consideration two independent broker valuations). If the carrying amount of our vessels was greater than the fair values less costs to sell, we prepared a value in use calculation where we estimated each vessel’s future cash flows. These estimates were primarily based on (i) a combination of the latest forecast, published time charter rates for the next three years and a 2.47% growth rate (which is based on published historical and forecast inflation rates) in freight rates in each period thereafter and (ii) our best estimate of vessel operating expenses and drydock costs, which are based on our most recent forecasts for the next three years and a 2.47% growth rate in each period thereafter. These cash flows were then discounted to their present value using a pre-tax discount rate of 8.03%. The results of these tests were as follows:

At December 31, 2017, we had 107 vessels in our fleet and two vessels under construction:


•	Eight of our owned or financed leased vessels in our fleet had fair values less cost to sell more than their carrying amount. As such, there were no indicators of impairment for these vessels.


•	99 of our 107 owned or finance leased vessels in our fleet had fair values less costs to sell less than their carrying amount. We prepared a value in use calculation for each of these vessels which resulted in no impairment being recognized.


•	We did not obtain independent broker valuations for our two vessels under construction. To assess their carrying values for impairment, we prepared value in use calculations for each vessel which resulted in no impairment being recognized.

At December 31, 2016, we had 77 vessels in our fleet and ten vessels under construction:


•	All of our 77 vessels in our fleet had fair values less costs to sell in excess of their carrying amount. We prepared a value in use calculation for each these vessels which resulted in no impairment being recognized.


•	We did not obtain independent broker valuations for our ten vessels under construction. To assess their carrying values for impairment, we prepared value in use calculations for each vessel which resulted in no impairment being recognized.

The impairment test that we conduct is most sensitive to variances in the discount rate and future time charter rates.


•	Based on the sensitivity analysis performed for December 31, 2017, a 1.0% increase in the discount rate would result in four MR vessels being impaired for an aggregate $2.3 million loss. Alternatively, a 5% decrease in forecasted time charter rates would result in 13 Handymax and MR vessels being impaired for an aggregate $6.9 million loss.


•	Based on the sensitivity analysis performed for December 31, 2016, a 1.0% increase in the discount rate would result in four MR vessels and six LR2 being impaired and recognized $20.2 million loss. Alternatively, a 5% decrease in forecasted time charter rates would also result in four MR vessels and six LR2 being impaired and recognized $22.4 million loss.

Other Non-Current Assets

12 Months Ended

Dec. 31, 2017

Subclassifications of assets, liabilities and equities [abstract]

Other non-current assets



	At December 31,
In thousands of U.S. dollars	2017		2016
Scorpio LR2 Tanker Pool Ltd. pool working capital contributions ⁽¹⁾	$	28,050	$	13,600
Scorpio Handymax Tanker Pool Ltd. pool working capital contributions ⁽²⁾	6,751		5,617
Scorpio LR1 Tanker Pool Ltd. pool working capital contributions⁽¹⁾	6,600		—
Working capital contributions to Scorpio Group Pools	41,401		19,217

Sellers credit on lease financed vessels ⁽³⁾	8,581		—
Capitalized loan fees⁽⁴⁾	582		2,278
Other	120		—
	$	50,684	$	21,495

(1)

Upon entrance into the Scorpio LR2 and LR1 Pools, all vessels are required to make initial working capital contributions of both cash and bunkers. Initial working capital contributions are repaid, without interest, upon a vessel’s exit from the pool. Bunkers on board a vessel exiting the pool are credited against such repayment at the actual invoice price of the bunkers. For all owned vessels, we assume that these contributions will not be repaid within 12 months and are thus classified as non-current within other assets on the consolidated balance sheets. For time chartered-in vessels we classify the amounts as current (within accounts receivable) or non-current (within other assets) according to the expiration of the contract.

(2)

Upon entrance into the Scorpio Handymax Tanker Pool, all vessels are required to make initial working capital contributions of both cash and bunkers. Initial working capital contributions are repaid, without interest, upon a vessel's exit from each pool no later than six months after the exit date. Bunkers on board a vessel exiting the pool are credited against such repayment at the actual invoice price of the bunkers. For all owned vessels, we assume that these contributions will not be repaid within 12 months and are thus classified as non-current within other assets on the consolidated balance sheets. For time chartered-in vessels we classify the amounts as current (within accounts receivable) or non-current (within other assets) according to the expiration of the contract.

(3)

The sellers credit on lease financed vessels represents the present value of the deposits of $4.35 million per vessel ($13.1 million in aggregate) that was retained by the buyer as part of the sale and operating leasebacks of STI Beryl, STI Le Rocher and STI Larvotto, which is described in Note 6. This deposit will either be applied to the purchase price of the vessel if a purchase option is exercised, or refunded to us at the expiration of the agreement. The present value of this deposit has been calculated based on the interest rate that is implied in the lease, and the carrying value will accrete over the life of the lease, through interest income, until expiration.


(4)	Primarily represents upfront loan fees on our credit facilities that are expected to be used to finance newbuilding vessels. These are reclassified to Debt when the tranche of the loan to which the vessel relates is drawn.

Restricted Cash	12 Months Ended
Restricted Cash	Dec. 31, 2017
Subclassifications of assets, liabilities and equities [abstract]
Restricted Cash	Restricted Cash Restricted cash for the year ended December 31, 2017 primarily represents debt service reserve accounts that must be maintained as part of the terms and conditions of our 2017 Credit Facility, Citibank/K-Sure Credit Facility, ABN AMRO/K-Sure Credit Facility, and the lease financing arrangements with CMB Financial Leasing Co. Ltd and Bank of Communications Financial Leasing (LR2s). The funds in these accounts will be applied against the principal balance of these facilities upon maturity. These facilities are further described in Note 13.

Accounts Payable

12 Months Ended

Dec. 31, 2017

Subclassifications of assets, liabilities and equities [abstract]

Accounts payable

The following table depicts the components of our accounts payable as of December 31, 2017 and 2016:



	At December 31,
In thousands of U.S. dollars	2017		2016
Scorpio Ship Management S.A.M. (SSM)	$	766	$	653
Scorpio LR2 Pool Limited	365		15
Scorpio Services Holding Limited (SSH)	190		90
Scorpio Commercial Management S.A.M. (SCM)	186		—
Scorpio Aframax Tanker Pool Limited	74		—
Scorpio LR1 Pool Limited	22		—
	1,603		758

Suppliers	11,441		8,524
	$	13,044	$	9,282

The majority of accounts payable are settled with a cash payment within 90 days. No interest is charged on accounts payable. We consider that the carrying amount of accounts payable approximates fair value.

Accrued Expenses

12 Months Ended

Dec. 31, 2017

Subclassifications of assets, liabilities and equities [abstract]

Accrued expenses

The following table depicts the components of our accrued expenses as of December 31, 2017 and 2016:



	At December 31,
In thousands of U.S. dollars	2017		2016
Scorpio Commercial Management S.A.M. (SCM)	$	5	$	53
	5		53

Suppliers	16,594		5,745
Accrued interest	13,078		11,216
Accrued short-term employee benefits	2,325		5,487
Accrued transaction costs relating to the Merger	34		—
Other accrued expenses	802		523
	$	32,838	$	23,024

Current and Long-Term Debt

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Current and long-term debt

The following is a breakdown of the current and non-current portion of our debt outstanding as of December 31, 2017 and December 31, 2016:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Current portion ⁽¹⁾	$	113,036	$	353,012
Finance lease ⁽²⁾	50,146		—
Current portion of long-term debt	163,182		353,012

Non-current portion ⁽³⁾	1,937,018		1,529,669
Finance lease ⁽⁴⁾	666,993		—
	$	2,767,193	$	1,882,681


(1)	The current portion at December 31, 2017 was net of unamortized deferred financing fees of $1.7 million. The current portion at December 31, 2016 was net of unamortized deferred financing fees of $4.3 million.


(2)	The current portion at December 31, 2017 was net of unamortized deferred financing fees of $0.1 million.


(3)	The non-current portion at December 31, 2017 was net of unamortized deferred financing fees of $33.4 million. The non-current portion at December 31, 2016 was net of unamortized deferred financing fees of $33.1 million.


(4)	The non-current portion at December 31, 2017 was net of unamortized deferred financing fees of $1.1 million.

The following is a table summarizing the carrying value our current debt, non-current debt and available debt, by facility, as of December 31, 2017. The vessels collateralized under each facility as of December 31, 2017 are listed in Note 6. Interest accrued on our outstanding indebtedness has been recorded within accrued expenses on our consolidated balance sheets.



	As of December 31, 2017
In thousands of U.S. dollars	Current			Non-Current			Total outstanding			Available
K-Sure Credit Facility	$	2,757		$	237,162		$	239,919		$	—
KEXIM Credit Facility	33,650			299,300			332,950			—
Credit Suisse Credit Facility	1,945			51,543			53,488			—
ABN AMRO Credit Facility	8,887			104,425			113,312			—
ING Credit Facility	3,388			106,456			109,844			—
BNP Paribas Credit Facility	3,450			39,100			42,550			—
Scotiabank Credit Facility	1,110			27,750			28,860			—
NIBC Credit Facility	2,849			31,863			34,712			—
2016 Credit Facility	20,376			175,603			195,979			—
2017 Credit Facility	11,561			130,253			141,814			21,450		⁽¹⁾
HSH Credit Facility	1,592			13,824			15,416			—
DVB 2017 Credit Facility	5,920			72,520			78,440			—
Credit Agricole Credit Facility	7,703			96,211			103,914			—
ABN / K-Sure Credit Facility	3,076			46,832			49,908			—
Citi / K-Sure Credit Facility	6,443			97,609			104,052			—
Ocean Yield Lease Financing	10,263			158,753			169,016			—
CMBFL Lease Financing	4,717			61,198			65,915			—
BCFL Lease Financing (LR2s)	6,742			97,445			104,187			—
CSSC Lease Financing	18,134			251,831			269,965			—
BCFL Lease Financing (MRs)	10,401			98,831			109,232			—
Senior Notes Due 2020	—			53,750			53,750			—
Senior Notes Due 2019	—			57,500			57,500			—
Convertible Notes	—			328,717			328,717			—
	164,964			2,638,476			2,803,440			21,450
Less: deferred financing fees	(1,782		)	(34,465		)	(36,247		)	—
	$	163,182		$	2,604,011		$	2,767,193		$	21,450


(1)	Availability can be used to finance the lesser of 60% of the contract price and 60% of the fair market value of the vessel that was collateralized under this facility in January 2018, STI Jardins. This amount was drawn when this vessel was delivered in January 2018.

The following is a rollforward of the activity within debt (current and non-current), by facility, for the year ended December 31, 2017:



			Activity
In thousands of U.S. dollars	Outstanding balance as of December 31, 2016		Drawdowns		Debt assumed from NPTI ⁽¹⁾		Repayments			Other Activity⁽²⁾				Outstanding balance as of December 31, 2017
2011 Credit Facility	$	93,041	$	—	$	—	$	(93,041	)	$	—			$	—
K-Sure Credit Facility	314,032		—		—		(74,113		)	—				239,919
KEXIM Credit Facility	366,600		—		—		(33,650		)	—				332,950
Credit Suisse Credit Facility	—		58,350		—		(4,862		)	—				53,488
ABN AMRO Credit Facility	126,350		—		—		(13,038		)	—				113,312
ING Credit Facility	124,290		—		—		(14,446		)	—				109,844
BNP Paribas Credit Facility	32,200		40,825		—		(30,475		)	—				42,550
Scotiabank Credit Facility	32,190		—		—		(3,330		)	—				28,860
NIBC Credit Facility	39,817		—		—		(5,105		)	—				34,712
2016 Credit Facility	281,184		—		—		(85,205		)	—				195,979
DVB 2016 Credit Facility	88,375		—		—		(88,375		)	—				—
2017 Credit Facility	—		145,500		—		(3,686		)	—				141,814
HSH Credit Facility	—		31,125		—		(15,709		)	—				15,416
DVB 2017 Credit Facility	—		81,400		—		(2,960		)	—				78,440
Credit Agricole Credit Facility	—		—		113,856		(4,284		)	(5,658		)	⁽³⁾	103,914
ABN / K-Sure Credit Facility	—		—		51,568		(1,926		)	266				49,908
Citi / K-Sure Credit Facility	—		—		107,584		(4,208		)	676				104,052
Ocean Yield Lease Financing	—		—		172,406		(3,459		)	69				169,016
CMBFL Lease Financing	—		—		68,304		(2,454		)	65				65,915
BCFL Lease Financing (LR2s)	—		—		106,423		(2,439		)	203				104,187
CSSC Lease Financing	—		—		287,234		(6,071		)	(11,198		)	⁽⁴⁾	269,965
BCFL Lease Financing (MRs)	—		110,942		—		(1,710		)	—				109,232
Unsecured Senior Notes Due 2020	53,750		—		—		—			—				53,750
Unsecured Senior Notes Due 2017	51,750		—		—		(51,750		)	—				—
Unsecured Senior Notes Due 2019	—		57,500		—		—			—				57,500
Convertible Notes	316,507		—		—		—			12,210				328,717
	$	1,920,086	$	525,642	$	907,375	$	(546,296	)	$	(3,367	)		$	2,803,440

⁽¹⁾These amounts represent the opening balance sheet fair value of the indebtedness assumed from NPTI.

⁽²⁾ Relates to non-cash accretion or amortization of (i) obligations assumed as part of the Merger with NPTI, which were recorded at fair value on the closing date (described below) and (ii) accretion of our Convertible Notes of $12.2 million.

⁽³⁾ Includes the release of $6.1 million held in retention and debt service reserve accounts on the closing date of the NPTI Vessel Acquisition. The proceeds from these releases were used to repay the outstanding indebtedness under this facility at that date.

⁽⁴⁾ Includes the release of $10.9 million held in a restricted cash account in September 2017, which was assumed at the September Closing. This amount was held as restricted cash upon the September Closing and subsequently utilized to repay the outstanding indebtedness under this arrangement in order to maintain compliance with this facility's security coverage ratio (which is described further below).

Debt assumed from NPTI

The following table depicts the indebtedness assumed as part of the NPTI Vessel Acquisition and Merger. The terms and conditions of each of these facilities are described below.



In thousands of U.S. dollars	Balance assumed from NPTI ⁽¹⁾		Fair value adjustments ⁽²⁾			Opening balance sheet fair value		Scheduled repayments			Other repayments				Accretion / (amortization) of fair value adjustments ⁽³⁾			Carrying Value at December 31, 2017
Credit Agricole Credit Facility	$	118,289	$	(4,433	)	$	113,856	$	(4,284	)	$	(6,142	)	⁽⁴⁾	$	484		$	103,914
ABN AMRO/K-Sure Credit Facility	55,307		(3,739		)	51,568		(1,926		)	—				266			49,908
Citi/K-Sure Credit Facility	116,274		(8,690		)	107,584		(4,208		)	—				676			104,052
Ocean Yield Lease Financing	174,180		(1,774		)	172,406		(3,459		)	—				69			169,016
CMBFL Lease Financing	69,333		(1,029		)	68,304		(2,454		)	—				65			65,915
BCFL Lease Financing (LR2s)	110,559		(4,136		)	106,423		(2,439		)	—				203			104,187
CSSC Lease Financing	280,819		6,415			287,234		(6,071		)	(10,913		)	⁽⁵⁾	(285		)	269,965
	$	924,761	$	(17,386	)	$	907,375	$	(24,841	)	$	(17,055	)		$	1,478		$	866,957

⁽¹⁾ These amounts represent the carrying value of NPTI's borrowings as of the closing date of (i) the NPTI Vessel Acquisition on June 14, 2017 (which relates to the Credit Agricole Credit Facility) and (ii) the September Closing on September 1, 2017 (which relates to all other facilities).

⁽²⁾ The carrying value of NPTI's borrowings was adjusted to fair value as part of the purchase price allocation, which is described in Note 2. These figures represent the fair value adjustments for each facility or financing arrangement as of the closing dates of the NPTI Vessel Acquisition and the September Closing.

⁽³⁾ These amounts represent the accretion or amortization of the fair value adjustments relating to the indebtedness assumed from NPTI that have been recorded since the closing dates of the NPTI Vessel Acquisition and the September Closing.

⁽⁴⁾ Represents the release of $6.1 million held in retention and debt service reserve accounts on the closing date of the NPTI Vessel Acquisition. The proceeds from these releases were used to repay the outstanding indebtedness under this facility at that date.

⁽⁵⁾ Represents the release of $10.9 million held in a restricted cash account in September 2017, which was assumed at the September Closing. This amount was held as restricted cash upon the September Closing and subsequently utilized to repay the outstanding indebtedness under this arrangement in order to maintain compliance with the security coverage ratio (which is described further below).

Secured Debt

Each of our secured credit facilities contains financial and restrictive covenants, which require us to, among other things, comply with certain financial tests (described below); deliver quarterly and annual financial statements and annual projections, and restrictive covenants, including maintain adequate insurances; comply with laws (including environmental laws and ERISA); and maintain flag and class of our vessels. Other such covenants may, among other things, restrict consolidations, mergers or sales of our assets; require us to obtain lender approval on changes in our vessel manager; limit our ability to place liens on our assets; limit our ability to incur additional indebtedness; prohibit us from paying dividends if there is a covenant breach under the loan or an event of default has occurred or would occur as a result of payment of such dividend; prohibit our transactions with affiliates. Furthermore, our debt agreements contain cross-default provisions that may be triggered if we default under the terms of any one of our financing agreements.

These secured credit facilities may be secured by, among other things:


•	a first priority mortgage over the relevant collateralized vessels;


•	a first priority assignment of earnings, insurances and charters from the mortgaged vessels for the specific facility;


•	a pledge of earnings generated by the mortgaged vessels for the specific facility; and


•	a pledge of the equity interests of each vessel owning subsidiary under the specific facility.

Minimum interest coverage ratio amendment

In July and August 2017, we amended the ratio of EBITDA to net interest expense ratio financial covenant on our secured credit facilities (wherever applicable) for the quarters ended June 30, 2017, September 30, 2017, December 31, 2017 and March 31, 2018. Under this amendment, the ratio was reduced to greater than 1.50 to 1.00 from 2.50 to 1.00. In February and March 2018, the amendment was further extended until December 31, 2018. Prepayments under certain facilities were made as part of these amendments, which are described below. These amendments have been accounted for as debt modifications.

Each of our secured credit facilities are described below.

2011 Credit Facility

On May 3, 2011, we executed a credit facility with Nordea Bank Finland plc, acting through its New York branch, DNB Bank ASA, acting through its New York branch, and ABN AMRO Bank N.V., for a senior secured term loan facility of up to $150.0 million. During the year ended December 31, 2017, we repaid the outstanding balance of $93.0 million, consisting of:


•	$42.2 million repaid in connection with the sale and leaseback of STI Beryl, STI Le Rocher and STI Larvotto;


•	$26.3 million repaid as a result of the refinancing of the amounts due for STI Sapphire and STI Emerald;


•	$23.7 million repaid as a result of the refinancing of the amounts due for STI Duchessa and STI Onyx; and


•	$0.8 million in scheduled repayments.

We wrote off an aggregate of $0.1 million of deferred financing fees as a result of these transactions.

K-Sure Credit Facility

In February 2014, we entered into a $458.3 million senior secured term loan facility which consists of a $358.3 million tranche with a group of financial institutions that is being 95% covered by Korea Trade Insurance Corporation, or the K-Sure Tranche, and a $100.0 million commercial tranche with a group of financial institutions led by DNB Bank ASA, or the Commercial Tranche. We refer to this credit facility as our K-Sure Credit Facility.

Drawdowns under the K-Sure Credit Facility occurred in connection with the delivery of certain of our newbuilding vessels as specified in the agreement.

Repayments will be made in equal consecutive six month repayment installments in accordance with a 15 year repayment profile under the Commercial Tranche and a 12 year repayment profile under the K-Sure Tranche. Repayments commenced in July 2015 for the K-Sure Tranche and September 2015 for the Commercial Tranche. The Commercial Tranche matures in July 2021, and the K-Sure Tranche matures in January 2027 assuming the Commercial Tranche is refinanced through that date.

Borrowings under the K-Sure tranche bear interest at LIBOR plus an applicable margin of 2.25%. Borrowings under the Commercial Tranche bear interest at LIBOR plus an applicable margin of 3.25% from the effective date of the agreement to the fifth anniversary thereof and 3.75% thereafter until the maturity date in respect of the Commercial Tranche.

Our K-Sure Credit Facility contains certain financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, equal to or greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel plus $250,000 per each time chartered-in vessel.


•	The minimum threshold for the aggregate fair market value of the vessels as a percentage of the then aggregate principal amount of the facility shall at all times be no less than the following:



From	To	Minimum ratio
01-Jan-16	31-Dec-16	165	%
01-Jan-17	31-Dec-17	160	%
01-Jan-18	31-Dec-18	155	%
01-Jan-19	31-Dec-19	150	%
01-Jan-20	Thereafter	145	%

During the year ended December 31, 2017, we made scheduled principal payments of $30.6 million on the K-Sure Credit Facility. Additionally, we made a payment of $13.4 million as part of the refinancing of STI Soho and an unscheduled repayment of $30.2 million as a result of the August 2017 amendment to the ratio of EBITDA to net interest expense financial covenant as described above. We wrote off an aggregate of $0.5 million of deferred financing fees as a result of the refinancing of STI Soho.

The amounts outstanding relating to this facility as of December 31, 2017 and 2016 were $239.9 million and $314.0 million, respectively. We were in compliance with the financial covenants relating to this facility as of those dates.

KEXIM Credit Facility

In February 2014, we executed a senior secured term loan facility for $429.6 million, or the KEXIM Credit Facility, with a group of financial institutions led by DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) and from the Export-Import Bank of Korea, or KEXIM, a statutory juridical entity established under The Export-Import Bank of Korea Act of 1969, as amended, in the Republic of Korea. This KEXIM Credit Facility includes commitments from KEXIM of $300.6 million, or the KEXIM Tranche, and a group of financial institutions led by DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) of $129.0 million, or the Commercial Tranche.

Drawdowns under the KEXIM Credit Facility occurred in connection with the delivery of 18 newbuilding vessels as specified in the loan agreement.

In addition to KEXIM’s commitment of up to $300.6 million, KEXIM also provided an optional guarantee for a five-year amortizing note of $125.25 million, the proceeds of which reduced the $300.6 million KEXIM Tranche. These notes were issued on July 18, 2014 when Seven and Seven Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands completed an offering of $125,250,000 in aggregate principal amount of floating rate guaranteed notes due 2019, or the KEXIM Notes, in a private offering to qualified institutional buyers pursuant to the Securities Act and in offshore transactions complying with Regulation S under the Securities Act. The KEXIM Notes were issued in connection with the KEXIM Tranche and reduced KEXIM's funding obligations and our borrowing costs under the KEXIM Tranche by 1.55% per year. Seven and Seven Ltd. is an unaffiliated company that was incorporated for the purpose of facilitating this transaction and servicing the bonds until maturity.

Payment of 100% of all regularly scheduled installments of principal of, and interest on, the KEXIM Notes are guaranteed by KEXIM. The vessels in the loan are the collateral for the KEXIM Credit Facility, which includes the KEXIM Notes. The KEXIM Notes are currently listed on the Singapore Exchange Securities Trading Limited. The KEXIM Notes are not listed on any other securities exchange, listing authority or quotation system.

The Commercial Tranche matures on the sixth anniversary of the delivery date of the last vessel specified under the loan (January 2021), and the KEXIM Tranche matures on the 12th anniversary of the weighted average delivery date of the vessels specified under the loan assuming the Commercial Tranche is refinanced through that date (September 2026).

Repayments will be made in ten equal consecutive semi-annual repayment installments in accordance with a 15-year repayment profile under the Commercial Tranche and a 12-year repayment profile under the KEXIM Tranche (which includes the KEXIM Notes). Repayments under the KEXIM Tranche will first be applied to the KEXIM Notes until the maturity of those notes in September 2019 and all subsequent repayments will be applied to the remaining amounts outstanding under KEXIM Tranche until the maturity of that tranche in September 2026 (assuming the Commercial Tranche is refinanced through that date). Repayments commenced in March 2015 for the KEXIM Tranche and in July 2015 for the Commercial Tranche.

Borrowings under the KEXIM Tranche bear interest at LIBOR plus an applicable margin of 3.25%. Borrowings under the Commercial Tranche bear interest at LIBOR plus an applicable margin of 3.25% from the effective date of the agreement to the fifth anniversary thereof and 3.75% thereafter until the maturity date in respect of the Commercial Tranche.

Our KEXIM Credit Facility contains certain financial covenants which require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of any new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, of greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel plus $250,000 per each time chartered-in vessel.


•	The minimum threshold for the aggregate fair market value of the vessels as a percentage of the then aggregate principal amount in the facility shall at all times be no less than the following:



From	To	Minimum ratio
01-Jan-16	31-Dec-16	165	%
01-Jan-17	31-Dec-17	160	%
01-Jan-18	31-Dec-18	155	%
01-Jan-19	31-Dec-19	150	%
01-Jan-20	Thereafter	145	%

The amounts outstanding relating to this facility (which includes the KEXIM Notes) as of December 31, 2017 and 2016 were $333.0 million and $366.6 million, respectively. We were in compliance with the financial covenants relating to this facility as of those dates.

Credit Suisse Credit Facility

In October 2015, we executed a senior secured term loan facility with Credit Suisse AG, Switzerland. The proceeds of this facility of $58.4 million were used to finance a portion of the purchase price of STI Selatar and STI Rambla. These vessels are owned individually by certain of our subsidiaries, who together are the borrowers under this credit facility, and Scorpio Tankers Inc. is the guarantor. We refer to this facility as our Credit Suisse Credit Facility.

We made the following drawdowns from our Credit Suisse Credit Facility during the year ended December 31, 2017:

Repayments will be made in accordance with a 15 year repayment profile and commenced three calendar months after the drawdown date in respect of each tranche with subsequent installments falling due at consecutive intervals of three calendar months thereafter. A balloon payment is due on the maturity date of five years from the date of delivery of each vessel.

The facility will bear interest at LIBOR plus a margin of 2.40% per annum.

Our Credit Suisse Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $677.3 million plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after October 1, 2013 and (ii) 50% of the net proceeds of new equity issues occurring on or after October 1, 2013.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, equal to or greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 135% of the then aggregate outstanding principal amount of the loans under the credit facility.

In July 2017, we made a $3.9 million unscheduled aggregate prepayment of principal on this facility as part of the aforementioned amendment to the ratio of EBITDA to net interest expense. This prepayment amount applies to all installments due for 12 months following the prepayment date. Accordingly, quarterly repayments will resume under this facility in August 2018.

The amount outstanding relating to this facility as of December 31, 2017 was $53.5 million and there were no amounts borrowed as of December 31, 2016. We were in compliance with the financial covenants relating to this facility as of those dates.

ABN AMRO Credit Facility

In July 2015, we executed a senior secured term loan facility with ABN AMRO Bank N.V. and DVB Bank SE for up to $142.2 million. This facility was fully drawn in 2015 to partially finance the purchases of STI Savile Row, STI Kingsway and STI Carnaby and to refinance the existing indebtedness on STI Spiga. We refer to this credit facility as our ABN AMRO Credit Facility.

Repayments under the ABN AMRO Credit Facility will be made in equal consecutive quarterly repayment installments in accordance with a 15 year repayment profile. Repayments commenced three months after the drawdown date of each vessel. Each tranche matures on the fifth anniversary of the initial drawdown date and a balloon installment payment is due on the maturity date of each tranche. Borrowings under the ABN AMRO Credit Facility bear interest at LIBOR plus an applicable margin of 2.15%.

Our ABN AMRO Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $677.3 million plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after October 1, 2013 and (ii) 50% of the net proceeds of new equity issues occurring on or after October 1, 2013.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, of greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 140% of the then aggregate outstanding principal amount of the loans under the credit facility.

During the year ended December 31, 2017, we made scheduled principal payments of $9.0 million and an unscheduled prepayment of $4.0 million on this credit facility. The amounts outstanding relating to this facility as of December 31, 2017 and 2016 were $113.3 million and $126.4 million, respectively. We were in compliance with the financial covenants relating to this facility as of those dates.

ING Credit Facility

In June 2015, we executed a senior secured term loan facility with ING Bank N.V., London Branch for a credit facility of up to $52.0 million. In September 2015, we amended and restated the facility to increase the borrowing capacity to $87.0 million, and in March 2016, we amended and restated the facility to further increase the borrowing capacity to $132.5 million.

Repayments on all borrowings will be made in equal consecutive quarterly installments, in accordance with a 15-year repayment profile with the first installment falling due three calendar months after the drawdown date and a balloon installment payment, which is due on the maturity dates of March 4, 2021 for STI Lombard and STI Osceola and June 24, 2022 for STI Grace, STI Jermyn, STI Black Hawk and STI Pontiac.

Borrowings under the ING Credit Facility bear interest at LIBOR plus a margin of 1.95% per annum.

Our ING Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization not more than 0.60 to 1.00.


•	Consolidated tangible net worth of not less than $1.0 billion plus (i) 25% of the positive consolidated net income for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, equal to or greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel plus $250,000 per each time chartered-in vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than the following percentage of the then aggregate outstanding principal amount of the loans under the credit facility.



From	To	Minimum ratio
29-Feb-16	31-Mar-19	155	%
1-Apr-19	31-Mar-20	150	%
1-Apr-20	Thereafter	145	%

In August 2017, we made a $8.9 million unscheduled aggregate prepayment of principal on this facility as part of the aforementioned amendment to the ratio of EBITDA to net interest expense. This prepayment amount applies to all installments due for 12 months following the prepayment date. Accordingly, quarterly repayments will resume under this facility in September 2018.

The amounts outstanding relating to this facility as of December 31, 2017 and 2016 were $109.8 million and $124.3 million, respectively. We were in compliance with the financial covenants relating to this facility as of those dates.

BNP Paribas Credit Facility

In December 2015, we executed a senior secured term loan facility with BNP Paribas SA for up to $34.5 million, and in December 2016, we amended and restated the facility to increase the borrowing capacity by a further $27.6 million to $62.1 million. This upsized portion was drawn in January and February 2017 as part of the refinancing of the amounts borrowed for STI Sapphire and STI Emerald and fully repaid in June 2017 when these vessels were sold. Furthermore, in December 2017 we amended and restated the facility to increase the borrowing capacity by a further $13.2 million as part of the refinancing of the amounts borrowed for STI Soho (which was previously financed under our K-Sure Credit Facility). We refer to this facility as our BNP Paribas Credit Facility.

Repayments on all borrowings will be made in equal consecutive semi-annual installments of $1.7 million in aggregate with installments falling due in June and December of each year until maturity. A final balloon payment of $30.5 million is due on the maturity date of December 15, 2021. The original facility of $34.5 million bears interest at LIBOR plus a margin of 1.95% per annum, and the upsized portion of $13.2 million bears interest at LIBOR plus a margin of 2.30% per annum.

Our BNP Paribas Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $677.3 million plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after October 1, 2013 and (ii) 50% of the net proceeds of new equity issues occurring on or after October 1, 2013.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, equal to or greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 140% of the then aggregate outstanding principal amount of the loans under the credit facility.

During the year ended December 31, 2017, we made scheduled principal payments of $2.9 million on our BNP Paribas Credit Facility. Additionally, we made aggregate payments of $27.6 million as part of the sales of STI Sapphire and STI Emerald. We wrote off an aggregate of $0.5 million of deferred financing fees as a result of the sales.

The amounts outstanding relating to this facility as of December 31, 2017 and 2016 were $42.6 million and $32.2 million, respectively. We were in compliance with the financial covenants relating to this facility as of those dates.

Scotiabank Credit Facility

In June 2016, we executed a senior secured term loan facility with Scotiabank Europe plc. The loan facility was fully drawn in June 2016, and the proceeds of $33.3 million were used to refinance the existing indebtedness on STI Rose, which was previously financed under our senior secured revolving credit facility and term loan facility with Nordea Bank Finland plc and the other lenders named therein of up to $525.0 million, dated July 2, 2013, or the 2013 Credit Facility. We refer to this facility as our Scotiabank Credit Facility.

Repayments on all borrowings are being made in 12 equal consecutive quarterly installments of $0.6 million each. A final balloon payment is due on the maturity date of June 7, 2019. The facility bears interest at LIBOR plus a margin of 1.50% per annum.

Our Scotiabank Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, of greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel.


•	The aggregate of the fair market value of the vessel provided as collateral under the facility shall at all times be no less than 125% of the then aggregate outstanding principal amount of the loan under the credit facility.

In August 2017, we made a $2.2 million unscheduled aggregate prepayment of principal on this facility as part of the aforementioned amendment to the ratio of EBITDA to net interest expense. This prepayment amount applies to all installments due for 12 months following the prepayment date. Accordingly, quarterly repayments will resume under this facility in September 2018.

The amounts outstanding relating to this facility as of December 31, 2017 and 2016 were $28.9 million and $32.2 million, respectively. We were in compliance with the financial covenants relating to this facility as of those dates.

NIBC Credit Facility

In June 2016, we executed a senior secured term loan facility with NIBC Bank N.V. This facility was fully drawn in July 2016, and the aggregate proceeds of $40.8 million were used to refinance the existing indebtedness on STI Ville and STI Fontvieille, which were previously financed under our 2013 Credit Facility. We refer to this facility as our NIBC Credit Facility.

The facility is separated into two tranches (one per vessel), and the repayment of the tranche relating to the respective vessel will commence three calendar months after the respective drawdown date. Repayments will be made in equal, consecutive quarterly installments of $0.5 million per tranche through July 2018 and $0.4 million per tranche for each quarter thereafter with a final balloon payment due at the maturity date of June 2021. The facility bears interest at LIBOR plus a margin of 2.50% per annum.

Our NIBC Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, of greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel plus $250,000 per each time chartered-in vessel.


•	The aggregate of the fair market value of the vessels provided as collateral under the facility shall be: 130% from the first drawdown date and ending on the second anniversary of the first drawdown date; 135% from the second anniversary of the first drawdown date and expiring on the fourth anniversary of the first drawdown date; and 140% at all times thereafter.

In August 2017, we made a $2.0 million unscheduled aggregate prepayment of principal on this facility as part of the aforementioned amendment to the ratio of EBITDA to net interest expense. This prepayment amount applies to all installments due for six months following the prepayment date. Accordingly, quarterly repayments will resume under this facility in April 2018.

The amounts outstanding relating to this facility as of December 31, 2017 and 2016 were $34.7 million and $39.8 million, respectively. We were in compliance with the financial covenants relating to this facility as of those dates.

2016 Credit Facility

In August 2016, we executed a senior secured loan facility with ABN AMRO Bank N.V., Nordea Bank Finland plc, acting through its New York branch, and Skandinaviska Enskilda Banken AB. The loan facility was fully drawn in September 2016, and the aggregate proceeds of $288.0 million were used to refinance the existing indebtedness on 16 MR product tankers, which were previously financed under the 2013 Credit Facility. This credit facility is comprised of a term loan up to $192.0 million and a revolver up to $96.0 million. We refer to this credit facility as our 2016 Credit Facility.

In September 2017, we repaid $44.6 million on our 2016 Credit Facility as a result of the closing of the refinancing of the amounts borrowed for STI Topaz, STI Ruby and STI Garnet. In November 2017, we repaid $14.9 million on our 2016 Credit Facility as a result of the closing of the refinancing of the amount borrowed for STI Amber. These vessels were part of the lease financing arrangement entered into with Bank of Communications Financial Leasing in September 2017, which is described below.

Repayments on the term loan facility, after the aforementioned repayments, are being made in equal, consecutive quarterly installments of $5.3 million through September 2018 and $4.6 million for each quarter thereafter with a final balloon payment due at the maturity date of September 2021. All amounts borrowed under the revolving credit facility are due at the maturity date of September 2021. The facility bears interest at LIBOR plus a margin of 2.50% per annum.

Our 2016 Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, of greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel plus $250,000 per each time chartered-in vessel.


•	The aggregate of the fair market value of the vessels provided as collateral under the facility shall at all times be no less than 140% of the then aggregate outstanding principal amount of the loans under the credit facility.

The amounts outstanding relating to this facility as of December 31, 2017 and 2016 were $196.0 million and $281.2 million. We were in compliance with the financial covenants relating to this facility as of those dates.

DVB 2016 Credit Facility

In September 2016, we executed a senior secured term loan facility with DVB Bank SE. The loan facility was fully drawn in September 2016, and the proceeds of $90.0 million were used to refinance the existing indebtedness on four product tankers (STI Alexis, STI Milwaukee, STI Seneca, and STI Wembley), which were previously financed under the 2013 Credit Facility. We refer to this credit facility as our DVB 2016 Credit Facility. In April 2017, we refinanced the outstanding amounts borrowed under this facility by repaying $86.8 million and drawing down $81.4 million from the DVB 2017 Credit Facility as described below.

2017 Credit Facility

In March 2017, we executed a senior secured term loan facility with a group of financial institutions led by Macquarie Bank Limited (London Branch) for up to $172.0 million, or the 2017 Credit Facility. The 2017 Credit Facility consists of five tranches; including two commercial tranches of $15.0 million and $25.0 million, a KEXIM Guaranteed Tranche of $48.0 million, a KEXIM Funded Tranche of $52.0 million, and a GIEK Guaranteed Tranche of $32.0 million.

During the year ended December 31, 2017, we made the following drawdowns to partially finance the purchase of seven newbuilding MRs:



Drawdown amount
(in millions of U.S. dollars)		Drawdown date	Collateral
$	20.4	March 2017	STI Galata
20.4		April 2017	STI Bosphorus
21.0		June 2017	STI Leblon
21.0		July 2017	STI La Boca
20.6		September 2017	STI San Telmo
20.7		October 2017	STI Donald C Trauscht
21.5		December 2017	STI Esles II

The remaining availability was used to partially finance the purchase of the remaining MR product tanker that was under construction at HMD as of December 31, 2017, which was delivered in January 2018. Drawdowns are available at an amount equal to the lower of 60% of the contract price and 60% of the fair market value of each respective vessel. Other key terms are as follows:


•	The first commercial tranche of $15.0 million has a final maturity of six years from the drawdown date of each vessel, bears interest at LIBOR plus a margin of 2.25% per annum, and has a 15 year repayment profile.

•

The second commercial tranche of $25.0 million has a final maturity of nine years from the drawdown date of each vessel (assuming KEXIM or GIEK have not exercised their option to call for prepayment of the KEXIM and GIEK funded and guaranteed tranches by the date falling two months prior to the maturity of the first commercial tranche and in the event that the first commercial tranche has not been extended), bears interest at LIBOR plus a margin of 2.25% per annum, and has a 15 year repayment profile.


•	The KEXIM Funded Tranche and GIEK Guaranteed Tranche have a final maturity of 12 years from the drawdown date of each vessel (assuming the commercial tranches are refinanced through that date), bear interest at LIBOR plus a margin of 2.15% per annum, and have a 12 year repayment profile.


•	The KEXIM Guaranteed Tranche has a final maturity of 12 years from the drawdown date of each vessel (assuming the commercial tranches are refinanced through that date), bears interest at LIBOR plus a margin of 1.60% per annum, and has a 12 year repayment profile.

Our 2017 Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, of greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel and $250,000 per each time chartered-in vessel.

•

Concurrent with the amendment on the ratio of EBITDA to net interest expense financial covenant in August 2017, the security cover ratio under the 2017 Credit Facility was revised such that the aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than the following percentages of the then aggregate outstanding principal amount of the loans under the credit facility:



From	To	Minimum ratio
3-Aug-17	31-Dec-17	160	%
1-Jan-18	31-Dec-18	155	%
1-Jan-19	31-Dec-19	150	%
1-Jan-20	Thereafter	145	%

Additionally, we have an aggregate of $4.1 million on deposit in a debt service reserve account as of December 31, 2017 in accordance with the terms and conditions of this facility. The funds deposited in this account are not freely available and will be released upon maturity. The balance in this account has been recorded as non-current Restricted Cash on our consolidated balance sheet as of December 31, 2017.

The amount outstanding as of December 31, 2017 was $141.8 million, and we were in compliance with the financial covenants relating to this facility as of that date.

HSH Nordbank Credit Facility

In January 2017, we executed a senior secured credit facility agreement with HSH Nordbank AG for $31.1 million, or the HSH Nordbank Credit Facility. In February 2017, we refinanced the outstanding indebtedness related to STI Duchessa and STI Onyx by repaying an aggregate of $23.7 million on our 2011 Credit Facility and drawing down an aggregate of $31.1 million from this facility as follows:

In October 2017, we refinanced the amounts borrowed for STI Onyx by repaying an aggregate of $13.8 million on our HSH Credit Facility and drawing down $22.2 million on our BCFL Lease Financing (MR), as described below.

Since the refinancing of STI Onyx, repayments are being made in consecutive quarterly installments of $397,913 through February 2019 and $346,011 through the maturity date of February 2022. The last payment shall be payable together with an additional balloon installment equal to the then outstanding balance of the loan. The facility bears interest at LIBOR plus a margin of 2.50% per annum.

Our HSH Nordbank Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, of greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel and $250,000 per each time chartered-in vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 140% of the then aggregate outstanding principal amount of the loans under the credit facility.

The amount outstanding as of December 31, 2017 was $15.4 million, and we were in compliance with the financial covenants relating to this facility as of that date.

DVB 2017 Credit Facility

In March 2017, we executed a senior secured term loan facility of up to $81.4 million with DVB Bank SE, or the DVB 2017 Credit Facility, to refinance our previous facility with DVB Bank SE. The DVB 2017 Credit Facility was used to refinance the existing indebtedness on four product tankers, STI Wembley, STI Milwaukee, STI Seneca and STI Alexis in April 2017. The drawdowns are summarized as follows:



Drawdown amount
(in millions of U.S. dollars)		Drawdown date	Collateral
$	28.3	April 2017	STI Alexis
18.9		April 2017	STI Seneca
17.9		April 2017	STI Milwaukee
16.3		April 2017	STI Wembley

Repayments on all borrowings under the DVB 2017 Credit Facility are being made in consecutive quarterly installments of $1.5 million, the last of which shall be payable together with an additional balloon installment equal to the then outstanding balance of the loan. The facility has a final maturity date of December 15, 2021 and bears interest at LIBOR plus a margin of 2.75% per annum.

Our DVB 2017 Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $677.3 million plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after October 1, 2013 and (ii) 50% of the net proceeds of new equity issues occurring on or after October 1, 2013.


•	The ratio of EBITDA to net interest expense (excluding non-cash items), calculated on a trailing four quarter basis, equal to or greater than 1.50 to 1.00 from the quarter ended June 30, 2017 until December 31, 2018 and 2.50 to 1.00 thereafter.


•	Minimum liquidity of not less than the greater of $25.0 million and $500,000 per each owned vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 140% of the then aggregate outstanding principal amount of the loans under the credit facility.

In April 2017, we drew down $81.4 million from this credit facility as part of the refinancing of the amounts borrowed under the DVB 2016 Credit Facility.

The amount outstanding as of December 31, 2017 was $78.4 million, and we were in compliance with the financial covenants relating to this facility as of that date.

Credit Agricole Credit Facility

As part of the closing of the NPTI Vessel Acquisition in June 2017, we assumed the outstanding indebtedness under NPTI's senior secured term loan with Credit Agricole. STI Excel, STI Excelsior, STI Expedite and STI Exceed are pledged as collateral under this facility. Repayments are being made in equal quarterly installments of $2.1 million in aggregate in accordance with a 15-year repayment profile with a balloon payment due upon maturity, which occurs between November 2022 and February 2023 (depending on the vessel). The facility bears interest at LIBOR plus a margin of 2.75%.

Our Credit Agricole Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth of no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel and $250,000 per each time chartered-in vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 135% of the then aggregate outstanding principal amount of the loans under the credit facility.

The amount outstanding as of December 31, 2017 was $103.9 million, and we were in compliance with the financial covenants relating to this facility as of that date.

ABN AMRO/K-Sure Credit Facility

We assumed the outstanding indebtedness under NPTI's senior secured credit facility with ABN AMRO Bank N.V. and Korea Trade Insurance Corporation, or K-Sure, which we refer to as the ABN AMRO/K-Sure Credit Facility, upon the closing of the Merger with NPTI in September 2017. Two LR1s (STI Precision and STI Prestige) are collateralized under this facility and the facility consists of two separate tranches, an $11.5 million commercial tranche and a $43.8 million K-Sure tranche (which represents the amounts assumed from NPTI).

The commercial tranche bears interest at LIBOR plus 2.75%, and the K-Sure tranche bears interest at LIBOR plus 1.80%. Repayments on the K-Sure tranche are being made in equal quarterly installments of $1.0 million in accordance with a 12-year repayment profile from the date of delivery from the shipyard, with a balloon payment due upon maturity, and the commercial tranche is being repaid via a balloon payment upon maturity in September and November 2022 (depending on the vessel). The K-Sure tranche fully matures in September and November 2028 (depending on the vessel), and K-Sure has an option to require repayment upon the maturity of the commercial tranche if the commercial tranche is not refinanced by its maturity dates.

Our ABN AMRO/K-Sure Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel and $250,000 per each time chartered-in vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 135% of the then aggregate outstanding principal amount of the loans (less any amounts held in a debt service reserve account as described below) under the credit facility.

Additionally, we have an aggregate of $0.5 million on deposit in a debt service reserve account as of December 31, 2017 in accordance with the terms and conditions of this facility. The funds deposited in this account are not freely available and will be released upon maturity. The balance in this account has been recorded as non-current Restricted Cash on our consolidated balance sheet as of December 31, 2017.

The amount outstanding as of December 31, 2017 was $49.9 million, and we were in compliance with the financial covenants relating to this facility as of that date.

Citibank/K-Sure Credit Facility

We assumed the outstanding indebtedness under NPTI's senior secured credit facility with Citibank N.A., London Branch, Caixabank, S.A., and K-Sure, which we refer to as the Citi/K-Sure Credit Facility, upon the closing of the Merger with NPTI in September 2017. Four LR1s (STI Excellence, STI Executive, STI Experience, and STI Express) are collateralized under this facility. The facility consists of two separate tranches, a $25.1 million commercial tranche and a $91.2 million K-Sure tranche (which represents the amounts assumed from NPTI).

The commercial tranche bears interest at LIBOR plus 2.50% and the K-Sure tranche bears interest at LIBOR plus 1.60%. Repayments on the K-Sure tranche are being made in equal quarterly installments of $2.1 million in accordance with a 12-year repayment profile from the date of delivery from the shipyard, with a balloon payment due upon maturity and the commercial tranche is scheduled to be repaid via a balloon payment upon the maturity which occurs between March and May 2022 (depending on the vessel). The K-Sure tranche fully matures between March and May 2028 (depending on the vessel), and K-Sure has an option to require repayment upon the maturity of the commercial tranche if the commercial tranche is not refinanced by its maturity dates.

Our Citibank/K-Sure Credit Facility includes financial covenants that require us to maintain:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel and $250,000 per each time chartered-in vessel.


•	The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than 135% of the then aggregate outstanding principal amount of the loans (less any amounts held in a debt service reserve account as described below) under the credit facility.

Additionally, we have an aggregate of $4.0 million on deposit in a debt service reserve account as of December 31, 2017 in accordance with the terms and conditions of this facility. The funds deposited in this account are not freely available and will be released upon maturity. The balance in this account has been recorded as non-current Restricted Cash on our consolidated balance sheet as of December 31, 2017.

The amount outstanding as of December 31, 2017 was $104.1 million, and we were in compliance with the financial covenants relating to this facility as of that date.

Lease financing arrangements

Lease Financing - STI Lombard

In July 2015, we entered into an agreement with an unrelated third-party to purchase STI Lombard, an LR2 product tanker, which was under construction at DSME, for approximately $59.0 million. As part of this agreement, we agreed to make a deposit of $5.9 million and to bareboat charter-in the vessel for up to nine months, at $10,000 per day. STI Lombard was delivered to us under the bareboat charter-in agreement in August 2015. This transaction was accounted for as a finance lease as of December 31, 2015 and the finance lease liability was $53.4 million at that date. In April 2016, we took ownership of this vessel at the conclusion of the bareboat charter-in agreement and paid the remaining 90% of the purchase price, or $53.1 million, as part of this transaction. Accordingly, all amounts due under the finance lease were settled at that date.

2017 Lease Financing Arrangements Overview

The below lease financing arrangements were entered into during 2017 or were assumed as part of the Merger with NPTI. For each arrangement, we have evaluated whether, in substance, these transactions are leases or merely a form of financing. As a result of this evaluation, we have concluded that each agreement is a form of financing on the basis that the terms and conditions are such that we never part with the risks and rewards incidental to ownership of each vessel for the remainder of its useful life. This conclusion was reached, in part, as a result of the existence within each agreement of either a purchase obligation or a purchase option that will almost certainly be exercised. Accordingly, the liability under each arrangement has been recorded at amortized cost using the effective interest method, and the corresponding vessels have been recorded at cost, less accumulated depreciation, on our consolidated balance sheet.

The obligations set forth below are secured by, among other things, assignments of earnings and insurances and stock pledges and account charges in respect of the subject vessels. All of the financing arrangements contain customary events of default, including cross-default provisions.

Bank of Communications Financial Leasing MR financing, or the BCFL Lease Financing (MR)

In September 2017, we entered into finance lease agreements to sell and lease back five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx) to an unaffiliated third party for a sales price of $27.5 million per vessel. The financing for STI Topaz, STI Ruby and STI Garnet closed in September 2017. The financing for STI Onyx closed in October 2017, and the financing for STI Amber closed in November 2017. Each agreement is for a fixed term of seven years at a bareboat rate of $9,025 per vessel per day, and we have three consecutive one-year options to extend each charter beyond the initial term. Furthermore, we have the option to purchase these vessels beginning at the end of the fifth year of the agreements through the end of the tenth year of the agreements. A deposit of $5.1 million per vessel was retained by the buyers and will either be applied to the purchase price of the vessel if a purchase option is exercised, or refunded to us at the expiration of the agreement (as applicable).

Our BCFL Lease Financing (MR) includes a financial covenant that requires us to maintain the aggregate of the fair market value of each vessel leased under the facility plus the aforementioned $5.1 million deposit shall at all times be no less than 100% of the then outstanding balance plus the aforementioned $5.1 million deposit.

The aggregate outstanding balance under this arrangement was $109.2 million as of December 31, 2017, and we were in compliance with the financial covenants as of that date.

Bank of Communications Financial Leasing LR2 financing, or the BCFL Lease Financing (LR2)

In connection with the Merger, we assumed the obligations under NPTI’s finance lease arrangement with Bank of Communications Finance Leasing Co Ltd., or BCFL, for three LR2 tankers (STI Solace, STI Solidarity, and STI Stability) upon the September Closing. Under the arrangement, each vessel is subject to a 10-year bareboat charter, which charters expire in July 2026. Charterhire under the arrangement is determined in advance, on a quarterly basis and is calculated by determining the payment based off of the then outstanding balance, the time to expiration and an interest rate of LIBOR plus 3.50%. Using the forward interest swap curve at December 31, 2017, future monthly principal payments are estimated to be $0.2 million per vessel gradually increasing to $0.3 million per vessel per month until the expiration of the agreement. We have purchase options to re-acquire each of the subject vessels during the bareboat charter period, with the first of such options exercisable at the end of the fourth year from the delivery date of the respective vessel. There is also a purchase obligation for each vessel upon the expiration of the agreement for $29.7 million in aggregate.

Additionally, we have an aggregate of $0.8 million on deposit in a deposit account as of December 31, 2017 in accordance with the terms and conditions of this facility. The funds deposited in this account are not freely available and will be released upon maturity. The balance in this account has been recorded as non-current Restricted Cash on our consolidated balance sheet as of December 31, 2017.

The carrying value of the amounts due under this arrangement (which reflect fair value adjustments made as part of the initial purchase price allocation) was $104.2 million as of December 31, 2017, and we were in compliance with the financial covenants as of that date.

CSSC Shipping Lease Financing

In connection with the Merger, we assumed the obligations under NPTI’s finance lease arrangement with CSSC (Hong Kong) Shipping Company Limited, or CSSC, for eight LR2 tankers (STI Gallantry, STI Nautilus, STI Guard, STI Guide, STI Goal, STI Gauntlet, STI Gladiator and STI Gratitude) upon the September Closing. Under the arrangement, each vessel is subject to a 10-year bareboat charter which charters expire throughout 2026 and 2027 (depending on the vessel). Charterhire under the arrangement is comprised of a fixed repayment amount of $0.2 million per month per vessel plus a variable component calculated at LIBOR plus 4.60%. We have purchase options to re-acquire each of the subject vessels during the bareboat charter period, with the first of such options exercisable at the end of the fourth year from the delivery date of the respective vessel. There is also a purchase obligation for each vessel upon the expiration of the agreement for $111.4 million in aggregate.

Our CSSC finance lease arrangement includes a financial covenant that requires the fair market value of each vessel that is leased under this facility to at all times be no less than 125% of the applicable outstanding balance for such vessel. In September 2017, we made a $10.9 million aggregate prepayment on this arrangement to maintain compliance with this covenant. This prepayment was released from restricted cash that was assumed from NPTI at the closing date of the Merger.

The carrying value of the amounts due under this arrangement (which reflect fair value adjustments made as part of the initial purchase price allocation) was $270.0 million as of December 31, 2017, and we were in compliance with the financial covenants as of that date.

CMBFL Lease Financing

In connection with the Merger, we assumed the obligations under NPTI’s finance lease arrangement with CMB Financial Leasing Co. Ltd, or CMBFL, for two LR1 tankers (STI Pride and STI Providence) upon the September Closing. Under this arrangement, each vessel is subject to a seven-year bareboat charter, which expires in July or August 2023 (depending on the vessel). Charterhire under the arrangement is comprised of a fixed, quarterly repayment amount of $0.6 million per vessel plus a variable component calculated at LIBOR plus 3.75%. We have purchase options to re-acquire each of the subject vessels during the bareboat charter period, with the first of such options exercisable on the third anniversary from the delivery date of the respective vessel. There is also a purchase obligation for each vessel upon the expiration of the agreement for $40.2 million in aggregate. We are subject to certain terms and conditions, including financial covenants, under this arrangement which are summarized as follows:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel and $250,000 per each time chartered-in vessel.


•	The fair market value of each vessel leased under the facility shall at all times be no less than 115% of the outstanding balance for such vessel.

Additionally, we have an aggregate of $2.0 million on deposit in a deposit account as of December 31, 2017 in accordance with the terms and conditions of this facility. The funds deposited in this account are not freely available and will be released upon maturity. The balance in this account has been recorded as non-current Restricted Cash on our consolidated balance sheet as of December 31, 2017.

The carrying value of the amounts due under this arrangement (which reflect fair value adjustments made as part of the initial purchase price allocation) was $65.9 million as of December 31, 2017, and we were in compliance with the financial covenants as of that date.

Ocean Yield Lease Financing

In connection with the Merger, we assumed the obligations under NPTI’s finance lease arrangement with Ocean Yield ASA for four LR2 tankers (STI Sanctity, STI Steadfast, STI Supreme, and STI Symphony) upon the September Closing. Under this arrangement, each vessel is subject to a 13-year bareboat charter, which expires between February and August 2029 (depending on the vessel). Charterhire, which is paid monthly in advance, includes a fixed payment in addition to a quarterly adjustment based on prevailing LIBOR rates.

Monthly principal payments are approximately $0.2 million per vessel gradually increasing to $0.3 million per vessel per month until the expiration of the agreement. The interest component of the leases approximates LIBOR plus 5.40%. We also have purchase options to re-acquire each of the vessels during the bareboat charter period, with the first of such options exercisable beginning at the end of the seventh year from the delivery date of the subject vessel.

We are subject to certain terms and conditions, including financial covenants, under this arrangement which are summarized as follows:


•	The ratio of net debt to total capitalization no greater than 0.60 to 1.00.


•	Consolidated tangible net worth no less than $1.0 billion plus (i) 25% of the cumulative positive net income (on a consolidated basis) for each fiscal quarter commencing on or after January 1, 2016 and (ii) 50% of the net proceeds of new equity issues occurring on or after January 1, 2016.


•	Minimum liquidity of not less than the greater of $25.0 million or $500,000 per each owned vessel and $250,000 per each time chartered-in vessel.

The carrying value of the amounts due under this arrangement (which reflect fair value adjustments made as part of the initial purchase price allocation) was $169.0 million as of December 31, 2017, and we were in compliance with the financial covenants as of that date.

Unsecured debt

Unsecured Senior Notes Due 2020

On May 12, 2014, we issued $50.0 million in aggregate principal amount of 6.75% Senior Notes due May 2020, or our Senior Notes Due 2020, and on June 9, 2014, we issued an additional $3.75 million aggregate principal amount of Senior Notes Due 2020 when the underwriters partially exercised their option to purchase additional Senior Notes Due 2020 on the same terms and conditions. The net proceeds from the issuance of the Senior Notes Due 2020 were $51.8 million after deducting the underwriters’ discounts, commissions and offering expenses.

The Senior Notes Due 2020 bear interest at a coupon rate of 6.75% per year, payable quarterly in arrears on the 15th day of February, May, August and November of each year. Coupon payments commenced on August 15, 2014. The Senior Notes Due 2020 are redeemable at our option, in whole or in part, at any time on or after May 15, 2017 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

The Senior Notes Due 2020 are our senior unsecured obligations and rank equally with all of our existing and future senior unsecured and unsubordinated debt and are effectively subordinated to our existing and future secured debt, to the extent of the value of the assets securing such debt, and will be structurally subordinated to all existing and future debt and other liabilities of our subsidiaries. No sinking fund is provided for the Senior Notes Due 2020. The Senior Notes Due 2020 were issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof and are listed on the NYSE under the symbol “SBNA.”

The Senior Notes Due 2020 require us to comply with certain covenants, including financial covenants; restrictions on consolidations, mergers or sales of assets and prohibitions on paying dividends or returning capital to equity holders if a covenant breach or an event of default has occurred or would occur as a result of such payment. If we undergo a change of control, holders may require us to repurchase for cash all or any portion of their notes at a change of control repurchase price equal to 101% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the change of control purchase date.

The financial covenants under our Senior Notes Due 2020 include:


•	Net borrowings shall not equal or exceed 70% of total assets.


•	Net worth shall always exceed $650.0 million.

The outstanding balance was $53.75 million as of December 31, 2017 and December 31, 2016, and we were in compliance with the financial covenants relating to the Senior Notes Due 2020 as of those dates.

Convertible Senior Notes Due 2019

In June 2014, we issued $360.0 million in aggregate principal amount of convertible senior notes due 2019, or the Convertible Notes, in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act. This amount includes the full exercise of the initial purchasers’ option to purchase an additional $60.0 million in aggregate principal amount of the Convertible Notes in connection with the offering. The net proceeds we received from the issuance of the Convertible Notes after the exercise of the initial purchasers’ option to purchase additional Convertible Notes were $349.0 million after deducting the initial purchasers’ discounts, commissions and offering expenses of $11.0 million. As part of the transaction, we used a portion of the net proceeds to repurchase $95.0 million of our common stock, or 10,127,600 shares, at $9.38 per share in a privately negotiated transaction.

The Convertible Notes bear interest at a coupon rate of 2.375% per annum, and are payable semi-annually in arrears on January 1 and July 1 of each year beginning on January 1, 2015. The Convertible Notes will mature on July 1, 2019, unless earlier converted, redeemed or repurchased. At issuance, the Convertible Notes were convertible in certain circumstances and during certain periods at an initial conversion rate of 82.0075 shares of common stock per $1,000 (which represents an initial conversion price of approximately $12.19 per share of common stock), subject to adjustment in certain circumstances as set forth in the indenture governing the Convertible Notes. Adjustments were made during years ended December 31, 2017 and 2016 to the initial conversion rate as a result of the issuance of dividends to our common stockholders. The table below details the dividends declared from the issuance of the Convertible Notes through December 31, 2017 and their corresponding effect to the conversion rate of the Convertible Notes. The conversion rate as of December 31, 2017 was 98.7742.



Record Date	Dividends per share		Share Adjusted Conversion Rate⁽¹⁾
August 22, 2014	$	0.100	82.8556
November 25, 2014	$	0.120	84.0184
March 13, 2015	$	0.120	85.2216
May 21, 2015	$	0.125	86.3738
August 14, 2015	$	0.125	87.4349
November 24, 2015	$	0.125	88.6790
March 10, 2016	$	0.125	90.5311
May 11, 2016	$	0.125	92.5323
September 15, 2016	$	0.125	94.9345
November 25, 2016	$	0.125	97.7039
February 23, 2017	$	0.010	97.9316
May 11, 2017	$	0.010	98.1588
September 25, 2017	$	0.010	98.4450
December 13, 2017	$	0.010	98.7742
⁽¹⁾ Per $1,000 principal amount.

Holders may convert their notes at their option at any time prior to the close of business on the business day immediately preceding January 1, 2019 only under the following circumstances:

•

during any calendar quarter commencing after the calendar quarter ending on September 30, 2014 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 15 trading days (whether or not consecutive) during a period of 25 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;


•	during the five-business day period after any five consecutive trading day period, or the Measurement Period, in which the trading price (as defined in the indenture) per $1,000 principal amount of Convertible Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day;


•	if the Company calls any or all of the Convertible Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or


•	upon the occurrence of specified corporate events as defined in the indenture (e.g. consolidations, mergers, a binding share exchange or the transfer or lease of all or substantially all of our assets).

We were not permitted to redeem the Convertible Notes prior to July 6, 2017. Effective July 6, 2017, we may redeem for cash all or any portion of the notes, at our option if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 15 trading days (whether or not consecutive) during any 25 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Convertible Notes.

The Convertible Notes require us to comply with certain covenants such as restrictions on consolidations, mergers or sales of assets. Additionally, if we undergo a fundamental change, holders may require us to repurchase for cash all or any portion of their notes at a fundamental change repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

Upon issuance, we determined the initial carrying value of the liability component of the Convertible Notes to be $298.7 million based on the fair value of a similar liability that does not have any associated conversion feature. We used our Senior Notes Due 2020 issued in May 2014 as the basis for this determination. The difference between the fair value of the liability component and the face value of the Convertible Notes is being amortized over the term of the Convertible Notes under the effective interest method and recorded as part of financial expenses. The residual value of $61.3 million (the conversion feature) was recorded to Additional paid-in capital upon issuance.

In July 2015, we repurchased $1.5 million face value of our Convertible Notes at an average price of $1,088.10 per $1,000 principal amount. As a result of this transaction, we reduced the liability and equity components of the Convertible Notes by $1.3 million and $0.4 million, respectively and we recorded a gain of $46,273, which is recorded within financial income of consolidated statement of income or loss. We also wrote off $30,880 of deferred financing fees as a result of this transaction.

In March 2016, we repurchased $5.0 million face value of our Convertible Notes at an average price of $831.05 per $1,000 principal amount, or $4.2 million. As a result of this transaction, we reduced the liability and equity components of the Convertible Notes by $4.4 million and $0.3 million, respectively and we recorded a gain of $0.6 million, which is recorded within financial income of the consolidated statement of income or loss. We also wrote off $0.1 million of deferred financing fees as a result of this transaction.

In May 2016, we repurchased $5.0 million face value of our Convertible Notes at an average price of $847.50 per $1,000 principal amount, or $4.2 million. As a result of this transaction, we reduced the liability and equity components of the Convertible Notes by $4.4 million and $0.2 million, respectively and we recorded a gain of $0.4 million, which is recorded within financial income of the consolidated statement of income or loss. We also wrote off $0.1 million of deferred financing fees as a result of this transaction.

The carrying values of the liability component of the Convertible Notes as of December 31, 2017 and 2016, were $328.7 million and $316.5 million, respectively. We incurred $8.3 million of coupon interest and $12.2 million of non-cash accretion of our Convertible Notes during the year ended December 31, 2017. We incurred $8.3 million of coupon interest and $11.6 million of non-cash accretion of our Convertible Notes during the year ended December 31, 2016.

We were in compliance with the covenants related to the Convertible Notes as of December 31, 2017 and December 31, 2016.

Unsecured Senior Notes Due 2017

On October 31, 2014, we issued $45.0 million aggregate principal amount of 7.50% Unsecured Senior Notes due October 15, 2017, or the Senior Notes Due 2017, and on November 17, 2014, we issued an additional $6.75 million aggregate principal amount of Senior Notes Due 2017 when the underwriters exercised their option to purchase additional Senior Notes Due 2017 on the same terms and conditions. The net proceeds from the issuance of the Senior Notes Due 2017 were approximately $49.9 million after deducting the underwriters’ discounts, commissions and offering expenses.

In March 2017, we initiated a cash tender offer for our Senior Notes due 2017, which commenced simultaneously with the offering of the Senior Notes due 2019 (described below) and expired in April 2017. A total of $6.3 million aggregate principal amount of our Senior Notes due 2017 was tendered as part of this process and settled in April 2017. In October 2017, the remaining balance of the Senior Notes due 2017 of $45.5 million matured and was repaid in full.

Unsecured Senior Notes Due 2019

In March 2017, we issued $50.0 million in aggregate principal amount of 8.25% Senior Notes due June 2019, or our Senior Notes Due 2019, in an underwritten public offering and in April 2017, we issued an additional $7.5 million of Senior Notes due 2019 when the underwriters fully exercised their option to purchase additional notes under the same terms and conditions. The net proceeds from the issuance of the Senior Notes Due 2019 were $55.3 million after deducting the underwriters’ discounts, commissions and estimated offering expenses. Interest payments, which commenced on June 1, 2017, are payable quarterly in arrears on the 1st day of March, June, September and December of each year.

The Senior Notes Due 2019 are redeemable at our option, in whole or in part, at any time on or after December 1, 2018 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The Senior Notes Due 2019 are our senior unsecured obligations and rank equally with all of our existing and future senior unsecured and unsubordinated debt and are effectively subordinated to our existing and future secured debt, to the extent of the value of the assets securing such debt, and will be structurally subordinated to all existing and future debt and other liabilities of our subsidiaries. No sinking fund is provided for the Senior Notes Due 2019. The Senior Notes Due 2019 were issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof and are listed on the NYSE under the symbol SBBC.

The Senior Notes Due 2019 require us to comply with certain covenants, including financial covenants; restrictions on consolidations, mergers or sales of assets and prohibitions on paying dividends or returning capital to equity holders if a covenant breach or an event of default has occurred or would occur as a result of such payment. If we undergo a change of control, holders may require us to repurchase for cash all or any portion of their notes at a change of control repurchase price equal to 101% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the change of control purchase date.

The financial covenants under our Senior Notes Due 2019 include:


•	Net borrowings shall not equal or exceed 70% of total assets.


•	Net worth shall always exceed $650.0 million.

The amount outstanding as of December 31, 2017 was $57.5 million, and we were in compliance with the financial covenants relating to this facility as of that date.

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Derivative financial instruments

Profit or loss sharing agreements

In February 2015, we took delivery of an LR2 product tanker, Densa Crocodile, on a time charter-in arrangement for one year at $21,050 per day with an option to extend the charter for an additional year at $22,600 per day. We also entered into a profit and loss sharing agreement whereby 50% of the profits and losses relating to this vessel above or below the charterhire rate were shared with a third party who neither owns nor operates this vessel. The option to extend the charter was declared in February 2016, and the profit and loss agreement was also extended for the optional period. This agreement was settled in January 2017.

This profit and loss agreement was recorded as a derivative, recorded at fair value through profit or loss, with any resultant gain or loss recognized in the consolidated statement of income or loss. Changes in fair value were recorded as unrealized gains or losses and actual earnings are recorded as realized gains or losses on derivative financial instruments within the consolidated statement of income or loss. The fair value of this instrument was determined by comparing published time charter rates to the charter rate in the agreement and discounting these cash flows to their present value.

The fair value of this instrument was an asset of $0.1 million as of December 31, 2016.

The following has been recorded as realized and unrealized gains or losses on our derivative financial instruments during the years ended December 31, 2017, 2016 and 2015:



	Fair value adjustments
	Statement of income
Amounts in thousands of U.S. dollars	Realized (loss) / gain			Unrealized gain / (loss)			Recognized in equity

Profit and loss agreement	$	(116	)	$	—		$	—

Total year ended December 31, 2017	$	(116	)	$	—		$	—

Profit and loss agreement	$	—		$	1,371		$	—

Total year ended December 31, 2016	$	—		$	1,371		$	—

Profit and loss agreement	$	—		$	(1,255	)	$	—
Interest rate swaps	55			—			77

Total year ended December 31, 2015	$	55		$	(1,255	)	$	77

Segment Reporting

12 Months Ended

Dec. 31, 2017

Operating Segments [Abstract]

Segment reporting

Information about our reportable segments for the years ended December 31, 2017, 2016 and 2015 is as follows:

For the year ended December 31, 2017



In thousands of U.S. dollars	LR1/Panamax			Handymax			LR2			MR			Reportable segments subtotal			Corporate and eliminations			Total
Vessel revenue	$	22,573		$	95,098		$	157,123		$	237,938		$	512,732		$	—		$	512,732
Vessel operating costs	(12,561		)	(50,145		)	(67,254		)	(101,267		)	(231,227		)	—			(231,227		)
Voyage expenses	(1,018		)	(3,087		)	(2,642		)	(986		)	(7,733		)	—			(7,733		)
Charterhire	(2,230		)	(24,560		)	(6,258		)	(42,702		)	(75,750		)	—			(75,750		)
Depreciation	(7,828		)	(18,159		)	(54,922		)	(60,509		)	(141,418		)	—			(141,418		)
General and administrative expenses	(479		)	(2,170		)	(2,805		)	(4,569		)	(10,023		)	(37,488		)	(47,511		)
Loss on sales of vessels	—			—			—			(23,345		)	(23,345		)	—			(23,345		)
Merger transaction related costs	—			—			—			—			—			(36,114		)	(36,114		)
Bargain purchase gain	—			—			—			—			—			5,417			5,417
Financial expenses	—			—			—			—			—			(116,240		)	(116,240		)
Realized loss on derivative financial instruments	—			—			(116		)	—			(116		)	—			(116		)
Financial income	26			214			15			338			593			945			1,538
Other expenses, net	—			1,876			—			—			1,876			(349		)	1,527
Segment income or loss	$	(1,517	)	$	(933	)	$	23,141		$	4,898		$	25,589		$	(183,829	)	$	(158,240	)

For the year ended December 31, 2016



In thousands of U.S. dollars	LR1/Panamax			Handymax			LR2			MR			Reportable segments subtotal			Corporate and eliminations			Total

Vessel revenue	$	5,843		$	85,578		$	165,256		$	265,020		$	521,697		$	1,050		$	522,747
Vessel operating costs	(33		)	(32,817		)	(50,028		)	(104,242		)	(187,120		)	—			(187,120		)
Voyage expenses	(19		)	(479		)	(375		)	(705		)	(1,578		)	—			(1,578		)
Charterhire	(5,657		)	(26,292		)	(16,025		)	(30,888		)	(78,862		)	—			(78,862		)
Depreciation	—			(18,014		)	(41,900		)	(61,547		)	(121,461		)	—			(121,461		)
General and administrative expenses	(7		)	(1,410		)	(1,983		)	(4,485		)	(7,885		)	(47,014		)	(54,899		)
Loss on sales of vessels	—			—			—			(2,078		)	(2,078		)	—			(2,078		)
Financial expenses	—			—			—			—			—			(104,048		)	(104,048		)
Unrealized gain on derivative financial instruments	—			—			1,371			—			1,371			—			1,371
Financial income	—			6			37			47			90			1,123			1,213
Other expenses, net	—			—			—			(9		)	(9		)	(179		)	(188		)
Segment income or loss	$	127		$	6,572		$	56,353		$	61,113		$	124,165		$	(149,068	)	$	(24,903	)

For the year ended December 31, 2015



In thousands of U.S. dollars	LR1/Panamax			Handymax			LR2			MR			Reportable segments subtotal			Corporate and eliminations			Total
Vessel revenue	$	36,679		$	142,429		$	208,250		$	368,203		$	755,561		$	150		$	755,711
Vessel operating costs	(2,144		)	(35,254		)	(36,682		)	(100,476		)	(174,556		)	—			(174,556		)
Voyage expenses	(1,186		)	(536		)	(194		)	(2,516		)	(4,432		)	—			(4,432		)
Charterhire	(21,616		)	(26,755		)	(27,816		)	(20,678		)	(96,865		)	—			(96,865		)
Depreciation	—			(18,372		)	(29,125		)	(59,859		)	(107,356		)	—			(107,356		)
General and administrative expenses	(96		)	(1,390		)	(1,456		)	(4,329		)	(7,271		)	(58,560		)	(65,831		)
Gain / (loss) from sales of vessels	2,019			(2,054		)	—			—			(35		)	—			(35		)
Write-off of vessel purchase options	—			—			—			(731		)	(731		)	—			(731		)
Gain on sale of Dorian shares	—			—			—			—			—			1,179			1,179
Financial expenses	—			—			—			—			—			(89,596		)	(89,596		)
Realized gain on derivative financial instruments	—			—			—			—			—			55			55
Unrealized loss on derivative financial instruments	—			—			(1,255		)	—			(1,255		)	—			(1,255		)
Financial income	—			7			12			27			46			99			145
Other expenses, net	1,397			—			—			(20		)	1,377			(61		)	1,316
Segment income or loss	$	15,053		$	58,075		$	111,734		$	179,621		$	364,483		$	(146,734	)	$	217,749

Revenue from customers representing greater than 10% of total revenue during the years ended December 31, 2017, 2016 and 2015, within their respective segments was as follows:



In thousands of U.S. dollars		For the year ended December 31,
Segment	Customer	2017		2016		2015
MR	Scorpio MR Pool Limited ⁽¹⁾	$	217,141	$	248,974	$	315,925
LR2	Scorpio LR2 Pool Limited ⁽¹⁾	136,514		156,503		208,132
Handymax	Scorpio Handymax Tanker Pool Limited ⁽¹⁾	78,510		73,683		138,736
Panamax	Scorpio Panamax Tanker Pool Limited⁽¹⁾	1,515		5,843		34,613
		$	433,680	$	485,003	$	697,406


(1)	These customers are related parties as described in Note 17.

Common Shares

12 Months Ended

Dec. 31, 2017

Share-Based Payment Arrangements [Abstract]

Common shares

Follow-on Offerings of Common Shares

In May 2015, we closed on the sale of 17,177,123 newly issued shares of our common stock in an underwritten offering at an offering price of $9.30 per share. We received aggregate net proceeds of $152.1 million, after deducting the underwriters’ discounts and offering expenses of $7.6 million.

In May 2017, we closed on the sale of 50 million newly issued shares of our common stock in an underwritten public offering at an offering price of $4.00 per share. We received aggregate net proceeds of $188.7 million, after deducting underwriters' discounts and offering expenses. The completion of this offering was a condition to closing the Merger with NPTI.

In December 2017, we closed on the sale of 34.5 million newly issued shares of our common stock in an underwritten public offering at an offering price of $3.00 per share. We received aggregate net proceeds of $99.6 million after deducting underwriters' discounts and offering expenses. Of the 34.5 million common shares issued, 6.7 million shares were issued to SSH at the offering price.

Merger with NPTI

On September 1, 2017, we issued a total of 54,999,990 common shares to NPTI's shareholders as consideration for the Merger.

Additionally, as a part of the Merger, we issued 1.5 million of warrants to the NPTI pool manager (a former related party affiliate of NPTI), exercisable into our common shares at an exercise price of $0.01 per warrant, upon the delivery of the vessels acquired from NPTI to the Scorpio Group Pools. The first warrant was issued in June 2017 as part of the NPTI Vessel Acquisition for an aggregate of 222,224 of the Company's common shares, and the second warrant was issued on similar terms to the first warrant on September 1, 2017 for an aggregate of 1,277,776 of the Company's common shares at an exercise price of $0.01 per share upon the delivery of each of the 23 remaining vessels to the Scorpio Group Pools. This transaction is further described in Note 2. All of the warrants had been exercised as of December 31, 2017.

2013 Equity Incentive Plan

In April 2013, we adopted an equity incentive plan, which was amended in March 2014 and which we refer to as the 2013 Equity Incentive Plan, under which directors, officers, employees, consultants and service providers of us and our subsidiaries and affiliates are eligible to receive incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units and unrestricted common stock. We initially reserved a total of 5,000,000 common shares for issuance under the 2013 Equity Issuance Plan which was subsequently revised as follows:


•	In October 2013, we reserved an additional 6,376,044 common shares, par value $0.01 per share, for issuance pursuant to the 2013 Equity Incentive Plan. All other terms of the 2013 Equity Incentive Plan remained unchanged.


•	In September 2014, we reserved an additional 1,088,131 common shares, par value $0.01 per share, for issuance pursuant to the 2013 Equity Incentive Plan. All other terms of the 2013 Equity Incentive Plan remained unchanged.


•	In May 2015, we reserved an additional 1,755,443 common shares, par value $0.01 per share, for issuance pursuant to the 2013 Equity Incentive Plan. All other terms of the 2013 Equity Incentive Plan remained unchanged.


•	In June 2016, we reserved an additional 2,301,115 common shares, par value $0.01 per share, for issuance pursuant to the 2013 Equity Incentive Plan. All other terms of the 2013 Equity Incentive Plan remained unchanged.


•	In December 2016, we reserved an additional 1,348,992 common shares, par value $0.01 per share, for issuance pursuant to the 2013 Equity Incentive Plan. All other terms of the 2013 Equity Incentive Plan remained unchanged.


•	In October 2017, we reserved an additional 9,501,807 common shares, par value $0.01 per share, for issuance pursuant to the 2013 Equity Incentive Plan. All other terms of the 2013 Equity Incentive Plan remained unchanged.

Under the terms of the 2013 Equity Incentive Plan, stock options and stock appreciation rights granted under the 2013 Equity Incentive Plan will have an exercise price equal to the fair market value of a common share on the date of grant, unless otherwise determined by the plan administrator, but in no event will the exercise price be less than the fair market value of a common share on the date of grant. Options and stock appreciation rights will be exercisable at times and under conditions as determined by the plan administrator, but in no event will they be exercisable later than ten years from the date of grant.

The plan administrator may grant shares of restricted stock and awards of restricted stock units subject to vesting, forfeiture and other terms and conditions as determined by the plan administrator. Following the vesting of a restricted stock unit, the award recipient will be paid an amount equal to the number of vested restricted stock units multiplied by the fair market value of a common share on the date of vesting, which payment may be paid in the form of cash or common shares or a combination of both, as determined by the plan administrator. The plan administrator may grant dividend equivalents with respect to grants of restricted stock units.

Adjustments may be made to outstanding awards in the event of a corporate transaction or change in capitalization or other extraordinary event. In the event of a “change in control” (as defined in the 2013 Equity Incentive Plan), unless otherwise provided by the plan administrator in an award agreement, awards then outstanding will become fully vested and exercisable in full.

Our board of directors may amend or terminate the 2013 Equity Incentive Plan and may amend outstanding awards, provided that no such amendment or termination may be made that would materially impair any rights, or materially increase any obligations, of a grantee under an outstanding award. Shareholder approval of plan amendments will be required under certain circumstances. Unless terminated earlier by our board of directors, the 2013 Equity Incentive Plan will expire ten years from the date the plan was adopted.

In the second quarter of 2013, we issued 4,610,000 shares of restricted stock to our employees and 390,000 shares to our independent directors for no cash consideration. The weighted average share price on the issuance dates was $8.69 per share. The vesting schedule of the restricted stock to our employees is (i) one-third of the shares vested on March 10, 2016, (ii) one-third of the shares vested on March 10, 2017, and (iii) one-third of the shares vested on March 10, 2018. The vesting schedule of the restricted stock to our independent directors is (i) one-third of the shares vested on March 10, 2014, (ii) one-third of the shares vested on March 10, 2015, and (iii) one-third of the shares vested on March 10, 2016.

In October 2013, we issued 3,749,998 shares of restricted stock to our employees and 250,000 shares to our independent directors for no cash consideration. The weighted average share price on the issuance date was $9.85 per share. The vesting schedule of the restricted stock to our employees is (i) one-third of the shares vested on October 11, 2016, (ii) one-third of the shares vested on October 11, 2017, and (iii) one-third of the shares vest on October 11, 2018. The vesting schedule of the restricted stock to our independent directors is (i) one-half of the shares vested on October 11, 2014 and (ii) one-half of the shares vested on October 11, 2015.

In February 2014, we issued 2,011,000 shares of restricted stock to our employees and 145,045 shares to our independent directors for no cash consideration. The weighted average share price on the issuance date was $9.30 per share. The vesting schedule of the restricted stock to our employees is (i) one-third of the shares vested on February 21, 2017, (ii) one-third of the shares vested on February 21, 2018, and (iii) one-third of the shares vest on February 21, 2019. The vesting schedule of the restricted stock to our independent directors is (i) one-third of the shares vested on February 21, 2015, (ii) one-third of the shares vested on February 21, 2016, and (iii) one-third of the shares vested on February 21, 2017.

In May and September 2014, we issued 213,000 and 5,000 shares of restricted stock, respectively, to SSH employees for no cash consideration. The share prices on the issuance dates were $8.89 per share and $9.13 per share, respectively. The vesting schedule of the restricted stock to SSH employees is (i) one-third of the shares vested on February 21, 2017, (ii) one-third of the shares vested on February 21, 2018, and (iii) one-third of the shares vest on February 21, 2019.

In November 2014, we issued 938,131 shares of restricted stock to our employees and 50,000 shares to our independent directors for no cash consideration. The share price on the issuance date was $8.57 per share. The vesting schedule of the restricted stock to our employees is (i) one-third of the shares vested on November 18, 2017, (ii) one-third of the shares vest on November 18, 2018, and (iii) one-third of the shares vest on November 18, 2019. The restricted shares issued to our independent directors vested on November 18, 2015.

In July 2015, we issued 1,466,944 shares of restricted stock to our employees, 100,000 shares to our directors and 290,500 shares to SSH employees for no cash consideration. The share price on the issuance date was $10.32 per share. The vesting schedule of the restricted stock issued to our employees and SSH employees is (i) one-third of the shares vest on June 4, 2018, (ii) one-third of the shares vest on June 4, 2019, and (iii) one-third of the shares vest on June 4, 2020. The restricted shares issued to our directors vested on June 4, 2016.

In July 2016, we issued 1,864,615 shares of restricted stock to our employees, 150,000 shares to our directors and 286,500 shares to SSH employees for no cash consideration. The share price on the issuance date was $4.74 per share. The vesting schedule of the restricted stock issued to our employees and SSH employees is (i) one-third of the shares vest on June 5, 2019, (ii) one-third of the shares vest on June 5, 2020, and (iii) one-third of the shares vest on June 5, 2021. The restricted shares issued to our directors vested on June 5, 2017.

In December 2017, we issued 9,973,799 shares of restricted stock to our employees, 600,000 shares to our directors and 349,000 shares to SSH employees for no cash consideration. The share price on the issuance date was $3.09 per share. The vesting schedule of the restricted stock issued to our employees is as follows:



Number of restricted shares		Vesting date
360,439		September 5, 2019
670,262		March 2, 2020
1,258,576		June 1, 2020
1,395,762		September 4, 2020
670,262		March 1, 2021
1,258,576		June 1, 2021
1,395,762		September 3, 2021
670,259		March 1, 2022
1,258,578		June 1, 2022
1,035,323		September 2, 2022
9,973,799

The vesting schedule of the restricted stock issued to SSH employees is (i) one-third of the shares vest on June 1, 2020, (ii) one-third of the shares vest on June 1, 2021, and (iii) one-third of the shares vest on June 1, 2022. The vesting schedule of the restricted shares issued to our directors is (i) one-third of the shares vest on September 5, 2018, (ii) one-third of the shares vest on September 5, 2019, and (iii) one-third shares vest on September 4, 2020.

There were no shares eligible for issuance under the 2013 Equity Incentive Plan as of December 31, 2017.

The following is a summary of activity for awards of restricted stock during the years ended December 31, 2017 and 2016:



		Number of Shares		Weighted Average Grant Date Fair Value
Outstanding and non-vested, December 31, 2015		13,611,270		$	9.32
	Granted	2,301,115		4.74
	Vested	(3,248,800	)	9.19
	Forfeited	(50,000	)	7.80
Outstanding and non-vested, December 31, 2016		12,613,585		8.52
	Granted	10,922,799		3.09
	Vested	(4,236,973	)	8.99
	Forfeited	(45,000	)	7.59
Outstanding and non-vested, December 31, 2017		19,254,411		$	5.34

Compensation expense is recognized ratably over the vesting periods for each tranche using the straight-line method.

Assuming that all the restricted stock will vest, the stock compensation expense in future periods, including that related to restricted stock issued in prior periods will be:



In thousands of U.S. dollars	Employees		Directors		Total
For the year ending December 31, 2018	$	20,919	$	1,137	$	22,056
For the year ending December 31, 2019	14,146		465		14,611
For the year ending December 31, 2020	8,584		153		8,737
For the year ending December 31, 2021	3,779		—		3,779
For the year ending December 31, 2022	927		—		927
	$	48,355	$	1,755	$	50,110

Dividend Payments

The following dividends were paid during the years ended December 31, 2017, 2016 and 2015.



Dividends		Date
per share		Paid
$0.120		March 30, 2015
$0.125		June 10, 2015
$0.125		September 4, 2015
$0.125		December 11, 2015
$0.125		March 30, 2016
$0.125		June 24, 2016
$0.125		September 29, 2016
$0.125		December 22, 2016
$0.010		March 30, 2017
$0.010		June 14, 2017
$0.010		September 29, 2017
$0.010		December 28, 2017

2015 Securities Repurchase Program

In May 2015, our Board of Directors authorized a new Securities Repurchase Program to purchase up to an aggregate of $250 million of our common stock and bonds, the latter of which currently consists of our (i) Convertible Notes, (ii) Senior Notes Due 2020 (NYSE: SBNA), and (iii) Senior Notes Due 2019 (NYSE: SBBC).

In April 2017, we acquired an aggregate of 250,419 of our Senior Notes due 2017 for aggregate consideration of $6.3 million, which was the result of the cash tender offer of such notes as described in Note 13. The remaining Senior Notes due 2017 matured in October 2017 and were repaid in full.

During the year ended December 31, 2016, we acquired the following:


•	an aggregate of 2,956,760 of our common shares that are being held as treasury shares at an average price of $5.58 per share.


•	$10.0 million aggregate principal amount of our Convertible Notes at an average price of $839.28 per $1,000 principal amount.

We had $147.1 million remaining under our Securities Repurchase Program as of December 31, 2017. We expect to repurchase any securities in the open market, at times and prices that are considered to be appropriate, but we are not obligated under the terms of the program to repurchase any securities.

There were 49,980,592 common shares held in treasury at each of December 31, 2017 and December 31, 2016, respectively.

Shares outstanding

We currently have 425,000,000 registered shares of which 400,000,000 are designated as common shares with a par value of $0.01 and 25,000,000 designated as preferred shares with a par value of $0.01.

As of December 31, 2017, we had 326,507,544 common shares outstanding. These shares provide the holders with rights to dividends and voting rights.

Related Party Transactions

12 Months Ended

Dec. 31, 2017

Related Party [Abstract]

Related party transactions

On September 29, 2016, we agreed to amend our administrative services agreement, or the Administrative Services Agreement, with Scorpio Services Holding Limited, or SSH, and our master agreement, or the Master Agreement, with SCM and SSM under a deed of amendment, or the Deed of Amendment. Pursuant to the terms of the Deed of Amendment, on November 15, 2016, we entered into definitive documentation to memorialize the agreed amendments to the Master Agreement, or the Amended and Restated Master Agreement.

In December 2017, we agreed to amend the Amended and Restated Master Agreement to amend and restate the technical management agreement thereunder subject to bank consents being obtained (where required), which were subsequently obtained. On February 22, 2018, we entered into definitive documentation to memorialize the agreed amendments to the Amended and Restated Master Agreement under a deed of amendment, or the Amendment Agreement. The Amended and Restated Master Agreement as amended by the Amendment Agreement, or the Revised Master Agreement, is effective as from January 1, 2018.

Pursuant to the Revised Master Agreement, the fixed annual technical management fee was reduced from $250,000 per vessel to $175,000 per vessel, and certain services previously provided as part of the fixed fee are now itemized. The aggregate cost, including the costs that are now itemized, for the services provided under the technical management agreement, are not expected to materially differ from the annual technical management fee charged prior to the amendment.

Transactions with entities controlled by the Lolli-Ghetti family (herein referred to as related party affiliates) in the consolidated statement of income or loss and balance sheet are as follows:



	For the year ended December 31,
In thousands of U.S. dollars	2017			2016			2015
Pool revenue⁽¹⁾
Scorpio MR Pool Limited	$	217,141		$	248,974		$	315,925
Scorpio LR2 Pool Limited	136,514			156,503			208,132
Scorpio Handymax Tanker Pool Limited	78,510			73,683			138,736
Scorpio LR1 Tanker Pool Limited	13,895			—			—
Scorpio Panamax Tanker Pool Limited	1,515			5,843			34,613
Scorpio Aframax Tanker Pool Limited	1,170			—			—
Voyage expenses⁽²⁾	(1,786		)	(1,128		)	(2,127		)
Vessel operating costs⁽³⁾	(22,909		)	(19,484		)	(18,393		)
Administrative expenses⁽⁴⁾	(10,744		)	(9,462		)	(7,950		)

(1)

These transactions relate to revenue earned in the Scorpio Group Pools. The Scorpio Group Pools are related party affiliates. When our vessels are in the Scorpio Group Pools, SCM, the pool manager, charges fees of $300 per vessel per day with respect to our LR1/Panamax and Aframax vessels, $250 per vessel per day with respect to our LR2 vessels, and $325 per vessel per day with respect to each of our Handymax and MR vessels, plus a commission of 1.50% on gross revenue per charter fixture. These are the same fees that SCM charges other vessels in these pools, including third party owned vessels.

(2)

These transactions represent the expense due to SCM, a related party affiliate, for commissions related to the commercial management services provided by SCM under the commercial management agreement for vessels that are not in one of the Scorpio Group Pools. SCM’s services include securing employment, in the spot market and on time charters, for our vessels. When not in one of the Scorpio Group Pools, each vessel pays (i) flat fees of $250 per day for LR1/Panamax and LR2/Aframax vessels and $300 per day for Handymax and MR vessels and (ii) commissions of 1.25% of their gross revenue. These expenses are included in voyage expenses in the consolidated statements of income or loss.

(3)

These transactions represent technical management fees charged by SSM, a related party affiliate, which are included in vessel operating costs in the consolidated statements of income or loss. SSM’s services include day-to-day vessel operation, performing general maintenance, monitoring regulatory and classification society compliance, customer vetting procedures, supervising the maintenance and general efficiency of vessels, arranging the hiring of qualified officers and crew, arranging and supervising drydocking and repairs, purchasing supplies, spare parts and new equipment for vessels, appointing supervisors and technical consultants and providing technical support. We believe our technical management fees are at arms-length rates as they are based on contracted rates that were the same as those charged to other vessels managed by SSM at the time the management agreements were entered into. This fee was $685 per vessel per day during the years ended December 31, 2017, 2016 and 2015.

(4)

We have an Amended Administrative Services Agreement with SSH, for the provision of administrative staff and office space, and administrative services, including accounting, legal compliance, financial and information technology services. SSH is a related party affiliate. We reimburse SSH for the reasonable direct or indirect expenses that are incurred on our behalf. SSH also arranges vessel sales and purchases for us. The services provided to us by SSH may be sub-contracted to other entities within the Scorpio Group. The expenses incurred under this agreement were as follows, and were recorded in general and administrative expenses in the consolidated statement of income or loss.

•

The expense for the year ended December 31, 2017 of $10.7 million included (i) administrative fees of $9.0 million charged by SSH, (ii) restricted stock amortization of $1.2 million, which relates to the issuance of an aggregate of 1,144,000 shares of restricted stock to SSH employees for no cash consideration in May 2014, September 2014, July 2015, July 2016 and December 2017, and (iii) the reimbursement of expenses of $0.5 million.

•

The expense for the year ended December 31, 2016 of $9.5 million included (i) administrative fees of $7.3 million charged by SSH, (ii) restricted stock amortization of $1.6 million, which relates to the issuance of an aggregate of 795,000 shares of restricted stock to SSH employees for no cash consideration in May 2014, September 2014 and July 2015 and July 2016, and (iii) the reimbursement expenses of $0.6 million.

•

The expense for the year ended December 31, 2015 of $7.9 million included (i) administrative fees of $6.8 million charged by SSH, (ii) restricted stock amortization of $0.9 million, which relates to the issuance of an aggregate of 508,500 shares of restricted stock to SSH employees for no cash consideration in May and September 2014 and July 2015 and (iii) the reimbursement of expenses of $0.2 million.

We had the following balances with related party affiliates, which have been included in the consolidated balance sheets:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Assets:
Accounts receivable (due from the Scorpio Group Pools) ⁽¹⁾	$	44,880	$	40,680
Accounts receivable and prepaid expenses (SSM) ⁽²⁾	6,391		4,233
Other assets (pool working capital contributions) ⁽³⁾	41,401		19,217
Liabilities:
Accounts payable and accrued expenses (SSM)	766		653
Accounts payable and accrued expenses (owed to the Scorpio Group Pools)	462		15
Accounts payable and accrued expenses (SCM)	191		53
Accounts payable and accrued expenses (SSH)	190		90

(1)

Accounts receivable due from the Scorpio Group Pools relate to hire receivables for revenues earned and receivables from working capital contributions. The amounts as of December 31, 2017 and 2016 include $25.7 million and $24.1 million, respectively, of working capital contributions made on behalf of our vessels to the Scorpio Group Pools. Upon entrance into such pools, all vessels are required to make working capital contributions of both cash and bunkers. Additional working capital contributions can be made from time to time based on the operating needs of the pools. These amounts are accounted for and repaid as follows:

•

For vessels in the Scorpio Handymax Tanker Pool, the initial contribution amount is repaid, without interest, upon a vessel’s exit from the pool no later than six months after the exit date. Bunkers on board a vessel exiting the pool are credited against such repayment at the actual invoice price of the bunkers. For all owned or finance leased vessels we assume that these contributions will not be repaid within 12 months and are thus classified as non-current within other assets on the consolidated balance sheets. For time or bareboat chartered-in vessels we classify the initial contributions as current (within accounts receivable) or non-current (within other assets) according to the expiration of the contract. Any additional working capital contributions are repaid when sufficient net revenues become available to cover such amounts.


•	For vessels in the Scorpio MR Pool and Scorpio Panamax Tanker Pool, any contributions are repaid, without interest, when such vessel has earned sufficient net revenues to cover the value of such working capital contributed. Accordingly, we classify such amounts as current (within accounts receivable).

•

For vessels in the Scorpio LR2 Pool, Scorpio Aframax Pool and Scorpio LR1 Pool, the initial contribution amount is repaid, without interest, upon a vessel’s exit from each pool. Bunkers on board a vessel exiting the pool are credited against such repayment at the actual invoice price of the bunkers. For all owned or finance leased vessels we assume that these contributions will not be repaid within 12 months and are thus classified as non-current within other assets on the consolidated balance sheets. For time or bareboat chartered-in vessels we classify the initial contributions as current (within accounts receivable) or non-current (within other assets) according to the expiration of the contract. Any additional working capital contributions are repaid when sufficient net revenues become available to cover such amounts.


(2)	Accounts receivable and prepaid expenses from SSM relate to advances made for vessel operating expenses (such as crew wages) that will either be reimbursed or applied against future costs.

(3) Represents the non-current portion of working capital receivables as described above.

Prior to September 29, 2016, we paid SSH a fee for arranging vessel purchases and sales, on our behalf, equal to 1% of the gross purchase or sale price, payable upon the consummation of any such purchase or sale. This fee was eliminated for all vessel purchase or sale agreements entered into after September 29, 2016. These fees are capitalized as part of the carrying value of the related vessel for a vessel purchase and are included as part of the gain or loss on sale for a vessel disposal.

•

During the year ended December 31, 2017, we paid SSH an aggregate fee of $2.2 million in connection with the purchase and delivery of STI Galata, STI Bosphorus, STI Leblon, STI La Boca, STI San Telmo and STI Donald C. Trauscht. The agreements to acquire the aforementioned vessels were entered into prior to the September 29, 2016 amendments to the Master Agreement and Administrative Service Agreement. Additionally, we paid SCM an aggregate termination fee of $0.2 million that was due under the commercial management agreements and we paid SSM an aggregate termination fee of $0.2 million that was due under technical management agreements as a result of the sales of STI Emerald and STI Sapphire which have been recorded within net loss on sales of vessels within the consolidated statement of income or loss.

•

During the year ended December 31, 2016, we paid SSH an aggregate fee of $1.7 million in connection with the sales of STI Lexington, STI Mythos, STI Chelsea, STI Powai, and STI Olivia and a fee of $0.6 million for the purchase and delivery of STI Lombard. Additionally, we paid SCM an aggregate termination fee of $2.7 million that was due under the commercial management agreements and we paid SSM an aggregate termination fee of $2.5 million that was due under the technical management agreements as a result of the aforementioned vessel sales. The agreements to sell and acquire the aforementioned vessels were entered into prior to the September 29, 2016 amendments to the Master Agreement and Administrative Service Agreement. The aggregate fees paid to SCM, SSH and SSM as they relate to the aforementioned vessel sales, are recorded within net loss on sales of vessels within the consolidated statement of income or loss.

•

During the year ended December 31, 2015, we paid SSH an aggregate fee of $12.6 million in connection with the purchase and delivery of 29 vessels and the sales of four vessels. Additionally, as a result of the sale of STI Highlander in 2015, we paid a $0.5 million termination fee due under the vessel's commercial management agreement with SCM and a $0.5 million termination fee due under the vessel's technical management agreement with SSM. The aggregate fees paid to SCM, SSH and SSM as they relate to the aforementioned vessel sales are recorded within net loss on sales of vessels within the consolidated statement of income or loss.

In 2011, we entered into an agreement to reimburse costs to SSM as part of its supervision agreement for newbuilding vessels. There were no costs incurred under this agreement during the years ended December 31, 2017, 2016 and 2015. We also have an agreement with SSM to supervise the eight MR product tankers that were under construction at HMD and delivered throughout 2017 and in January 2018. We paid SSM $0.7 million under this agreement during the year ended December 31, 2017.

Key management remuneration

The table below shows key management remuneration for the years ended December 31, 2017, 2016 and 2015:



	For the year ended December 31,
In thousands of U.S. dollars	2017		2016		2015
Short-term employee benefits (salaries)	$	6,614	$	8,786	$	15,601
Share-based compensation ⁽¹⁾	19,113		25,575		26,911
Total	$	25,727	$	34,361	$	42,512


⁽¹⁾	Represents the amortization of restricted stock issued under our equity incentive plans as described in Note 16.

For the purpose of the table above, key management are those persons who have authority and responsibility for making strategic decisions, and managing operating, financial and legal activities.

There are no post-employment benefits.

Vessel Revenue

12 Months Ended

Dec. 31, 2017

Analysis of income and expense [abstract]

Vessel revenue

During the year ended December 31, 2017, 2016 and 2015, we had five, six, and six vessels that earned revenue through long-term time-charter contracts (with initial terms of one year or greater), respectively. The remaining vessels earned revenue from the Scorpio Group Pools or in the spot market.

Revenue Sources



	For the year ended December 31,
In thousands of U.S. dollars	2017		2016		2015
Pool revenue	$	458,730	$	485,003	$	697,406
Time charter revenue	37,411		36,694		19,714
Voyage revenue (spot market)	16,591		—		38,441
Other revenue	—		1,050		150
	$	512,732	$	522,747	$	755,711

Operating Leases

12 Months Ended

Dec. 31, 2017

Leases 1 [Abstract]

Operating Leases

Time and Bareboat Chartered-In Vessels

The following table depicts our time or bareboat chartered-in vessel commitments during the year ended December 31, 2017:

Name

Year built

Vessel class

Charter type

Delivery⁽¹⁾

Charter Expiration

Rate ($/ day)

Active as of December 31, 2017

Kraslava

2007

Handymax

Time Charter

January-11

May-18

11,250

⁽²⁾

Krisjanis Valdemars

2007

Handymax

Time Charter

February-11

March-18

11,250

⁽³⁾

Silent

2007

Handymax

Bareboat

January-17

March-19

7,500

⁽⁴⁾

Single

2007

Handymax

Bareboat

January-17

March-19

7,500

⁽⁴⁾

Star I

2007

Handymax

Bareboat

January-17

March-19

7,500

⁽⁴⁾

Steel

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

Sky

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

Stone I

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

Style

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

STI Beryl

2013

Bareboat

April-17

April-25

8,800

⁽⁶⁾

STI Le Rocher

2013

Bareboat

April-17

April-25

8,800

⁽⁶⁾

STI Larvotto

2013

Bareboat

April-17

April-25

8,800

⁽⁶⁾

Vukovar

2015

Time Charter

May-15

May-18

17,034

Zefyros

2013

Time Charter

July-16

June-18

13,250

⁽⁷⁾

Gan-Trust

2013

Time Charter

January-13

January-19

13,050

⁽⁸⁾

CPO New Zealand

2011

Time Charter

September-16

September-18

15,250

⁽⁹⁾

CPO Australia

2011

Time Charter

September-16

September-18

15,250

⁽⁹⁾

Ance

2006

Time Charter

October-16

October-18

13,500

⁽¹⁰⁾

Densa Crocodile

2015

LR2

Time Charter

June-17

July-18

14,750

⁽¹¹⁾

Time or bareboat charters that expired in 2017

Densa Crocodile

2015

LR2

Time Charter

February-15

January-17

22,600

Miss Mariarosaria

2011

Time Charter

May-15

May-17

16,350

Targale

2007

Time Charter

May-12

May-17

16,200

Hellespont Progress

2006

LR1

Time Charter

March-14

May-17

17,250

Densa Alligator

2013

LR2

Time Charter

September-13

September-17

14,360



(1)	Represents delivery date or estimated delivery date.
(2)	In February 2017, we entered into a new time charter-in agreement for one year at $11,250 per day effective May 2017. We have an option to extend the charter for an additional year at $13,250 per day.
(3)	In February 2017, we entered into a new time charter-in agreement for one year at $11,250 per day effective March 2017. We have an option to extend the charter for an additional year at $13,250 per day.
(4)	In December 2016, we entered into an agreement to cancel the time charter agreement for this vessel and enter into a new bareboat charter agreement. The time charter-in contract was cancelled in January 2017 and replaced by the new bareboat contract at a rate of $7,500 per day. The agreement includes a purchase option which can be exercised through December 31, 2018. If the purchase option is not exercised, the bareboat-in agreement will expire on March 31, 2019.
(5)	In December 2016, we entered into an agreement to bareboat-in this vessel at a rate of $6,000 per day. The agreement includes a purchase option which can be exercised through December 31, 2018. If the purchase option is not exercised, the bareboat-in agreement will expire on March 31, 2019.
(6)	In April 2017, we sold and leased back this vessel, on a bareboat basis, for a period of up to eight years for $8,800 per day. The sales price was $29.0 million and we have the option to purchase this vessel beginning at the end of the fifth year of the agreement through the end of the eighth year of the agreement, at market based prices. Additionally, a deposit of $4.35 million was retained by the buyer and will either be applied to the purchase price of the vessel if a purchase option is exercised, or refunded to us at the expiration of the agreement.
(7)	In November 2017, we declared the option to extend the time charter-in agreement for an additional six months at $13,250 per day effective December 2017. We have an option to extend the charter for an additional year at $14,500 per day.
(8)	In November 2017, we extended the time charter-in agreement for one year at $13,950 per day effective January 2018. We have an option to extend the charter for an additional year at $15,750 per day.
(9)	We have an option to extend the charter for an additional year at $16,000 per day.
(10)	In August 2017, we entered into a new time charter-in agreement for one year at $13,500 per day. We have an option to extend the charter for an additional year at $15,000 per day.
(11)	In November 2017, we declared the option to extend this time charter for an additional six months at $15,750 per day effective January 2018.

The undiscounted remaining future minimum lease payments under these arrangements as of December 31, 2017 are $117.6 million. The obligations under these agreements will be repaid as follows:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Less than 1 year	$	52,532	$	57,018
1 - 5 years	42,839		30,933
5+ years	22,264		—
Total	$	117,635	$	87,951

During the years ended December 31, 2017, 2016 and 2015, our charterhire expense was $75.8 million, $78.9 million and $96.9 million, respectively. These lease payments include payments for the non-lease elements in our time chartered-in arrangements.

Time Chartered-Out Vessels

The following table summarizes the terms of our time chartered-out vessels that were in place during the years ended December 31, 2017 and 2016.



	Name	Year built	Type	Delivery Date to the Charterer	Charter Expiration		Rate ($/ day)
1	STI Pimlico	2014	Handymax	February-16	February-19	⁽¹⁾	$	18,000
2	STI Poplar	2014	Handymax	January-16	January-19	⁽¹⁾	$	18,000
3	STI Notting Hill	2015	MR	November-15	November-18	⁽²⁾	$	20,500
4	STI Westminster	2015	MR	December-15	December-18	⁽²⁾	$	20,500
5	STI Rose	2015	LR2	February-16	February-19	⁽²⁾	$	28,000
6	STI Texas City	2014	MR	March-14	April-16		$	16,000	⁽³⁾

⁽¹⁾Redelivery is plus 30 days or minus 10 days from the expiry date.

⁽²⁾Redelivery is plus or minus 30 days from the expiry date.

⁽³⁾The charter had a 50% profit sharing provision whereby we received 50% of the vessel's profits above the daily base rate from the charterer.

Payments received include payments for the non-lease elements in these time chartered-out arrangements.

The future minimum payments due to us under these non-cancellable leases are set forth below. These minimum payments are shown net of address commissions, which are deducted upon payment.




	As of December 31,
In thousands of U.S. dollars	2017		2016
Less than 1 year	$	35,992	$	37,472
1 - 5 years	2,176		38,168
5+ years	—		—
Total	$	38,168	$	75,640

Financial Expenses

12 Months Ended

Dec. 31, 2017

Analysis of income and expense [abstract]

Financial expenses

Financial expenses consist of:



	For the year ended December 31,
In thousands of U.S. dollars	2017		2016		2015
Interest payable on debt ⁽¹⁾	$	86,703	$	63,858	$	61,082
Amortization of deferred financing fees	13,381		14,149		14,688
Write-off of deferred financing fees ⁽²⁾	2,467		14,479		2,730
Accretion of Convertible Notes (as described in Note 13)	12,211		11,562		11,096
Accretion of premiums and discounts on assumed debt⁽³⁾	1,478		—		—
Total financial expenses	$	116,240	$	104,048	$	89,596

(1)

The increase in interest payable in each year is primarily attributable to increases in the Company’s average debt balance in addition to increases in LIBOR rates throughout 2017. Average debt outstanding during the years ended December 31, 2017, 2016 and 2015 was $2,265.7 million, $1,986.6 million and $1,941.0 million, respectively. The increase in average debt during the year ended December 31, 2017 was primarily the result of the Merger and the assumption of NPTI's indebtedness of $907.4 million in aggregate. Interest payable during those periods was offset by interest capitalized from vessels under construction (as described in Note 7) of $4.2 million, $6.3 million and $5.6 million, during the years ended December 31, 2017, 2016 and 2015 respectively.

(2)

The write-off of deferred financing fees in the year ended December 31, 2017 includes (i) $0.5 million related to the repayment of debt as a result of the sales of two vessels (as described in Note 6), (ii) $0.1 million related to the repayment of debt as a result of the sale and operating leasebacks of three vessels (as described in Note 6), (iii) $1.1 million related to the repayment of debt as a result of the finance lease arrangements for five vessels (as described in Note 13), and (iv) $0.8 million related to the refinancing of outstanding borrowings under various credit facilities and repurchase of our Senior Notes due 2017 as described in Note 13. The write-off of deferred financing fees in the year ended December 31, 2016 includes (i) $3.2 million related to the repayment of debt as a result of the sales of five vessels, and (ii) $11.2 million related to the refinancing of outstanding borrowings under various credit facilities and the repurchase of our Convertible Notes as described in Note 13. The write-off of deferred financing fees in the year ended December 31, 2015 relates to the refinancing of outstanding indebtedness.


(3)	The accretion of premiums and discounts represent the accretion or amortization of the fair value adjustments relating to the indebtedness assumed from NPTI that have been recorded since the closing dates of the NPTI Vessel Acquisition and the September Closing. These premiums or discounts are described in Note 13.

Tax	12 Months Ended
Tax	Dec. 31, 2017
Income Taxes [Abstract]
Tax	Tax Scorpio Tankers Inc. and its subsidiaries are incorporated in the Republic of the Marshall Islands, and in accordance with the income tax laws of the Marshall Islands, are not subject to Marshall Islands’ income tax. Based upon review of applicable laws and regulations, and after consultation with counsel, we do not believe we are subject to material income taxes in any jurisdiction, including the United States of America. Therefore, we did not have any income tax charges, benefits, or balances as of or for the periods ended December 31, 2017, 2016 and 2015.

(Loss) / Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings per share [abstract]

(Loss) / earnings per share

The calculation of both basic and diluted (loss) / earnings per share is based on net income or loss attributable to equity holders of the parent and weighted average outstanding shares of:



	For the year ended December 31,
In thousands of U.S. dollars except for share data	2017			2016			2015
Net (loss) or income attributable to equity holders of the parent - basic	$	(158,240	)	$	(24,903	)	$	217,749
Convertible Notes interest expense	—			—			19,630
Convertible Notes deferred financing amortization	—			—			1,756
Net (loss) or income attributable to equity holders of the parent - diluted	$	(158,240	)	$	(24,903	)	$	239,135

Basic weighted average number of shares	215,333,402			161,118,654			161,436,449
Effect of dilutive potential basic shares:
Restricted stock	—			—			7,323,894
Convertible Notes	—			—			30,978,983
	—			—			38,302,877
Diluted weighted average number of shares	215,333,402			161,118,654			199,739,326

(Loss) / Earnings Per Share:
Basic	$	(0.73	)	$	(0.15	)	$	1.35
Diluted	$	(0.73	)	$	(0.15	)	$	1.20

During the years ended December 31, 2017 and 2016, we incurred net losses and as a result, the inclusion of potentially dilutive shares relating to unvested shares of restricted stock and our Convertible Notes were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. Accordingly, Convertible Notes interest expense, deferred financing amortization and the potentially dilutive securities relating to the conversion of the Convertible Notes (representing 34,422,823 and 34,049,792 shares of common stock for the year ended December 31, 2017 and 2016, respectively) along with the potentially dilutive impact of 19,254,411 and 12,613,585 unvested shares of restricted stock were excluded from the computation of diluted earnings per share for the year ended December 31, 2017 and 2016, respectively.

The dilutive effect of 38,302,877 shares for the year ended December 31, 2015 relates to 31,791,435 potentially dilutive shares relating to our Convertible Notes and 13,611,270 unvested shares of restricted stock.

Financial Instruments - Financial and Other Risks

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Financial instruments - financial and other risks

Funding and capital risk management

We manage our funding and capital resources to ensure our ability to continue as a going concern while maximizing the return to the shareholder through optimization of the debt and equity balance.

IFRS 13 requires classifications of fair value measures into Levels 1, 2 and 3. Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The fair values and carrying values of our financial instruments at December 31, 2017 and 2016, respectively, are shown in the table below.

Categories of Financial Instruments



	As of December 31, 2017				As of December 31, 2016
Amounts in thousands of U.S. dollars	Fair value		Carrying Value		Fair value		Carrying Value
Financial assets
Cash and cash equivalents⁽¹⁾	$	186,462	$	186,462	$	99,887	$	99,887
Restricted cash ⁽²⁾	11,387		11,387		—		—
Loans and receivables ⁽³⁾	65,458		65,458		42,329		42,329
Derivatives at fair value through profit or loss⁽⁴⁾	—		—		116		116

Financial liabilities
Accounts payable ⁽⁵⁾	$	13,044	$	13,044	$	9,282	$	9,282
Accrued expenses ⁽⁵⁾	32,838		32,838		23,024		23,024
Secured bank loans ⁽⁶⁾	1,615,248		1,615,248		1,466,940		1,466,940
Finance lease liability⁽⁷⁾	717,139		717,139		—		—
Unsecured Senior Notes Due 2020⁽⁸⁾	53,449		53,750		48,252		53,750
Unsecured Senior Notes Due 2017 ⁽⁸⁾	—		—		52,330		51,750
Unsecured Senior Notes Due 2019 ⁽⁸⁾	58,466		57,500		—		—
Convertible Notes⁽⁹⁾	316,184		348,500		286,321		348,500


(1)	Cash and cash equivalents are considered Level 1 items as they represent liquid assets with short-term maturities.


(2)	Restricted cash are considered Level 1 items due to the liquid nature of these assets.


(3)	We consider that the carrying amount of accounts receivable approximate their fair value due to the relative short maturity of these instruments.

(4)

The derivative financial instrument at December 31, 2016 consists of the profit or loss agreement relating to Densa Crocodile whereby the profits or losses above or below the daily time charter rate were shared with a third party who neither owned nor operated the vessel. This instrument was recorded at the present value of estimated future cash flows which were derived from observable time charter rates and discounted based on the applicable yield curves to determine the fair value. As such, we classified this liability as a Level 2 fair value measurement. This agreement expired in January 2017.


(5)	We consider that the carrying amounts of accounts payable and accrued expenses approximate the fair value due to the relative short maturity of these instruments.

(6)

The carrying value of our secured bank loans are measured at amortized cost using the effective interest method. We consider that their carrying value approximates fair value because the interest rates on these instruments change with, or approximate, market interest rates. Accordingly, we consider their fair value to be a Level 2 measurement. These amounts are shown net of $29.9 million and $31.1 million of unamortized deferred financing fees as of December 31, 2017 and 2016, respectively.

(7)

The carrying value of our obligations due under finance lease arrangements are measured at amortized cost using the effective interest method. We consider that their carrying value approximates fair value because the interest rates on these instruments change with, or approximate, market interest rates. These amounts are shown net of $1.2 million of unamortized deferred financing fees as of December 31, 2017.

(8)

The carrying value of our Unsecured Senior Notes Due 2020 and 2019 are measured at amortized cost using the effective interest method. The carrying values shown in the table are the face value of the notes. These notes are shown net of $0.8 million and $1.5 million of unamortized deferred financing fees, respectively, on our consolidated balance sheet as of December 31, 2017. Our Senior Notes Due 2020 and 2019 are quoted on the New York Stock Exchange under the symbols 'SBNA' and 'SBBC', respectively. We consider their fair values to be Level 1 measurements due to their quotation on an active exchange.

(9)

The carrying value of our Convertible Notes shown in the table above is its face value. The liability component of the Convertible Notes has been recorded within Long-term debt on the consolidated balance sheet as of December 31, 2017, net of $2.8 million of unamortized deferred financing fees. The equity component of the Convertible Notes has been recorded within Additional paid-in capital on the consolidated balance sheet, net of $1.9 million of deferred financing fees. We consider its fair value to be a Level 2 measurement.

Financial risk management objectives

We identify and evaluate significant risks on an ongoing basis with the objective of managing the sensitivity of our results and financial position to those risks. These risks include market risk, credit risk, liquidity risk and foreign exchange risk.

The use of financial derivatives is governed by our policies as approved by the board of directors.

Market risk

Our activities expose us to the risks inherent with the tanker industry, which has historically been volatile, and financial risks of changes in interest rates.

Spot market rate risk

The cyclical nature of the tanker industry causes significant increases or decreases in the revenue that we earn from our vessels, particularly those vessels that operate in the spot market or participate in pools that are concentrated in the spot market such as the Scorpio Group Pools. We currently have five vessels on time charter contracts. Additionally, we have the ability to remove our vessels from the pools on relatively short notice if attractive time charter opportunities arise. A $1,000 per day increase or decrease in spot rates for all of our vessel classes would have increased or decreased our operating income by $36.6 million, $31.1 million and $31.4 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Interest rate risk

The sensitivity analyses below have been determined based on the exposure to interest rates for non-derivative instruments at the balance sheet date. For floating rate liabilities, the analysis is prepared assuming the amount of liability outstanding at the balance sheet date was outstanding for the entire year.

If interest rates had been 1% higher/lower and all other variables were held constant, our net loss for the year ended December 31, 2017 would have decreased/increased by $17.9 million. This is mainly attributable to our exposure to interest rate movements on our variable interest rate credit facilities as described in Note 13.

If interest rates had been 1% higher/lower and all other variables were held constant, our net income for the year ended December 31, 2016 would have decreased/increased by $14.8 million. This is mainly attributable to our exposure to interest rate movements on our variable interest rate credit facilities as described in Note 13.

If interest rates had been 1% higher/lower and all other variables were held constant, our net income for the year ended December 31, 2015 would have decreased/increased by $13.9 million. This is mainly attributable to our exposure to interest rate movements on our variable interest rate credit facilities that were in place during that year.

Credit risk

Credit risk is the potential exposure of loss in the event of non-performance by customers and derivative instrument counterparties.

We only place cash deposits with major banks covered with strong and acceptable credit ratings.

Accounts receivable are generally not collateralized; however, we believe that the credit risk is partially offset by the creditworthiness of our counterparties including the commercial manager. We did not experience material credit losses on our accounts receivables portfolio in the years ended December 31, 2017, 2016 and 2015.

The carrying amount of financial assets recognized in our consolidated financial statements represents the maximum exposure to credit risk without taking account of the value of any collateral obtained. We did not experience any impairment losses on financial assets in the years ended December 31, 2017, 2016 and 2015.

We monitor exposure to credit risk, and believe that there is no substantial credit risk arising from counterparties.

Liquidity risk

Liquidity risk is the risk that an entity will encounter difficulty in raising funds to meet commitments associated with financial instruments.

We manage liquidity risk by maintaining adequate reserves and borrowing facilities and by continuously monitoring forecast and actual cash flows.

Liquidity risk is the risk that an entity will encounter difficulty in raising funds to meet commitments associated with financial instruments. We manage liquidity risk by maintaining adequate reserves and borrowing facilities and by continuously monitoring forecast and actual cash flows. Current economic conditions in the product tanker market are challenging and have resulted in the incurrence of significant losses during the year ended December 31, 2017. The persistence or a deterioration in these economic conditions could cause us to breach certain of our debt covenants which could have a material adverse effect on our business, results of operations, cash flows and financial condition.

Based on internal forecasts and projections, which take into account reasonably possible changes in our trading performance, we believe that we have adequate financial resources to continue in operation and meet our financial commitments (including but not limited to newbuilding installments, debt service obligations and charterhire commitments) for a period of at least twelve months from the date of approval of these consolidated financial statements. Accordingly, we continue to adopt the going concern basis in preparing our financial statements.

Remaining contractual maturity on secured and unsecured credit facilities

The following table details our remaining contractual maturity for our secured and unsecured credit facilities. The amounts represent the future undiscounted cash flows of the financial liability based on the earliest date on which we can be required to pay. The table includes both interest and principal cash flows.

As the interest cash flows are not fixed, the interest amount included has been determined by reference to the projected interest rates as illustrated by the yield curves existing at the reporting date.

To be repaid as follows:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Less than 1 month	$	24,868	$	32,997
1-3 months	65,294		41,577
3 months to 1 year	219,144		354,738
1-5 years	2,438,033		1,723,306
5+ years	684,330		54,330
Total	$	3,431,669	$	2,206,948

All other current liabilities fall due within less than one month.

Foreign Exchange Rate Risk

Our primary economic environment is the international shipping market. This market utilizes the U.S. Dollar as its functional currency. Consequently, virtually all of our revenues and the majority of our operating expenses are in U.S. Dollars. However, we incur some of our combined expenses in other currencies, particularly the Euro. The amount and frequency of some of these expenses (such as vessel repairs, supplies and stores) may fluctuate from period to period. Depreciation in the value of the U.S. dollar relative to other currencies will increase the U.S. dollar cost of us paying such expenses. The portion of our business conducted in other currencies could increase in the future, which could expand our exposure to losses arising from currency fluctuations.

There is a risk that currency fluctuations will have a negative effect on our cash flows. We have not entered into any hedging contracts to protect against currency fluctuations. However, we have some ability to shift the purchase of goods and services from one country to another and, thus, from one currency to another, on relatively short notice. We may seek to hedge this currency fluctuation risk in the future.

Subsequent Events

12 Months Ended

Dec. 31, 2017

Events After Reporting Period [Abstract]

Subsequent events

Vessel delivery and related debt drawdown

In January 2018, we took delivery of STI Esles II and STI Jardins, MR product tankers that were under construction from HMD. In December 2017, we drew down $21.5 million from our 2017 Credit Facility to partially finance the purchase of STI Esles II, and in January 2018, we drew down $21.5 million from our 2017 Credit Facility to partially finance the purchase of STI Jardins.

Declaration of dividend

On February 13, 2018, our Board of Directors declared a quarterly cash dividend of $0.01 per share, payable on or about March 27, 2018 to all shareholders of record as of March 12, 2018.

Convertible Senior Notes due 2019

On March 12, 2018, the conversion rate of the Convertible Notes was adjusted to reflect the Company's expected payment of a cash dividend on or about March 27, 2018 to all shareholders of record as of March 12, 2018. The new conversion rate for the notes is 99.2056 shares of the Company's common shares per $1,000 principal amount of the Convertible Notes, representing an increase of the prior conversion rate of 0.4313 shares for each $1,000 principal amount of the Convertible Notes.

Revised Master Agreement

In December 2017, we agreed to amend the Amended and Restated Master Agreement to amend and restate the technical management agreement thereunder subject to bank consents being obtained, which were subsequently obtained. On February 22, 2018, we entered into definitive documentation to memorialize the agreed amendments to the Amended and Restated Master Agreement under a deed of amendment, or the Amendment Agreement. The Amended and Restated Master Agreement as amended by the Amendment Agreement, or the Revised Master Agreement, is effective as from January 1, 2018.

Amendment of Minimum Interest Coverage Ratio

In February and March 2018, we amended the ratio of EBITDA to net interest expense financial covenant on our secured credit facilities (wherever applicable) for the quarters ended June 30, 2018, September 30, 2018 and December 31, 2018. Under this amendment, the ratio was reduced to greater than 1.50 to 1.00 from 2.50 to 1.00.

Time Chartered-in Vessels

In January 2018, we entered into a new time charter-in agreement on a 2012 built, MR product tanker for one year at $14,000 per day. We have an option to extend the charter for an additional year at $14,400 per day. We took delivery of this vessel in March 2018.

In February 2018, we entered into a new time charter-in agreement on a 2013 built, LR2 product tanker for six months at $14,300 per day. We have an option to extend the charter for an additional six months at $15,310 per day. We took delivery of this vessel in February 2018.

2013 Equity Incentive Plan

In February 2018, our Board of Directors approved the reloading of the 2013 Equity Incentive Plan (the "Plan") and reserved an additional 5,122,448 common shares, par value $0.01 per share, of the Company for issuance pursuant to the plan.

In March 2018, we issued 5,002,448 shares of restricted stock to our employees and 120,000 shares to our directors for no cash consideration. The share price on the issuance date was $2.22 per share. The vesting schedule of the restricted stock issued to our employees is as follows:



Number of restricted shares		Vesting date
1,235,186		September 4, 2020
217,502		November 4, 2020
214,794		March 1, 2021
1,235,186		September 3, 2021
217,502		November 5, 2021
214,794		March 1, 2022
1,235,187		September 2, 2022
217,502		November 4, 2022
214,795		March 1, 2023
5,002,448

The vesting schedule of the restricted shares issued to our directors is (i) one-third of the shares vest on March 1, 2019, (ii) one-third of the shares vest on March 2, 2020, and (iii) one-third of the shares vest on March 1, 2021.

General Information and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Corporate Information And Statement Of IFRS Compliance [Abstract]

Basis of accounting

All inter-company transactions, balances, income and expenses were eliminated on consolidation.

Revenue recognition

Vessel revenue is comprised of time charter revenue, voyage revenue, and pool revenue.


(1)	Pool revenue for each vessel is determined in accordance with the profit sharing terms specified within each pool agreement. In particular, the pool manager aggregates the revenues and expenses of all of the pool participants and distributes the net earnings to participants based on:


•	the pool points (vessel attributes such as cargo carrying capacity, fuel consumption, and construction characteristics are taken into consideration); and

•


(2)	Time charter revenue is recognized as services are performed based on the daily rates specified in the time charter contract.

(3)

Voyage expenses, vessel operating costs, and charterhire expense

Charterhire expense

Voyage expenses

The procurement of these services is managed on our behalf by our commercial manager, SCM (see Note 17).

Vessel operating costs

(Loss) / earnings per share

Operating leases and lease financing

Operating leases

Costs in respect of operating leases are charged to the consolidated statement of income or loss on a straight line basis over the lease term.

Lease Financing

Foreign currencies

Segment reporting

It is not practical to report revenue or non-current assets on a geographical basis due to the international nature of the shipping market.

Vessels under construction

Vessels and drydock

Business combinations and Purchase price allocation and goodwill

Business combinations

Purchase price allocation and goodwill

Impairment assessment of goodwill, vessels, drydock and vessels under construction

Impairment of vessels, drydock and vessels under construction

Inventories

Borrowing costs

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalization.

All other borrowing costs are recognized in the consolidated statement of income or loss in the period in which they are incurred.

Financial instruments

Financial assets and financial liabilities are recognized in our balance sheet when we become a party to the contractual provisions of the instrument.

Financial assets

Income is recognized on an effective interest basis for debt instruments other than those financial assets classified as at FVTPL.

Financial assets at FVTPL

Financial assets are classified as at FVTPL where the financial asset is held for trading.

A financial asset is classified as held for trading if:


•	it has been acquired principally for the purpose of selling in the near future; or


•	it is a part of an identified portfolio of financial instruments that we manage together and has a recent actual pattern of short-term profit-taking; or


•	it is a derivative that is not designated and effective as a hedging instrument.

Available-for-sale financial assets

Available for sale financial assets consisted of our investment in Dorian LPG Ltd., which was sold in July 2015.

Loans and receivables

Impairment of financial assets

Objective evidence of impairment of financial assets could include:


•	significant financial difficulty of the issuer or counterparty; or


•	default or delinquency in interest or principal payments; or


•	it becomes probable that the borrower will enter bankruptcy or financial re-organization.

Cash and cash equivalents

Restricted cash

Financial liabilities

Financial liabilities are classified as either financial liabilities at FVTPL or ‘other financial liabilities’.

Financial liabilities at FVTPL

Financial liabilities are classified as at FVTPL where the financial liability is held for trading, using the criteria set out above for financial assets.

Other financial liabilities

Effective interest method

Convertible debt instruments

Derivative financial instruments

A provision for dividends payable is recognized when the dividend has been declared in accordance with the terms of the shareholder agreement.

Restricted stock

Critical accounting judgments and key sources of estimation uncertainty

The significant judgments and estimates are as follows:

Revenue recognition

Vessel impairment

At December 31, 2017, we had 107 vessels in our fleet and two vessels under construction. The results of our impairment test were as follows:


•	Eight of our owned or financed leased vessels in our fleet had fair values less cost to sell more than their carrying amount. As such, there were no indicators of impairment for these vessels.


•	99 of our 107 owned or finance leased vessels in our fleet had fair values less costs to sell less than their carrying amount. We prepared a value in use calculation for each of these vessels which resulted in no impairment being recognized.


•	We did not obtain independent broker valuations for our two vessels under construction. To assess their carrying values for impairment, we prepared value in use calculations which resulted in no impairment being recognized.

Vessel lives and residual value

Deferred drydock cost

Adoption of new and amended IFRS and IFRIC interpretations from January 1, 2017

Standards and interpretations adopted during the period


•	Annual improvements for IFRS Standards 2014 - 2016 cycle


•	IAS 12 - Recognition of deferred tax assets for unrealized losses


•	IAS 7 - Disclosure initiative - statement of cash flows

The adoption of these standards did not have a material impact on these consolidated financial statements.

Standards and Interpretations issued and adopted in 2018

Standards and Interpretations issued yet not adopted

•All fixed lease revenue earned under these arrangements will be recognized on a straight-line basis over the term of the lease.

•Lease revenue earned under our pool arrangements will be recognized as it is earned, since it is 100% variable.

•


•	IFRIC 22 - Foreign Currency Transactions and Advance Consideration - establishes the date for which to determine the exchange rate to use on the date of initial recognition of a non-monetary prepayment asset or deferred income liability. Effective for annual periods beginning on or after January 1, 2018.


•	Amendment to IAS 40 - Investment Property - Amends IAS 40 paragraph 57 to state that an entity shall transfer a property to, or from, investment property when, and only when, there is evidence of a change in use. Effective for annual periods beginning on or after January 1, 2018.


•	Amendment to IFRS 10 and IAS 28 - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture. Clarifies the recognition of gains and losses arising on the sale or contribution of assets that constitute a business and assets do not constitute a business. The effective date is pending.

Merger with Navig8 Product Tankers Inc (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations1 [Abstract]

Purchase price allocation



In thousands of U.S. Dollars	NPTI Vessel Acquisition			September Closing
Cash and cash equivalents	$	6,180		$	15,149
Restricted cash	—			13,641
Trade receivables	3,330			16,323
Prepaid expenses and other assets	2,932			19,940
Inventories	299			1,415
Restricted cash - non-current	4,000			6,380
Vessels, net	158,500			972,750
Accounts payable and accrued expenses	(13,720		)	(2,966		)
Debt (current and non-current)	(113,856		)	(793,519		)
Redeemable Preferred Shares	—			(39,495		)
Net assets acquired and liabilities assumed	47,665			209,618
Total purchase price consideration	42,248			221,100
Provisional (bargain purchase) / goodwill	$	(5,417	)	$	11,482

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2017

Subclassifications of assets, liabilities and equities [abstract]

Summary of the components of accounts receivable

The following is a table summarizing our accounts receivable as of December 31, 2017 and 2016:



	At December 31,
In thousands of U.S. dollars	2017		2016
Scorpio MR Pool Limited	$	27,720	$	28,611
Scorpio LR2 Pool Limited	7,026		7,552
Scorpio Handymax Tanker Pool Limited	6,037		3,125
Scorpio LR1 Tanker Pool Limited	3,002		—
Scorpio Aframax Pool Limited	1,095		—
Scorpio Panamax Tanker Pool Limited	—		1,392
Receivables from the Scorpio Group Pools	44,880		40,680

Receivables from Navig8 Group Pools	14,625		—
Freight and time charter receivables	2,399		—
Insurance receivables	870		1,362
Other receivables	2,684		287
	$	65,458	$	42,329

Vessels (Tables)

12 Months Ended

Dec. 31, 2017

Property, plant and equipment [abstract]

Operating vessels and drydock rollforward

Operating vessels and drydock



In thousands of U.S. dollars		Vessels			Drydock			Total
Cost
	As of January 1, 2017	$	3,126,790		$	60,089		$	3,186,879
	Additions⁽¹⁾	333,338			12,667			346,005
	Vessels acquired in merger with NPTI ⁽²⁾	1,113,618			17,632			1,131,250
	Disposal of vessels ⁽³⁾	(184,098		)	(3,750		)	(187,848		)
	Write-offs⁽⁴⁾	—			(3,750		)	(3,750		)
	As of December 31, 2017	4,389,648			82,888			4,472,536

Accumulated depreciation and impairment
	As of January 1, 2017	(246,210		)	(27,415		)	(273,625		)
	Charge for the period	(127,369		)	(14,049		)	(141,418		)
	Disposal of vessels ⁽³⁾	25,876			2,975			28,851
	Write-offs ⁽⁴⁾	—			3,750			3,750
	As of December 31, 2017	(347,703		)	(34,739		)	(382,442		)
Net book value
	As of December 31, 2017	$	4,041,945		$	48,149		$	4,090,094

Cost
	As of January 1, 2016	$	3,188,367		$	62,039		$	3,250,406
	Additions ⁽⁵⁾	105,415			1,800			107,215
	Disposal of vessels ⁽⁶⁾	(166,992		)	(3,750		)	(170,742		)
	As of December 31, 2016	3,126,790			60,089			3,186,879

Accumulated depreciation and impairment
	As of January 1, 2016	(146,063		)	(16,590		)	(162,653		)
	Charge for the period	(109,433		)	(12,028		)	(121,461		)
	Disposal of vessels ⁽⁶⁾	9,286			1,203			10,489
	As of December 31, 2016	(246,210		)	(27,415		)	(273,625		)
Net book value
	As of December 31, 2016	$	2,880,580		$	32,674		$	2,913,254


(1)	Additions in 2017 primarily relate to the deliveries of eight newbuilding vessels and corresponding calculations of notional drydock on these vessels.


(2)	Represents the fair value of the vessels acquired in the Merger with NPTI as described in Note 2.


(3)	Represents the net book value of (i) STI Sapphire and STI Emerald, which were sold during the year ended December 31, 2017 and (ii) STI Beryl, STI Le Rocher and STI Larvotto, which were sold and leased back during the year ended December 31, 2017. These transactions are further described below.


(4)	Represents the write-off of the notional drydock costs of STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx which were drydocked in 2017.


(5)	Additions in 2016 primarily relate to the deliveries of STI Grace and STI Jermyn and the corresponding calculation of notional drydock on these vessels.


(6)	Represents the net book value of STI Chelsea, STI Lexington, STI Powai, STI Olivia and STI Mythos, which were sold during the year ended December 31, 2016.

A rollforward of activity within vessels under construction is as follows:



In thousands of U.S. dollars
Balance as of January 1, 2016	$	132,218
Installment payments and other capitalized expenses	106,034
Capitalized interest	6,274
Transferred to operating vessels and drydock	(106,609		)
Balance as of December 31, 2016	$	137,917

Installment payments and other capitalized expenses	252,977
Capitalized interest	4,194
Transferred to operating vessels and drydock	(339,712		)
Balance as of December 31, 2017	$	55,376

Schedule of vessel deliveries

We took delivery of the following newbuilding vessels during the year ended December 31, 2017 resulting in an increase of $346.0 million in Vessels from December 31, 2016:



		Month	Vessel
	Name	Delivered	Type
1	STI Selatar	February 2017	LR2
2	STI Rambla	March 2017	LR2
3	STI Galata	March 2017	MR
4	STI Bosphorus	April 2017	MR
5	STI Leblon	July 2017	MR
6	STI La Boca	July 2017	MR
7	STI San Telmo	September 2017	MR
8	STI Donald C Trauscht	October 2017	MR

We took delivery of the following newbuilding vessels during the year ended December 31, 2016 resulting in an increase of $107.2 million in Vessels from December 31, 2015:

Schedule of collateral agreements



Credit Facility		Vessel Name
2016 Credit Facility		STI Aqua
2016 Credit Facility		STI Benicia
2016 Credit Facility		STI Dama
2016 Credit Facility		STI Meraux
2016 Credit Facility		STI Opera
2016 Credit Facility		STI Regina
2016 Credit Facility		STI San Antonio
2016 Credit Facility		STI St. Charles
2016 Credit Facility		STI Texas City
2016 Credit Facility		STI Venere
2016 Credit Facility		STI Virtus
2016 Credit Facility		STI Yorkville
2017 Credit Facility		STI Bosphorus
2017 Credit Facility		STI Donald C Trauscht
2017 Credit Facility		STI Galata
2017 Credit Facility		STI La Boca
2017 Credit Facility		STI Leblon
2017 Credit Facility		STI San Telmo
ABN AMRO / K-Sure Credit Facility		STI Precision
ABN AMRO / K-Sure Credit Facility		STI Prestige
ABN AMRO Credit Facility		STI Carnaby
ABN AMRO Credit Facility		STI Kingsway
ABN AMRO Credit Facility		STI Savile Row
ABN AMRO Credit Facility		STI Spiga
BCFL Lease Financing (LR2s)		STI Solace
BCFL Lease Financing (LR2s)		STI Solidarity
BCFL Lease Financing (LR2s)		STI Stability
BCFL Lease Financing (MRs)		STI Amber
BCFL Lease Financing (MRs)		STI Garnet
BCFL Lease Financing (MRs)		STI Onyx
BCFL Lease Financing (MRs)		STI Ruby
BCFL Lease Financing (MRs)		STI Topaz
BNP Paribas Credit Facility		STI Battery
BNP Paribas Credit Facility		STI Memphis
BNP Paribas Credit Facility		STI Soho
Citi / K-Sure Credit Facility		STI Excellence



Citi / K-Sure Credit Facility		STI Executive
Citi / K-Sure Credit Facility		STI Experience
Citi / K-Sure Credit Facility		STI Express
CMB Lease Financing		STI Pride
CMB Lease Financing		STI Providence
Credit Agricole Credit Facility		STI Exceed
Credit Agricole Credit Facility		STI Excel
Credit Agricole Credit Facility		STI Excelsior
Credit Agricole Credit Facility		STI Expedite
Credit Suisse Credit Facility		STI Rambla
Credit Suisse Credit Facility		STI Selatar
CSSC Lease Financing		STI Gallantry
CSSC Lease Financing		STI Gauntlet
CSSC Lease Financing		STI Gladiator
CSSC Lease Financing		STI Goal
CSSC Lease Financing		STI Gratitude
CSSC Lease Financing		STI Guard
CSSC Lease Financing		STI Guide
CSSC Lease Financing		STI Nautilus
DVB 2017 Credit Facility		STI Alexis
DVB 2017 Credit Facility		STI Milwaukee
DVB 2017 Credit Facility		STI Seneca
DVB 2017 Credit Facility		STI Wembley
HSH Credit Facility		STI Duchessa
ING Credit Facility		STI Black Hawk
ING Credit Facility		STI Grace
ING Credit Facility		STI Jermyn
ING Credit Facility		STI Lombard
ING Credit Facility		STI Osceola
ING Credit Facility		STI Pontiac
KEXIM Credit Facility		STI Acton
KEXIM Credit Facility		STI Brixton
KEXIM Credit Facility		STI Broadway
KEXIM Credit Facility		STI Camden
KEXIM Credit Facility		STI Clapham
KEXIM Credit Facility		STI Comandante
KEXIM Credit Facility		STI Condotti
KEXIM Credit Facility		STI Elysees
KEXIM Credit Facility		STI Finchley
KEXIM Credit Facility		STI Fulham
KEXIM Credit Facility		STI Hackney
KEXIM Credit Facility		STI Madison
KEXIM Credit Facility		STI Orchard
KEXIM Credit Facility		STI Park
KEXIM Credit Facility		STI Pimlico
KEXIM Credit Facility		STI Poplar



KEXIM Credit Facility		STI Sloane
KEXIM Credit Facility		STI Veneto
K-Sure Credit Facility		STI Battersea
K-Sure Credit Facility		STI Bronx
K-Sure Credit Facility		STI Brooklyn
K-Sure Credit Facility		STI Connaught
K-Sure Credit Facility		STI Gramercy
K-Sure Credit Facility		STI Hammersmith
K-Sure Credit Facility		STI Lauren
K-Sure Credit Facility		STI Manhattan
K-Sure Credit Facility		STI Mayfair
K-Sure Credit Facility		STI Notting Hill
K-Sure Credit Facility		STI Oxford
K-Sure Credit Facility		STI Queens
K-Sure Credit Facility		STI Rotherhithe
K-Sure Credit Facility		STI Tribeca
K-Sure Credit Facility		STI Westminster
K-Sure Credit Facility		STI Winnie
NIBC Credit Facility		STI Fontvieille
NIBC Credit Facility		STI Ville
Ocean Yield Lease Financing		STI Sanctity
Ocean Yield Lease Financing		STI Steadfast
Ocean Yield Lease Financing		STI Supreme
Ocean Yield Lease Financing		STI Symphony
Scotiabank Credit Facility		STI Rose

Vessels Under Construction (Tables)

12 Months Ended

Dec. 31, 2017

Property, plant and equipment [abstract]

Rollforward of activity within vessels under construction

Operating vessels and drydock



In thousands of U.S. dollars		Vessels			Drydock			Total
Cost
	As of January 1, 2017	$	3,126,790		$	60,089		$	3,186,879
	Additions⁽¹⁾	333,338			12,667			346,005
	Vessels acquired in merger with NPTI ⁽²⁾	1,113,618			17,632			1,131,250
	Disposal of vessels ⁽³⁾	(184,098		)	(3,750		)	(187,848		)
	Write-offs⁽⁴⁾	—			(3,750		)	(3,750		)
	As of December 31, 2017	4,389,648			82,888			4,472,536

Accumulated depreciation and impairment
	As of January 1, 2017	(246,210		)	(27,415		)	(273,625		)
	Charge for the period	(127,369		)	(14,049		)	(141,418		)
	Disposal of vessels ⁽³⁾	25,876			2,975			28,851
	Write-offs ⁽⁴⁾	—			3,750			3,750
	As of December 31, 2017	(347,703		)	(34,739		)	(382,442		)
Net book value
	As of December 31, 2017	$	4,041,945		$	48,149		$	4,090,094

Cost
	As of January 1, 2016	$	3,188,367		$	62,039		$	3,250,406
	Additions ⁽⁵⁾	105,415			1,800			107,215
	Disposal of vessels ⁽⁶⁾	(166,992		)	(3,750		)	(170,742		)
	As of December 31, 2016	3,126,790			60,089			3,186,879

Accumulated depreciation and impairment
	As of January 1, 2016	(146,063		)	(16,590		)	(162,653		)
	Charge for the period	(109,433		)	(12,028		)	(121,461		)
	Disposal of vessels ⁽⁶⁾	9,286			1,203			10,489
	As of December 31, 2016	(246,210		)	(27,415		)	(273,625		)
Net book value
	As of December 31, 2016	$	2,880,580		$	32,674		$	2,913,254


(1)	Additions in 2017 primarily relate to the deliveries of eight newbuilding vessels and corresponding calculations of notional drydock on these vessels.


(2)	Represents the fair value of the vessels acquired in the Merger with NPTI as described in Note 2.


(3)	Represents the net book value of (i) STI Sapphire and STI Emerald, which were sold during the year ended December 31, 2017 and (ii) STI Beryl, STI Le Rocher and STI Larvotto, which were sold and leased back during the year ended December 31, 2017. These transactions are further described below.


(4)	Represents the write-off of the notional drydock costs of STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx which were drydocked in 2017.


(5)	Additions in 2016 primarily relate to the deliveries of STI Grace and STI Jermyn and the corresponding calculation of notional drydock on these vessels.


(6)	Represents the net book value of STI Chelsea, STI Lexington, STI Powai, STI Olivia and STI Mythos, which were sold during the year ended December 31, 2016.

A rollforward of activity within vessels under construction is as follows:



In thousands of U.S. dollars
Balance as of January 1, 2016	$	132,218
Installment payments and other capitalized expenses	106,034
Capitalized interest	6,274
Transferred to operating vessels and drydock	(106,609		)
Balance as of December 31, 2016	$	137,917

Installment payments and other capitalized expenses	252,977
Capitalized interest	4,194
Transferred to operating vessels and drydock	(339,712		)
Balance as of December 31, 2017	$	55,376

Other Non-Current Assets (Tables)

12 Months Ended

Dec. 31, 2017

Subclassifications of assets, liabilities and equities [abstract]

Schedule of other non-current assets



	At December 31,
In thousands of U.S. dollars	2017		2016
Scorpio LR2 Tanker Pool Ltd. pool working capital contributions ⁽¹⁾	$	28,050	$	13,600
Scorpio Handymax Tanker Pool Ltd. pool working capital contributions ⁽²⁾	6,751		5,617
Scorpio LR1 Tanker Pool Ltd. pool working capital contributions⁽¹⁾	6,600		—
Working capital contributions to Scorpio Group Pools	41,401		19,217

Sellers credit on lease financed vessels ⁽³⁾	8,581		—
Capitalized loan fees⁽⁴⁾	582		2,278
Other	120		—
	$	50,684	$	21,495

(1)

(2)

(3)


(4)	Primarily represents upfront loan fees on our credit facilities that are expected to be used to finance newbuilding vessels. These are reclassified to Debt when the tranche of the loan to which the vessel relates is drawn.

Current and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Schedule of Detailed Information about Current and Long-term Debt

The following is a breakdown of the current and non-current portion of our debt outstanding as of December 31, 2017 and December 31, 2016:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Current portion ⁽¹⁾	$	113,036	$	353,012
Finance lease ⁽²⁾	50,146		—
Current portion of long-term debt	163,182		353,012

Non-current portion ⁽³⁾	1,937,018		1,529,669
Finance lease ⁽⁴⁾	666,993		—
	$	2,767,193	$	1,882,681


(1)	The current portion at December 31, 2017 was net of unamortized deferred financing fees of $1.7 million. The current portion at December 31, 2016 was net of unamortized deferred financing fees of $4.3 million.


(2)	The current portion at December 31, 2017 was net of unamortized deferred financing fees of $0.1 million.


(3)	The non-current portion at December 31, 2017 was net of unamortized deferred financing fees of $33.4 million. The non-current portion at December 31, 2016 was net of unamortized deferred financing fees of $33.1 million.


(4)	The non-current portion at December 31, 2017 was net of unamortized deferred financing fees of $1.1 million.

The minimum threshold for the aggregate fair market value of the vessels as a percentage of the then aggregate principal amount in the facility shall at all times be no less than the following:



From	To	Minimum ratio
01-Jan-16	31-Dec-16	165	%
01-Jan-17	31-Dec-17	160	%
01-Jan-18	31-Dec-18	155	%
01-Jan-19	31-Dec-19	150	%
01-Jan-20	Thereafter	145	%



	As of December 31, 2017
In thousands of U.S. dollars	Current			Non-Current			Total outstanding			Available
K-Sure Credit Facility	$	2,757		$	237,162		$	239,919		$	—
KEXIM Credit Facility	33,650			299,300			332,950			—
Credit Suisse Credit Facility	1,945			51,543			53,488			—
ABN AMRO Credit Facility	8,887			104,425			113,312			—
ING Credit Facility	3,388			106,456			109,844			—
BNP Paribas Credit Facility	3,450			39,100			42,550			—
Scotiabank Credit Facility	1,110			27,750			28,860			—
NIBC Credit Facility	2,849			31,863			34,712			—
2016 Credit Facility	20,376			175,603			195,979			—
2017 Credit Facility	11,561			130,253			141,814			21,450		⁽¹⁾
HSH Credit Facility	1,592			13,824			15,416			—
DVB 2017 Credit Facility	5,920			72,520			78,440			—
Credit Agricole Credit Facility	7,703			96,211			103,914			—
ABN / K-Sure Credit Facility	3,076			46,832			49,908			—
Citi / K-Sure Credit Facility	6,443			97,609			104,052			—
Ocean Yield Lease Financing	10,263			158,753			169,016			—
CMBFL Lease Financing	4,717			61,198			65,915			—
BCFL Lease Financing (LR2s)	6,742			97,445			104,187			—
CSSC Lease Financing	18,134			251,831			269,965			—
BCFL Lease Financing (MRs)	10,401			98,831			109,232			—
Senior Notes Due 2020	—			53,750			53,750			—
Senior Notes Due 2019	—			57,500			57,500			—
Convertible Notes	—			328,717			328,717			—
	164,964			2,638,476			2,803,440			21,450
Less: deferred financing fees	(1,782		)	(34,465		)	(36,247		)	—
	$	163,182		$	2,604,011		$	2,767,193		$	21,450


(1)	Availability can be used to finance the lesser of 60% of the contract price and 60% of the fair market value of the vessel that was collateralized under this facility in January 2018, STI Jardins. This amount was drawn when this vessel was delivered in January 2018.

The drawdowns are summarized as follows:



Drawdown amount
(in millions of U.S. dollars)		Drawdown date	Collateral
$	28.3	April 2017	STI Alexis
18.9		April 2017	STI Seneca
17.9		April 2017	STI Milwaukee
16.3		April 2017	STI Wembley

During the year ended December 31, 2017, we made the following drawdowns to partially finance the purchase of seven newbuilding MRs:



Drawdown amount
(in millions of U.S. dollars)		Drawdown date	Collateral
$	20.4	March 2017	STI Galata
20.4		April 2017	STI Bosphorus
21.0		June 2017	STI Leblon
21.0		July 2017	STI La Boca
20.6		September 2017	STI San Telmo
20.7		October 2017	STI Donald C Trauscht
21.5		December 2017	STI Esles II

The table below details the dividends declared from the issuance of the Convertible Notes through December 31, 2017 and their corresponding effect to the conversion rate of the Convertible Notes. The conversion rate as of December 31, 2017 was 98.7742.



Record Date	Dividends per share		Share Adjusted Conversion Rate⁽¹⁾
August 22, 2014	$	0.100	82.8556
November 25, 2014	$	0.120	84.0184
March 13, 2015	$	0.120	85.2216
May 21, 2015	$	0.125	86.3738
August 14, 2015	$	0.125	87.4349
November 24, 2015	$	0.125	88.6790
March 10, 2016	$	0.125	90.5311
May 11, 2016	$	0.125	92.5323
September 15, 2016	$	0.125	94.9345
November 25, 2016	$	0.125	97.7039
February 23, 2017	$	0.010	97.9316
May 11, 2017	$	0.010	98.1588
September 25, 2017	$	0.010	98.4450
December 13, 2017	$	0.010	98.7742
⁽¹⁾ Per $1,000 principal amount.

In February 2017, we refinanced the outstanding indebtedness related to STI Duchessa and STI Onyx by repaying an aggregate of $23.7 million on our 2011 Credit Facility and drawing down an aggregate of $31.1 million from this facility as follows:

The minimum threshold for the aggregate fair market value of the vessels as a percentage of the then aggregate principal amount of the facility shall at all times be no less than the following:



From	To	Minimum ratio
01-Jan-16	31-Dec-16	165	%
01-Jan-17	31-Dec-17	160	%
01-Jan-18	31-Dec-18	155	%
01-Jan-19	31-Dec-19	150	%
01-Jan-20	Thereafter	145	%

The following table depicts the indebtedness assumed as part of the NPTI Vessel Acquisition and Merger. The terms and conditions of each of these facilities are described below.



In thousands of U.S. dollars	Balance assumed from NPTI ⁽¹⁾		Fair value adjustments ⁽²⁾			Opening balance sheet fair value		Scheduled repayments			Other repayments				Accretion / (amortization) of fair value adjustments ⁽³⁾			Carrying Value at December 31, 2017
Credit Agricole Credit Facility	$	118,289	$	(4,433	)	$	113,856	$	(4,284	)	$	(6,142	)	⁽⁴⁾	$	484		$	103,914
ABN AMRO/K-Sure Credit Facility	55,307		(3,739		)	51,568		(1,926		)	—				266			49,908
Citi/K-Sure Credit Facility	116,274		(8,690		)	107,584		(4,208		)	—				676			104,052
Ocean Yield Lease Financing	174,180		(1,774		)	172,406		(3,459		)	—				69			169,016
CMBFL Lease Financing	69,333		(1,029		)	68,304		(2,454		)	—				65			65,915
BCFL Lease Financing (LR2s)	110,559		(4,136		)	106,423		(2,439		)	—				203			104,187
CSSC Lease Financing	280,819		6,415			287,234		(6,071		)	(10,913		)	⁽⁵⁾	(285		)	269,965
	$	924,761	$	(17,386	)	$	907,375	$	(24,841	)	$	(17,055	)		$	1,478		$	866,957

The aggregate of the FMV of the vessels provided as collateral under the facility shall at all times be no less than the following percentage of the then aggregate outstanding principal amount of the loans under the credit facility.



From	To	Minimum ratio
29-Feb-16	31-Mar-19	155	%
1-Apr-19	31-Mar-20	150	%
1-Apr-20	Thereafter	145	%



From	To	Minimum ratio
3-Aug-17	31-Dec-17	160	%
1-Jan-18	31-Dec-18	155	%
1-Jan-19	31-Dec-19	150	%
1-Jan-20	Thereafter	145	%

The following is a rollforward of the activity within debt (current and non-current), by facility, for the year ended December 31, 2017:



			Activity
In thousands of U.S. dollars	Outstanding balance as of December 31, 2016		Drawdowns		Debt assumed from NPTI ⁽¹⁾		Repayments			Other Activity⁽²⁾				Outstanding balance as of December 31, 2017
2011 Credit Facility	$	93,041	$	—	$	—	$	(93,041	)	$	—			$	—
K-Sure Credit Facility	314,032		—		—		(74,113		)	—				239,919
KEXIM Credit Facility	366,600		—		—		(33,650		)	—				332,950
Credit Suisse Credit Facility	—		58,350		—		(4,862		)	—				53,488
ABN AMRO Credit Facility	126,350		—		—		(13,038		)	—				113,312
ING Credit Facility	124,290		—		—		(14,446		)	—				109,844
BNP Paribas Credit Facility	32,200		40,825		—		(30,475		)	—				42,550
Scotiabank Credit Facility	32,190		—		—		(3,330		)	—				28,860
NIBC Credit Facility	39,817		—		—		(5,105		)	—				34,712
2016 Credit Facility	281,184		—		—		(85,205		)	—				195,979
DVB 2016 Credit Facility	88,375		—		—		(88,375		)	—				—
2017 Credit Facility	—		145,500		—		(3,686		)	—				141,814
HSH Credit Facility	—		31,125		—		(15,709		)	—				15,416
DVB 2017 Credit Facility	—		81,400		—		(2,960		)	—				78,440
Credit Agricole Credit Facility	—		—		113,856		(4,284		)	(5,658		)	⁽³⁾	103,914
ABN / K-Sure Credit Facility	—		—		51,568		(1,926		)	266				49,908
Citi / K-Sure Credit Facility	—		—		107,584		(4,208		)	676				104,052
Ocean Yield Lease Financing	—		—		172,406		(3,459		)	69				169,016
CMBFL Lease Financing	—		—		68,304		(2,454		)	65				65,915
BCFL Lease Financing (LR2s)	—		—		106,423		(2,439		)	203				104,187
CSSC Lease Financing	—		—		287,234		(6,071		)	(11,198		)	⁽⁴⁾	269,965
BCFL Lease Financing (MRs)	—		110,942		—		(1,710		)	—				109,232
Unsecured Senior Notes Due 2020	53,750		—		—		—			—				53,750
Unsecured Senior Notes Due 2017	51,750		—		—		(51,750		)	—				—
Unsecured Senior Notes Due 2019	—		57,500		—		—			—				57,500
Convertible Notes	316,507		—		—		—			12,210				328,717
	$	1,920,086	$	525,642	$	907,375	$	(546,296	)	$	(3,367	)		$	2,803,440

⁽¹⁾These amounts represent the opening balance sheet fair value of the indebtedness assumed from NPTI.

We made the following drawdowns from our Credit Suisse Credit Facility during the year ended December 31, 2017:

Financial expenses consist of:



	For the year ended December 31,
In thousands of U.S. dollars	2017		2016		2015
Interest payable on debt ⁽¹⁾	$	86,703	$	63,858	$	61,082
Amortization of deferred financing fees	13,381		14,149		14,688
Write-off of deferred financing fees ⁽²⁾	2,467		14,479		2,730
Accretion of Convertible Notes (as described in Note 13)	12,211		11,562		11,096
Accretion of premiums and discounts on assumed debt⁽³⁾	1,478		—		—
Total financial expenses	$	116,240	$	104,048	$	89,596

(1)

(2)


(3)	The accretion of premiums and discounts represent the accretion or amortization of the fair value adjustments relating to the indebtedness assumed from NPTI that have been recorded since the closing dates of the NPTI Vessel Acquisition and the September Closing. These premiums or discounts are described in Note 13.

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Schedule of Realized and Unrealized Gains or Losses on Financial Instruments

The following has been recorded as realized and unrealized gains or losses on our derivative financial instruments during the years ended December 31, 2017, 2016 and 2015:



	Fair value adjustments
	Statement of income
Amounts in thousands of U.S. dollars	Realized (loss) / gain			Unrealized gain / (loss)			Recognized in equity

Profit and loss agreement	$	(116	)	$	—		$	—

Total year ended December 31, 2017	$	(116	)	$	—		$	—

Profit and loss agreement	$	—		$	1,371		$	—

Total year ended December 31, 2016	$	—		$	1,371		$	—

Profit and loss agreement	$	—		$	(1,255	)	$	—
Interest rate swaps	55			—			77

Total year ended December 31, 2015	$	55		$	(1,255	)	$	77

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2017

Operating Segments [Abstract]

Disclosure of operating segments

Information about our reportable segments for the years ended December 31, 2017, 2016 and 2015 is as follows:

For the year ended December 31, 2017



In thousands of U.S. dollars	LR1/Panamax			Handymax			LR2			MR			Reportable segments subtotal			Corporate and eliminations			Total
Vessel revenue	$	22,573		$	95,098		$	157,123		$	237,938		$	512,732		$	—		$	512,732
Vessel operating costs	(12,561		)	(50,145		)	(67,254		)	(101,267		)	(231,227		)	—			(231,227		)
Voyage expenses	(1,018		)	(3,087		)	(2,642		)	(986		)	(7,733		)	—			(7,733		)
Charterhire	(2,230		)	(24,560		)	(6,258		)	(42,702		)	(75,750		)	—			(75,750		)
Depreciation	(7,828		)	(18,159		)	(54,922		)	(60,509		)	(141,418		)	—			(141,418		)
General and administrative expenses	(479		)	(2,170		)	(2,805		)	(4,569		)	(10,023		)	(37,488		)	(47,511		)
Loss on sales of vessels	—			—			—			(23,345		)	(23,345		)	—			(23,345		)
Merger transaction related costs	—			—			—			—			—			(36,114		)	(36,114		)
Bargain purchase gain	—			—			—			—			—			5,417			5,417
Financial expenses	—			—			—			—			—			(116,240		)	(116,240		)
Realized loss on derivative financial instruments	—			—			(116		)	—			(116		)	—			(116		)
Financial income	26			214			15			338			593			945			1,538
Other expenses, net	—			1,876			—			—			1,876			(349		)	1,527
Segment income or loss	$	(1,517	)	$	(933	)	$	23,141		$	4,898		$	25,589		$	(183,829	)	$	(158,240	)

For the year ended December 31, 2016



In thousands of U.S. dollars	LR1/Panamax			Handymax			LR2			MR			Reportable segments subtotal			Corporate and eliminations			Total

Vessel revenue	$	5,843		$	85,578		$	165,256		$	265,020		$	521,697		$	1,050		$	522,747
Vessel operating costs	(33		)	(32,817		)	(50,028		)	(104,242		)	(187,120		)	—			(187,120		)
Voyage expenses	(19		)	(479		)	(375		)	(705		)	(1,578		)	—			(1,578		)
Charterhire	(5,657		)	(26,292		)	(16,025		)	(30,888		)	(78,862		)	—			(78,862		)
Depreciation	—			(18,014		)	(41,900		)	(61,547		)	(121,461		)	—			(121,461		)
General and administrative expenses	(7		)	(1,410		)	(1,983		)	(4,485		)	(7,885		)	(47,014		)	(54,899		)
Loss on sales of vessels	—			—			—			(2,078		)	(2,078		)	—			(2,078		)
Financial expenses	—			—			—			—			—			(104,048		)	(104,048		)
Unrealized gain on derivative financial instruments	—			—			1,371			—			1,371			—			1,371
Financial income	—			6			37			47			90			1,123			1,213
Other expenses, net	—			—			—			(9		)	(9		)	(179		)	(188		)
Segment income or loss	$	127		$	6,572		$	56,353		$	61,113		$	124,165		$	(149,068	)	$	(24,903	)

For the year ended December 31, 2015



In thousands of U.S. dollars	LR1/Panamax			Handymax			LR2			MR			Reportable segments subtotal			Corporate and eliminations			Total
Vessel revenue	$	36,679		$	142,429		$	208,250		$	368,203		$	755,561		$	150		$	755,711
Vessel operating costs	(2,144		)	(35,254		)	(36,682		)	(100,476		)	(174,556		)	—			(174,556		)
Voyage expenses	(1,186		)	(536		)	(194		)	(2,516		)	(4,432		)	—			(4,432		)
Charterhire	(21,616		)	(26,755		)	(27,816		)	(20,678		)	(96,865		)	—			(96,865		)
Depreciation	—			(18,372		)	(29,125		)	(59,859		)	(107,356		)	—			(107,356		)
General and administrative expenses	(96		)	(1,390		)	(1,456		)	(4,329		)	(7,271		)	(58,560		)	(65,831		)
Gain / (loss) from sales of vessels	2,019			(2,054		)	—			—			(35		)	—			(35		)
Write-off of vessel purchase options	—			—			—			(731		)	(731		)	—			(731		)
Gain on sale of Dorian shares	—			—			—			—			—			1,179			1,179
Financial expenses	—			—			—			—			—			(89,596		)	(89,596		)
Realized gain on derivative financial instruments	—			—			—			—			—			55			55
Unrealized loss on derivative financial instruments	—			—			(1,255		)	—			(1,255		)	—			(1,255		)
Financial income	—			7			12			27			46			99			145
Other expenses, net	1,397			—			—			(20		)	1,377			(61		)	1,316
Segment income or loss	$	15,053		$	58,075		$	111,734		$	179,621		$	364,483		$	(146,734	)	$	217,749

Disclosure of revenue from major customers

Revenue from customers representing greater than 10% of total revenue during the years ended December 31, 2017, 2016 and 2015, within their respective segments was as follows:



In thousands of U.S. dollars		For the year ended December 31,
Segment	Customer	2017		2016		2015
MR	Scorpio MR Pool Limited ⁽¹⁾	$	217,141	$	248,974	$	315,925
LR2	Scorpio LR2 Pool Limited ⁽¹⁾	136,514		156,503		208,132
Handymax	Scorpio Handymax Tanker Pool Limited ⁽¹⁾	78,510		73,683		138,736
Panamax	Scorpio Panamax Tanker Pool Limited⁽¹⁾	1,515		5,843		34,613
		$	433,680	$	485,003	$	697,406


(1)	These customers are related parties as described in Note 17.

Common Shares (Tables)

12 Months Ended

Dec. 31, 2017

Share-Based Payment Arrangements [Abstract]

Summary of vesting schedule of restricted stock

The vesting schedule of the restricted stock issued to our employees is as follows:



Number of restricted shares		Vesting date
360,439		September 5, 2019
670,262		March 2, 2020
1,258,576		June 1, 2020
1,395,762		September 4, 2020
670,262		March 1, 2021
1,258,576		June 1, 2021
1,395,762		September 3, 2021
670,259		March 1, 2022
1,258,578		June 1, 2022
1,035,323		September 2, 2022
9,973,799

The vesting schedule of the restricted stock issued to our employees is as follows:



Number of restricted shares		Vesting date
1,235,186		September 4, 2020
217,502		November 4, 2020
214,794		March 1, 2021
1,235,186		September 3, 2021
217,502		November 5, 2021
214,794		March 1, 2022
1,235,187		September 2, 2022
217,502		November 4, 2022
214,795		March 1, 2023
5,002,448

Summary of activity for awards of restricted stock

The following is a summary of activity for awards of restricted stock during the years ended December 31, 2017 and 2016:



		Number of Shares		Weighted Average Grant Date Fair Value
Outstanding and non-vested, December 31, 2015		13,611,270		$	9.32
	Granted	2,301,115		4.74
	Vested	(3,248,800	)	9.19
	Forfeited	(50,000	)	7.80
Outstanding and non-vested, December 31, 2016		12,613,585		8.52
	Granted	10,922,799		3.09
	Vested	(4,236,973	)	8.99
	Forfeited	(45,000	)	7.59
Outstanding and non-vested, December 31, 2017		19,254,411		$	5.34

Summary of future stock compensation expense

Assuming that all the restricted stock will vest, the stock compensation expense in future periods, including that related to restricted stock issued in prior periods will be:



In thousands of U.S. dollars	Employees		Directors		Total
For the year ending December 31, 2018	$	20,919	$	1,137	$	22,056
For the year ending December 31, 2019	14,146		465		14,611
For the year ending December 31, 2020	8,584		153		8,737
For the year ending December 31, 2021	3,779		—		3,779
For the year ending December 31, 2022	927		—		927
	$	48,355	$	1,755	$	50,110

Summary of dividend payments

The following dividends were paid during the years ended December 31, 2017, 2016 and 2015.



Dividends		Date
per share		Paid
$0.120		March 30, 2015
$0.125		June 10, 2015
$0.125		September 4, 2015
$0.125		December 11, 2015
$0.125		March 30, 2016
$0.125		June 24, 2016
$0.125		September 29, 2016
$0.125		December 22, 2016
$0.010		March 30, 2017
$0.010		June 14, 2017
$0.010		September 29, 2017
$0.010		December 28, 2017

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2017

Related Party [Abstract]

Disclosure of transactions between related parties

The table below shows key management remuneration for the years ended December 31, 2017, 2016 and 2015:



	For the year ended December 31,
In thousands of U.S. dollars	2017		2016		2015
Short-term employee benefits (salaries)	$	6,614	$	8,786	$	15,601
Share-based compensation ⁽¹⁾	19,113		25,575		26,911
Total	$	25,727	$	34,361	$	42,512


⁽¹⁾	Represents the amortization of restricted stock issued under our equity incentive plans as described in Note 16.

Transactions with entities controlled by the Lolli-Ghetti family (herein referred to as related party affiliates) in the consolidated statement of income or loss and balance sheet are as follows:



	For the year ended December 31,
In thousands of U.S. dollars	2017			2016			2015
Pool revenue⁽¹⁾
Scorpio MR Pool Limited	$	217,141		$	248,974		$	315,925
Scorpio LR2 Pool Limited	136,514			156,503			208,132
Scorpio Handymax Tanker Pool Limited	78,510			73,683			138,736
Scorpio LR1 Tanker Pool Limited	13,895			—			—
Scorpio Panamax Tanker Pool Limited	1,515			5,843			34,613
Scorpio Aframax Tanker Pool Limited	1,170			—			—
Voyage expenses⁽²⁾	(1,786		)	(1,128		)	(2,127		)
Vessel operating costs⁽³⁾	(22,909		)	(19,484		)	(18,393		)
Administrative expenses⁽⁴⁾	(10,744		)	(9,462		)	(7,950		)

(1)

(2)

(3)

(4)

•

We had the following balances with related party affiliates, which have been included in the consolidated balance sheets:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Assets:
Accounts receivable (due from the Scorpio Group Pools) ⁽¹⁾	$	44,880	$	40,680
Accounts receivable and prepaid expenses (SSM) ⁽²⁾	6,391		4,233
Other assets (pool working capital contributions) ⁽³⁾	41,401		19,217
Liabilities:
Accounts payable and accrued expenses (SSM)	766		653
Accounts payable and accrued expenses (owed to the Scorpio Group Pools)	462		15
Accounts payable and accrued expenses (SCM)	191		53
Accounts payable and accrued expenses (SSH)	190		90

(1)

•


•	For vessels in the Scorpio MR Pool and Scorpio Panamax Tanker Pool, any contributions are repaid, without interest, when such vessel has earned sufficient net revenues to cover the value of such working capital contributed. Accordingly, we classify such amounts as current (within accounts receivable).

•


(2)	Accounts receivable and prepaid expenses from SSM relate to advances made for vessel operating expenses (such as crew wages) that will either be reimbursed or applied against future costs.

(3) Represents the non-current portion of working capital receivables as described above.

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2017

Leases 1 [Abstract]

Schedule of operating leases and future minimum lease payments

The obligations under these agreements will be repaid as follows:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Less than 1 year	$	52,532	$	57,018
1 - 5 years	42,839		30,933
5+ years	22,264		—
Total	$	117,635	$	87,951

The following table depicts our time or bareboat chartered-in vessel commitments during the year ended December 31, 2017:

Name

Year built

Vessel class

Charter type

Delivery⁽¹⁾

Charter Expiration

Rate ($/ day)

Active as of December 31, 2017

Kraslava

2007

Handymax

Time Charter

January-11

May-18

11,250

⁽²⁾

Krisjanis Valdemars

2007

Handymax

Time Charter

February-11

March-18

11,250

⁽³⁾

Silent

2007

Handymax

Bareboat

January-17

March-19

7,500

⁽⁴⁾

Single

2007

Handymax

Bareboat

January-17

March-19

7,500

⁽⁴⁾

Star I

2007

Handymax

Bareboat

January-17

March-19

7,500

⁽⁴⁾

Steel

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

Sky

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

Stone I

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

Style

2008

Handymax

Bareboat

January-17

March-19

6,000

⁽⁵⁾

STI Beryl

2013

Bareboat

April-17

April-25

8,800

⁽⁶⁾

STI Le Rocher

2013

Bareboat

April-17

April-25

8,800

⁽⁶⁾

STI Larvotto

2013

Bareboat

April-17

April-25

8,800

⁽⁶⁾

Vukovar

2015

Time Charter

May-15

May-18

17,034

Zefyros

2013

Time Charter

July-16

June-18

13,250

⁽⁷⁾

Gan-Trust

2013

Time Charter

January-13

January-19

13,050

⁽⁸⁾

CPO New Zealand

2011

Time Charter

September-16

September-18

15,250

⁽⁹⁾

CPO Australia

2011

Time Charter

September-16

September-18

15,250

⁽⁹⁾

Ance

2006

Time Charter

October-16

October-18

13,500

⁽¹⁰⁾

Densa Crocodile

2015

LR2

Time Charter

June-17

July-18

14,750

⁽¹¹⁾

Time or bareboat charters that expired in 2017

Densa Crocodile

2015

LR2

Time Charter

February-15

January-17

22,600

Miss Mariarosaria

2011

Time Charter

May-15

May-17

16,350

Targale

2007

Time Charter

May-12

May-17

16,200

Hellespont Progress

2006

LR1

Time Charter

March-14

May-17

17,250

Densa Alligator

2013

LR2

Time Charter

September-13

September-17

14,360



(1)	Represents delivery date or estimated delivery date.
(2)	In February 2017, we entered into a new time charter-in agreement for one year at $11,250 per day effective May 2017. We have an option to extend the charter for an additional year at $13,250 per day.
(3)	In February 2017, we entered into a new time charter-in agreement for one year at $11,250 per day effective March 2017. We have an option to extend the charter for an additional year at $13,250 per day.
(4)	In December 2016, we entered into an agreement to cancel the time charter agreement for this vessel and enter into a new bareboat charter agreement. The time charter-in contract was cancelled in January 2017 and replaced by the new bareboat contract at a rate of $7,500 per day. The agreement includes a purchase option which can be exercised through December 31, 2018. If the purchase option is not exercised, the bareboat-in agreement will expire on March 31, 2019.
(5)	In December 2016, we entered into an agreement to bareboat-in this vessel at a rate of $6,000 per day. The agreement includes a purchase option which can be exercised through December 31, 2018. If the purchase option is not exercised, the bareboat-in agreement will expire on March 31, 2019.
(6)	In April 2017, we sold and leased back this vessel, on a bareboat basis, for a period of up to eight years for $8,800 per day. The sales price was $29.0 million and we have the option to purchase this vessel beginning at the end of the fifth year of the agreement through the end of the eighth year of the agreement, at market based prices. Additionally, a deposit of $4.35 million was retained by the buyer and will either be applied to the purchase price of the vessel if a purchase option is exercised, or refunded to us at the expiration of the agreement.
(7)	In November 2017, we declared the option to extend the time charter-in agreement for an additional six months at $13,250 per day effective December 2017. We have an option to extend the charter for an additional year at $14,500 per day.
(8)	In November 2017, we extended the time charter-in agreement for one year at $13,950 per day effective January 2018. We have an option to extend the charter for an additional year at $15,750 per day.
(9)	We have an option to extend the charter for an additional year at $16,000 per day.
(10)	In August 2017, we entered into a new time charter-in agreement for one year at $13,500 per day. We have an option to extend the charter for an additional year at $15,000 per day.
(11)	In November 2017, we declared the option to extend this time charter for an additional six months at $15,750 per day effective January 2018.

Schedule of operating leases by lessor

The future minimum payments due to us under these non-cancellable leases are set forth below. These minimum payments are shown net of address commissions, which are deducted upon payment.




	As of December 31,
In thousands of U.S. dollars	2017		2016
Less than 1 year	$	35,992	$	37,472
1 - 5 years	2,176		38,168
5+ years	—		—
Total	$	38,168	$	75,640

The following table summarizes the terms of our time chartered-out vessels that were in place during the years ended December 31, 2017 and 2016.



	Name	Year built	Type	Delivery Date to the Charterer	Charter Expiration		Rate ($/ day)
1	STI Pimlico	2014	Handymax	February-16	February-19	⁽¹⁾	$	18,000
2	STI Poplar	2014	Handymax	January-16	January-19	⁽¹⁾	$	18,000
3	STI Notting Hill	2015	MR	November-15	November-18	⁽²⁾	$	20,500
4	STI Westminster	2015	MR	December-15	December-18	⁽²⁾	$	20,500
5	STI Rose	2015	LR2	February-16	February-19	⁽²⁾	$	28,000
6	STI Texas City	2014	MR	March-14	April-16		$	16,000	⁽³⁾

⁽¹⁾Redelivery is plus 30 days or minus 10 days from the expiry date.

⁽²⁾Redelivery is plus or minus 30 days from the expiry date.

⁽³⁾The charter had a 50% profit sharing provision whereby we received 50% of the vessel's profits above the daily base rate from the charterer.

Financial Expenses (Tables)

12 Months Ended

Dec. 31, 2017

Analysis of income and expense [abstract]

Schedule of Financial Expenses

The following is a breakdown of the current and non-current portion of our debt outstanding as of December 31, 2017 and December 31, 2016:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Current portion ⁽¹⁾	$	113,036	$	353,012
Finance lease ⁽²⁾	50,146		—
Current portion of long-term debt	163,182		353,012

Non-current portion ⁽³⁾	1,937,018		1,529,669
Finance lease ⁽⁴⁾	666,993		—
	$	2,767,193	$	1,882,681


(1)	The current portion at December 31, 2017 was net of unamortized deferred financing fees of $1.7 million. The current portion at December 31, 2016 was net of unamortized deferred financing fees of $4.3 million.


(2)	The current portion at December 31, 2017 was net of unamortized deferred financing fees of $0.1 million.


(3)	The non-current portion at December 31, 2017 was net of unamortized deferred financing fees of $33.4 million. The non-current portion at December 31, 2016 was net of unamortized deferred financing fees of $33.1 million.


(4)	The non-current portion at December 31, 2017 was net of unamortized deferred financing fees of $1.1 million.

The minimum threshold for the aggregate fair market value of the vessels as a percentage of the then aggregate principal amount in the facility shall at all times be no less than the following:



From	To	Minimum ratio
01-Jan-16	31-Dec-16	165	%
01-Jan-17	31-Dec-17	160	%
01-Jan-18	31-Dec-18	155	%
01-Jan-19	31-Dec-19	150	%
01-Jan-20	Thereafter	145	%



	As of December 31, 2017
In thousands of U.S. dollars	Current			Non-Current			Total outstanding			Available
K-Sure Credit Facility	$	2,757		$	237,162		$	239,919		$	—
KEXIM Credit Facility	33,650			299,300			332,950			—
Credit Suisse Credit Facility	1,945			51,543			53,488			—
ABN AMRO Credit Facility	8,887			104,425			113,312			—
ING Credit Facility	3,388			106,456			109,844			—
BNP Paribas Credit Facility	3,450			39,100			42,550			—
Scotiabank Credit Facility	1,110			27,750			28,860			—
NIBC Credit Facility	2,849			31,863			34,712			—
2016 Credit Facility	20,376			175,603			195,979			—
2017 Credit Facility	11,561			130,253			141,814			21,450		⁽¹⁾
HSH Credit Facility	1,592			13,824			15,416			—
DVB 2017 Credit Facility	5,920			72,520			78,440			—
Credit Agricole Credit Facility	7,703			96,211			103,914			—
ABN / K-Sure Credit Facility	3,076			46,832			49,908			—
Citi / K-Sure Credit Facility	6,443			97,609			104,052			—
Ocean Yield Lease Financing	10,263			158,753			169,016			—
CMBFL Lease Financing	4,717			61,198			65,915			—
BCFL Lease Financing (LR2s)	6,742			97,445			104,187			—
CSSC Lease Financing	18,134			251,831			269,965			—
BCFL Lease Financing (MRs)	10,401			98,831			109,232			—
Senior Notes Due 2020	—			53,750			53,750			—
Senior Notes Due 2019	—			57,500			57,500			—
Convertible Notes	—			328,717			328,717			—
	164,964			2,638,476			2,803,440			21,450
Less: deferred financing fees	(1,782		)	(34,465		)	(36,247		)	—
	$	163,182		$	2,604,011		$	2,767,193		$	21,450


(1)	Availability can be used to finance the lesser of 60% of the contract price and 60% of the fair market value of the vessel that was collateralized under this facility in January 2018, STI Jardins. This amount was drawn when this vessel was delivered in January 2018.

The drawdowns are summarized as follows:



Drawdown amount
(in millions of U.S. dollars)		Drawdown date	Collateral
$	28.3	April 2017	STI Alexis
18.9		April 2017	STI Seneca
17.9		April 2017	STI Milwaukee
16.3		April 2017	STI Wembley

During the year ended December 31, 2017, we made the following drawdowns to partially finance the purchase of seven newbuilding MRs:



Drawdown amount
(in millions of U.S. dollars)		Drawdown date	Collateral
$	20.4	March 2017	STI Galata
20.4		April 2017	STI Bosphorus
21.0		June 2017	STI Leblon
21.0		July 2017	STI La Boca
20.6		September 2017	STI San Telmo
20.7		October 2017	STI Donald C Trauscht
21.5		December 2017	STI Esles II



Record Date	Dividends per share		Share Adjusted Conversion Rate⁽¹⁾
August 22, 2014	$	0.100	82.8556
November 25, 2014	$	0.120	84.0184
March 13, 2015	$	0.120	85.2216
May 21, 2015	$	0.125	86.3738
August 14, 2015	$	0.125	87.4349
November 24, 2015	$	0.125	88.6790
March 10, 2016	$	0.125	90.5311
May 11, 2016	$	0.125	92.5323
September 15, 2016	$	0.125	94.9345
November 25, 2016	$	0.125	97.7039
February 23, 2017	$	0.010	97.9316
May 11, 2017	$	0.010	98.1588
September 25, 2017	$	0.010	98.4450
December 13, 2017	$	0.010	98.7742
⁽¹⁾ Per $1,000 principal amount.

The minimum threshold for the aggregate fair market value of the vessels as a percentage of the then aggregate principal amount of the facility shall at all times be no less than the following:



From	To	Minimum ratio
01-Jan-16	31-Dec-16	165	%
01-Jan-17	31-Dec-17	160	%
01-Jan-18	31-Dec-18	155	%
01-Jan-19	31-Dec-19	150	%
01-Jan-20	Thereafter	145	%

The following table depicts the indebtedness assumed as part of the NPTI Vessel Acquisition and Merger. The terms and conditions of each of these facilities are described below.



In thousands of U.S. dollars	Balance assumed from NPTI ⁽¹⁾		Fair value adjustments ⁽²⁾			Opening balance sheet fair value		Scheduled repayments			Other repayments				Accretion / (amortization) of fair value adjustments ⁽³⁾			Carrying Value at December 31, 2017
Credit Agricole Credit Facility	$	118,289	$	(4,433	)	$	113,856	$	(4,284	)	$	(6,142	)	⁽⁴⁾	$	484		$	103,914
ABN AMRO/K-Sure Credit Facility	55,307		(3,739		)	51,568		(1,926		)	—				266			49,908
Citi/K-Sure Credit Facility	116,274		(8,690		)	107,584		(4,208		)	—				676			104,052
Ocean Yield Lease Financing	174,180		(1,774		)	172,406		(3,459		)	—				69			169,016
CMBFL Lease Financing	69,333		(1,029		)	68,304		(2,454		)	—				65			65,915
BCFL Lease Financing (LR2s)	110,559		(4,136		)	106,423		(2,439		)	—				203			104,187
CSSC Lease Financing	280,819		6,415			287,234		(6,071		)	(10,913		)	⁽⁵⁾	(285		)	269,965
	$	924,761	$	(17,386	)	$	907,375	$	(24,841	)	$	(17,055	)		$	1,478		$	866,957



From	To	Minimum ratio
29-Feb-16	31-Mar-19	155	%
1-Apr-19	31-Mar-20	150	%
1-Apr-20	Thereafter	145	%



From	To	Minimum ratio
3-Aug-17	31-Dec-17	160	%
1-Jan-18	31-Dec-18	155	%
1-Jan-19	31-Dec-19	150	%
1-Jan-20	Thereafter	145	%

The following is a rollforward of the activity within debt (current and non-current), by facility, for the year ended December 31, 2017:



			Activity
In thousands of U.S. dollars	Outstanding balance as of December 31, 2016		Drawdowns		Debt assumed from NPTI ⁽¹⁾		Repayments			Other Activity⁽²⁾				Outstanding balance as of December 31, 2017
2011 Credit Facility	$	93,041	$	—	$	—	$	(93,041	)	$	—			$	—
K-Sure Credit Facility	314,032		—		—		(74,113		)	—				239,919
KEXIM Credit Facility	366,600		—		—		(33,650		)	—				332,950
Credit Suisse Credit Facility	—		58,350		—		(4,862		)	—				53,488
ABN AMRO Credit Facility	126,350		—		—		(13,038		)	—				113,312
ING Credit Facility	124,290		—		—		(14,446		)	—				109,844
BNP Paribas Credit Facility	32,200		40,825		—		(30,475		)	—				42,550
Scotiabank Credit Facility	32,190		—		—		(3,330		)	—				28,860
NIBC Credit Facility	39,817		—		—		(5,105		)	—				34,712
2016 Credit Facility	281,184		—		—		(85,205		)	—				195,979
DVB 2016 Credit Facility	88,375		—		—		(88,375		)	—				—
2017 Credit Facility	—		145,500		—		(3,686		)	—				141,814
HSH Credit Facility	—		31,125		—		(15,709		)	—				15,416
DVB 2017 Credit Facility	—		81,400		—		(2,960		)	—				78,440
Credit Agricole Credit Facility	—		—		113,856		(4,284		)	(5,658		)	⁽³⁾	103,914
ABN / K-Sure Credit Facility	—		—		51,568		(1,926		)	266				49,908
Citi / K-Sure Credit Facility	—		—		107,584		(4,208		)	676				104,052
Ocean Yield Lease Financing	—		—		172,406		(3,459		)	69				169,016
CMBFL Lease Financing	—		—		68,304		(2,454		)	65				65,915
BCFL Lease Financing (LR2s)	—		—		106,423		(2,439		)	203				104,187
CSSC Lease Financing	—		—		287,234		(6,071		)	(11,198		)	⁽⁴⁾	269,965
BCFL Lease Financing (MRs)	—		110,942		—		(1,710		)	—				109,232
Unsecured Senior Notes Due 2020	53,750		—		—		—			—				53,750
Unsecured Senior Notes Due 2017	51,750		—		—		(51,750		)	—				—
Unsecured Senior Notes Due 2019	—		57,500		—		—			—				57,500
Convertible Notes	316,507		—		—		—			12,210				328,717
	$	1,920,086	$	525,642	$	907,375	$	(546,296	)	$	(3,367	)		$	2,803,440

⁽¹⁾These amounts represent the opening balance sheet fair value of the indebtedness assumed from NPTI.

We made the following drawdowns from our Credit Suisse Credit Facility during the year ended December 31, 2017:

Financial expenses consist of:



	For the year ended December 31,
In thousands of U.S. dollars	2017		2016		2015
Interest payable on debt ⁽¹⁾	$	86,703	$	63,858	$	61,082
Amortization of deferred financing fees	13,381		14,149		14,688
Write-off of deferred financing fees ⁽²⁾	2,467		14,479		2,730
Accretion of Convertible Notes (as described in Note 13)	12,211		11,562		11,096
Accretion of premiums and discounts on assumed debt⁽³⁾	1,478		—		—
Total financial expenses	$	116,240	$	104,048	$	89,596

(1)

(2)


(3)	The accretion of premiums and discounts represent the accretion or amortization of the fair value adjustments relating to the indebtedness assumed from NPTI that have been recorded since the closing dates of the NPTI Vessel Acquisition and the September Closing. These premiums or discounts are described in Note 13.

(Loss) / Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings per share [abstract]

Schedule of basic and diluted (loss) / earnings per share

The calculation of both basic and diluted (loss) / earnings per share is based on net income or loss attributable to equity holders of the parent and weighted average outstanding shares of:



	For the year ended December 31,
In thousands of U.S. dollars except for share data	2017			2016			2015
Net (loss) or income attributable to equity holders of the parent - basic	$	(158,240	)	$	(24,903	)	$	217,749
Convertible Notes interest expense	—			—			19,630
Convertible Notes deferred financing amortization	—			—			1,756
Net (loss) or income attributable to equity holders of the parent - diluted	$	(158,240	)	$	(24,903	)	$	239,135

Basic weighted average number of shares	215,333,402			161,118,654			161,436,449
Effect of dilutive potential basic shares:
Restricted stock	—			—			7,323,894
Convertible Notes	—			—			30,978,983
	—			—			38,302,877
Diluted weighted average number of shares	215,333,402			161,118,654			199,739,326

(Loss) / Earnings Per Share:
Basic	$	(0.73	)	$	(0.15	)	$	1.35
Diluted	$	(0.73	)	$	(0.15	)	$	1.20

Financial Instruments - Financial and Other Risks (Tables)

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Fair Values and Carrying Values of Financial Assets

The fair values and carrying values of our financial instruments at December 31, 2017 and 2016, respectively, are shown in the table below.

Categories of Financial Instruments



	As of December 31, 2017				As of December 31, 2016
Amounts in thousands of U.S. dollars	Fair value		Carrying Value		Fair value		Carrying Value
Financial assets
Cash and cash equivalents⁽¹⁾	$	186,462	$	186,462	$	99,887	$	99,887
Restricted cash ⁽²⁾	11,387		11,387		—		—
Loans and receivables ⁽³⁾	65,458		65,458		42,329		42,329
Derivatives at fair value through profit or loss⁽⁴⁾	—		—		116		116

Financial liabilities
Accounts payable ⁽⁵⁾	$	13,044	$	13,044	$	9,282	$	9,282
Accrued expenses ⁽⁵⁾	32,838		32,838		23,024		23,024
Secured bank loans ⁽⁶⁾	1,615,248		1,615,248		1,466,940		1,466,940
Finance lease liability⁽⁷⁾	717,139		717,139		—		—
Unsecured Senior Notes Due 2020⁽⁸⁾	53,449		53,750		48,252		53,750
Unsecured Senior Notes Due 2017 ⁽⁸⁾	—		—		52,330		51,750
Unsecured Senior Notes Due 2019 ⁽⁸⁾	58,466		57,500		—		—
Convertible Notes⁽⁹⁾	316,184		348,500		286,321		348,500


(1)	Cash and cash equivalents are considered Level 1 items as they represent liquid assets with short-term maturities.


(2)	Restricted cash are considered Level 1 items due to the liquid nature of these assets.


(3)	We consider that the carrying amount of accounts receivable approximate their fair value due to the relative short maturity of these instruments.

(4)


(5)	We consider that the carrying amounts of accounts payable and accrued expenses approximate the fair value due to the relative short maturity of these instruments.

(6)

(7)

(8)

(9)

Fair Values and Carrying Values of Financial Liabilities

The fair values and carrying values of our financial instruments at December 31, 2017 and 2016, respectively, are shown in the table below.

Categories of Financial Instruments



	As of December 31, 2017				As of December 31, 2016
Amounts in thousands of U.S. dollars	Fair value		Carrying Value		Fair value		Carrying Value
Financial assets
Cash and cash equivalents⁽¹⁾	$	186,462	$	186,462	$	99,887	$	99,887
Restricted cash ⁽²⁾	11,387		11,387		—		—
Loans and receivables ⁽³⁾	65,458		65,458		42,329		42,329
Derivatives at fair value through profit or loss⁽⁴⁾	—		—		116		116

Financial liabilities
Accounts payable ⁽⁵⁾	$	13,044	$	13,044	$	9,282	$	9,282
Accrued expenses ⁽⁵⁾	32,838		32,838		23,024		23,024
Secured bank loans ⁽⁶⁾	1,615,248		1,615,248		1,466,940		1,466,940
Finance lease liability⁽⁷⁾	717,139		717,139		—		—
Unsecured Senior Notes Due 2020⁽⁸⁾	53,449		53,750		48,252		53,750
Unsecured Senior Notes Due 2017 ⁽⁸⁾	—		—		52,330		51,750
Unsecured Senior Notes Due 2019 ⁽⁸⁾	58,466		57,500		—		—
Convertible Notes⁽⁹⁾	316,184		348,500		286,321		348,500


(1)	Cash and cash equivalents are considered Level 1 items as they represent liquid assets with short-term maturities.


(2)	Restricted cash are considered Level 1 items due to the liquid nature of these assets.


(3)	We consider that the carrying amount of accounts receivable approximate their fair value due to the relative short maturity of these instruments.

(4)


(5)	We consider that the carrying amounts of accounts payable and accrued expenses approximate the fair value due to the relative short maturity of these instruments.

(6)

(7)

(8)

(9)

Schedule of Contractual Maturity of Secured and Unsecured Credit Facilities

To be repaid as follows:



	As of December 31,
In thousands of U.S. dollars	2017		2016
Less than 1 month	$	24,868	$	32,997
1-3 months	65,294		41,577
3 months to 1 year	219,144		354,738
1-5 years	2,438,033		1,723,306
5+ years	684,330		54,330
Total	$	3,431,669	$	2,206,948

Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2017

Events After Reporting Period [Abstract]

Summary of vesting schedule of restricted stock

The vesting schedule of the restricted stock issued to our employees is as follows:



Number of restricted shares		Vesting date
360,439		September 5, 2019
670,262		March 2, 2020
1,258,576		June 1, 2020
1,395,762		September 4, 2020
670,262		March 1, 2021
1,258,576		June 1, 2021
1,395,762		September 3, 2021
670,259		March 1, 2022
1,258,578		June 1, 2022
1,035,323		September 2, 2022
9,973,799

The vesting schedule of the restricted stock issued to our employees is as follows:



Number of restricted shares		Vesting date
1,235,186		September 4, 2020
217,502		November 4, 2020
214,794		March 1, 2021
1,235,186		September 3, 2021
217,502		November 5, 2021
214,794		March 1, 2022
1,235,187		September 2, 2022
217,502		November 4, 2022
214,795		March 1, 2023
5,002,448

General Information and Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2017 USD ($) business_acquisition class vessel $ / shares shares	Dec. 31, 2016 USD ($) vessel $ / shares shares	Dec. 31, 2015 USD ($)	Sep. 01, 2017 shares vessel	Jun. 14, 2017 entity vessel	May 31, 2017 vessel	May 30, 2017 shares	Jun. 30, 2014 USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessel classes \| class	4
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01
Number vessels operating on voyage charters	2
Reduction in revenue \| $	$ (512,732,000)	$ (522,747,000)	$ (755,711,000)
Reduction in voyage expenses \| $	(7,733,000)	$ (1,578,000)	$ (4,432,000)
Increase (decrease) due to application of IFRS 15 [member]
Disclosure of detailed information about property, plant and equipment [line items]
Reduction in revenue \| $	200,000
Reduction in voyage expenses \| $	$ 200,000
Convertible Senior Notes [member]
Disclosure of detailed information about property, plant and equipment [line items]
Aggregate principal amount notes issued \| $								$ 360,000,000
Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	107	77
Average market rates period	4 years
Average time charter rate period used to establish growth rate	3 years
Growth rate in freight rates	2.47%
Discount rate used	8.03%
Number of vessels with fair value more than carrying value	8
Number of vessels with fair value less than carrying value	99
Impairment loss recognised in profit or loss \| $	$ 0	$ 0
Estimated useful lives	25 years
Vessels [member] \| Top of range [member]
Disclosure of detailed information about property, plant and equipment [line items]
Period for scheduled repairs and maintenance	60 months
Vessels [member] \| Bottom of range [member]
Disclosure of detailed information about property, plant and equipment [line items]
Period for scheduled repairs and maintenance	30 months
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	2	10
Impairment loss recognised in profit or loss \| $	$ 0	$ 0
Owned or financed lease product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	107
Owned or financed lease product tankers [member] \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	2
Time or bareboat chartered-in product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	19
Handymax [Member] \| Owned or financed lease product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	14
Handymax [Member] \| Time or bareboat chartered-in product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	9
MR [Member] \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	2
MR [Member] \| Owned or financed lease product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	43
MR [Member] \| Time or bareboat chartered-in product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	9
LR1 [Member] \| Owned or financed lease product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	12
LR2 [Member] \| Owned or financed lease product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	38
LR2 [Member] \| Time or bareboat chartered-in product tankers [member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels	1
Common stock [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of shares outstanding (in shares) \| shares	326,507,544	174,629,755
Common stock, shares issued (in shares) \| shares	326,507,544	174,629,755
Shares authorized (in shares) \| shares	326,507,544	174,629,755
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
NPTI [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of business acquisitions \| business_acquisition	2
NPTI [Member] \| LR1 [Member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels acquired						12
NPTI [Member] \| LR2 [Member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels acquired						15
NPTI [Member] \| Common stock [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of instruments or interests issued or issuable \| shares				54,999,990
Common stock, shares issued (in shares) \| shares							50,000,000
NPTI Vessel Acquisition [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Number vessel owning subsidiaries acquired \| entity					4
NPTI Vessel Acquisition [Member] \| LR1 [Member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels acquired					4
NPTI September Closing [Member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels acquired				23
NPTI September Closing [Member] \| LR1 [Member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels acquired				8
NPTI September Closing [Member] \| LR2 [Member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels acquired				15
NPTI September Closing [Member] \| Common stock [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of instruments or interests issued or issuable \| shares				54,999,990

Merger with Navig8 Product Tankers Inc - Additional Information (Details) $ / shares in Units, $ in Thousands					1 Months Ended	12 Months Ended
	Sep. 01, 2017 USD ($) shares vessel $ / shares	Jun. 14, 2017 USD ($) entity vessel shares	May 30, 2017 USD ($) $ / shares shares	May 23, 2017 shares	Jun. 30, 2017 shares	Dec. 31, 2017 USD ($) warrant business_acquisition $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($)	May 31, 2017 vessel
Disclosure of detailed information about business combination [line items]
Issuance of shares						$ 303,500	$ 0	$ 159,747
Transaction costs relating to Merger						36,114	$ 0	$ 0
NPTI [Member] \| Other related parties [member]
Disclosure of detailed information about business combination [line items]
Percentage of revenue due to entity from related party transactions				30.00%
Pool revenue, eliminated on a pro rata basis						$ 100
Common stock [member]
Disclosure of detailed information about business combination [line items]
Common stock, shares issued (in shares) \| shares						326,507,544	174,629,755
Number of shares outstanding (in shares) \| shares						326,507,544	174,629,755
Common stock [member] \| NPTI [Member] \| Other related parties [member]
Disclosure of detailed information about business combination [line items]
Shares issued in exchange for revenue from related party transactions \| shares				336,963
Series A Redeemable Preferred Shares [Member] \| NPTI [Member]
Disclosure of detailed information about business combination [line items]
Issuance of shares							$ 30,000
Number of shares outstanding (in shares) \| shares	3,000,000
Redemption price per share (in USD per share) \| $ / shares							$ 10.00
Redemption premium multiple							1.20
Fair value of redemption shares	$ 6,600
Redemption liability	39,500
Redemption price	30,000
Accrued and unpaid dividends redeemable shares	2,900
Redemption premium	6,600
NPTI [Member]
Disclosure of detailed information about business combination [line items]
Price per share (in USD per share) \| $ / shares						$ 4.02
Liabilities incurred	$ 907,400
Number of business acquisitions \| business_acquisition						2
Revenue of acquiree since acquisition date						$ 45,300
Net loss of acquiree since acquisition date						18,700
Revenue of combined entity as if combination occurred at beginning of period						594,500
Net loss of combined entity as if combination occurred at beginning of period						193,400
Transaction costs relating to Merger						$ 36,100
Number of warrants issued as consideration for termination \| warrant						2
NPTI [Member] \| Advisory and other professional fees
Disclosure of detailed information about business combination [line items]
Transaction costs relating to Merger						$ 16,100
NPTI [Member] \| Early termination of existing service agreements costs
Disclosure of detailed information about business combination [line items]
Transaction costs relating to Merger						17,700
Transaction costs relating to Merger, settled						6,000
NPTI [Member] \| Other costs
Disclosure of detailed information about business combination [line items]
Transaction costs relating to Merger						$ 2,300
NPTI [Member] \| Common stock [member]
Disclosure of detailed information about business combination [line items]
Common stock, shares issued (in shares) \| shares			50,000,000
Price per share (in USD per share) \| $ / shares			$ 4.00
Issuance of shares			$ 188,700
Number of instruments or interests issued or issuable \| shares	54,999,990
NPTI [Member] \| Warrant [Member]
Disclosure of detailed information about business combination [line items]
Number of instruments or interests issued or issuable \| warrant						1,500,000
Exercise price (in USD per warrant) \| $ / shares						$ 0.01
NPTI [Member] \| Vessels [member]
Disclosure of detailed information about business combination [line items]
Number of vessels intended to acquire \| vessel									27
NPTI [Member] \| Vessels [member] \| LR1 [Member]
Disclosure of detailed information about business combination [line items]
Number of vessels acquired \| vessel									12
NPTI [Member] \| Vessels [member] \| LR2 [Member]
Disclosure of detailed information about business combination [line items]
Number of vessels acquired \| vessel									15
NPTI Vessel Acquisition [Member]
Disclosure of detailed information about business combination [line items]
Cash transferred		$ 42,200
Number of entities acquired \| entity		4
NPTI Vessel Acquisition [Member] \| Common stock [member]
Disclosure of detailed information about business combination [line items]
Shares issued upon exercise of warrants (in shares) \| shares		222,224			222,224
NPTI Vessel Acquisition [Member] \| Vessels [member] \| LR1 [Member]
Disclosure of detailed information about business combination [line items]
Number of vessels acquired \| vessel		4
NPTI September Closing [Member] \| Common stock [member]
Disclosure of detailed information about business combination [line items]
Number of shares per one share issued \| shares	1.176
Number of instruments or interests issued or issuable \| shares	54,999,990
Shares issued upon exercise of warrants (in shares) \| shares	1,277,776
NPTI September Closing [Member] \| Warrant [Member]
Disclosure of detailed information about business combination [line items]
Exercise price (in USD per warrant) \| $ / shares	$ 0.01
NPTI September Closing [Member] \| Vessels [member]
Disclosure of detailed information about business combination [line items]
Number of vessels acquired \| vessel	23
NPTI September Closing [Member] \| Vessels [member] \| LR1 [Member]
Disclosure of detailed information about business combination [line items]
Number of vessels acquired \| vessel	8
NPTI September Closing [Member] \| Vessels [member] \| LR2 [Member]
Disclosure of detailed information about business combination [line items]
Number of vessels acquired \| vessel	15

Merger with Navig8 Product Tankers Inc - Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 01, 2017	Jun. 14, 2017
NPTI Vessel Acquisition [Member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents		$ 6,180
Restricted cash		0
Trade receivables		3,330
Prepaid expenses and other assets		2,932
Inventories		299
Restricted cash - non-current		4,000
Vessels, net		158,500
Accounts payable and accrued expenses		(13,720)
Debt (current and non-current)		(113,856)
Redeemable Preferred Shares		0
Net assets acquired and liabilities assumed		47,665
Total purchase price consideration		42,248
Provisional (bargain purchase) / goodwill		$ (5,417)
NPTI September Closing [Member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	$ 15,149
Restricted cash	13,641
Trade receivables	16,323
Prepaid expenses and other assets	19,940
Inventories	1,415
Restricted cash - non-current	6,380
Vessels, net	972,750
Accounts payable and accrued expenses	(2,966)
Debt (current and non-current)	(793,519)
Redeemable Preferred Shares	(39,495)
Net assets acquired and liabilities assumed	209,618
Total purchase price consideration	221,100
Provisional (bargain purchase) / goodwill	$ 11,482

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Subclassifications of assets, liabilities and equities [abstract]
Cash at banks	$ 185,377	$ 99,053
Cash on vessels	1,085	834
Total cash	$ 186,462	$ 99,887	$ 200,970	$ 116,143

Prepaid expenses and other assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [line items]
Prepaid insurance	$ 3,429	$ 3,206
Third party - prepaid vessel operating expenses	1,255	42
Prepaid interest	1,153	0
Other prepaid expenses	5,492	1,586
Current prepayments and other current assets	17,720	9,067
SSM [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
SSM - prepaid vessel operating expenses	$ 6,391	$ 4,233

Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [line items]
Freight and time charter receivables	$ 2,399	$ 0
Insurance receivables	870	1,362
Other receivables	2,684	287
Accounts receivable	65,458	42,329
Navig8 Group Pools [Member]
Disclosure of transactions between related parties [line items]
Freight and time charter receivables	14,625	0
Other related parties [member] \| Scorpio Group Pools [Member]
Disclosure of transactions between related parties [line items]
Related party receivables	44,880	40,680
Working capital contributions, related parties	25,700	24,100
Other related parties [member] \| Scorpio MR Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party receivables	27,720	28,611
Other related parties [member] \| Scorpio LR2 Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party receivables	7,026	7,552
Other related parties [member] \| Scorpio Handymax Tanker Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party receivables	6,037	3,125
Other related parties [member] \| Scorpio LR1 Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party receivables	3,002	0
Other related parties [member] \| Scorpio Aframax Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party receivables	1,095	0
Other related parties [member] \| Scorpio Panamax Tanker Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party receivables	$ 0	$ 1,392

Vessels - Operating vessels and drydock rollforward (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($)
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	$ 2,913,254
Property, plant and equipment	$ 4,090,094	$ 2,913,254
Additions from deliveries of vessels and corresponding drydock \| vessel	8
Cost [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	$ 3,186,879	3,250,406
Additions	346,005	107,215
Vessels acquired in merger with NPTI	1,131,250
Disposal of vessels	(187,848)	(170,742)
Write-offs	(3,750)
Property, plant and equipment	4,472,536	3,186,879
Accumulated depreciation and impairment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	(273,625)	(162,653)
Charge for the period	(141,418)	(121,461)
Disposal of vessels	28,851	10,489
Write-offs	3,750
Property, plant and equipment	(382,442)	(273,625)
Vessels [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	2,880,580
Property, plant and equipment	4,041,945	2,880,580
Vessels [member] \| Cost [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	3,126,790	3,188,367
Additions	333,338	105,415
Vessels acquired in merger with NPTI	1,113,618
Disposal of vessels	(184,098)	(166,992)
Write-offs	0
Property, plant and equipment	4,389,648	3,126,790
Vessels [member] \| Accumulated depreciation and impairment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	(246,210)	(146,063)
Charge for the period	(127,369)	(109,433)
Disposal of vessels	25,876	9,286
Write-offs	0
Property, plant and equipment	(347,703)	(246,210)
Drydock [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	32,674
Property, plant and equipment	48,149	32,674
Drydock [Member] \| Cost [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	60,089	62,039
Additions	12,667	1,800
Vessels acquired in merger with NPTI	17,632
Disposal of vessels	(3,750)	(3,750)
Write-offs	(3,750)
Property, plant and equipment	82,888	60,089
Drydock [Member] \| Accumulated depreciation and impairment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment	(27,415)	(16,590)
Charge for the period	(14,049)	(12,028)
Disposal of vessels	2,975	1,203
Write-offs	3,750
Property, plant and equipment	$ (34,739)	$ (27,415)

Vessels - Vessel deliveries (Details) $ in Thousands	1 Months Ended		12 Months Ended
Vessels - Vessel deliveries (Details) $ in Thousands	Apr. 30, 2016 USD ($)	Jan. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel	Dec. 31, 2015 USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Increase through delivery of vessels			$ 346,000	$ 107,200
Payment to purchase property, plant and equipment		$ 13,800	258,311	126,842	$ 905,397
Debt outstanding			$ 2,767,193	$ 1,882,681
Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels \| vessel			107	77
STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx [Member] \| Drydock [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels \| vessel			5
Drydocked period for special survey			102 days
Drydock expenses incurred			$ 6,400
STI Lombard [Member] \| Vessels [member]
Disclosure of detailed information about property, plant and equipment [line items]
Finance lease, percentage of purchase price	90.00%
Payment to purchase property, plant and equipment	$ 53,100
ING Credit Facility [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Debt outstanding	$ 26,500		$ 109,800	$ 124,300

Vessels - Vessel sales (Details)	1 Months Ended		3 Months Ended	4 Months Ended	12 Months Ended
Vessels - Vessel sales (Details)	Jun. 30, 2017 USD ($)	Apr. 30, 2017 USD ($) vessel	May 31, 2016 USD ($) vessel	Jul. 31, 2017 USD ($)	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel	Dec. 31, 2015 USD ($)	Apr. 30, 2016 vessel	Mar. 31, 2016 vessel	Feb. 29, 2016 vessel
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels sold \| vessel			2					1	2
Proceeds from disposal of vessels					$ 127,372,000	$ 158,175,000	$ 90,820,000
Loss on sales of vessels, net					23,345,000	2,078,000	35,000
Write-off of deferred financing fees					$ 2,467,000	$ 14,479,000	$ 2,730,000
STI Lexington, STI Mythos, STI Chelsea, STI Olivia, and STI Powai [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels sold \| vessel						5
STI Beryl, STI Le Rocher, STI Larvotto [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Sale leaseback transaction, number of vessels \| vessel					3
STI Emerald and STI Sapphire [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels sold \| vessel					2
Vessels [member] \| STI Lexington, STI Mythos, STI Chelsea, STI Olivia, and STI Powai [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels in agreement to sell \| vessel										5
Proceeds from disposal of vessels			$ (158,100,000)
Loss on sales of vessels, net			2,100,000
Vessels [member] \| STI Beryl, STI Le Rocher, STI Larvotto [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Loss on sales of vessels, net					$ 14,200,000
Sale leaseback transaction, number of vessels \| vessel		3
Sale leaseback transaction, gross proceeds per vessel		$ 29,000,000
Sale leaseback transaction, term		8 years
Sale leaseback transaction, daily rental payments per vessel		$ 8,800
Sale leaseback transaction, deposit per vessel		$ 4,350,000			4,350,000
Vessels [member] \| STI Emerald and STI Sapphire [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels in agreement to sell \| vessel		2
Proceeds from disposal of vessels		$ 56,400,000
Loss on sales of vessels, net				$ 9,100,000
K-Sure Credit Facility [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Repayments					30,600,000
K-Sure Credit Facility [Member] \| STI Chelsea, STI Lexington, STI Powai, and STI Olivia [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Repayments			73,500,000
2013 Credit Facility [Member] \| STI Mythos [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Repayments			17,900,000
K-Sure Credit Facility and 2013 Credit Facility [Member] \| STI Lexington, STI Mythos, STI Chelsea, STI Olivia, and STI Powai [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Write-off of deferred financing fees			$ 3,200,000
2011 Credit Facility [Member] \| STI Beryl, STI Le Rocher, STI Larvotto [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Repayments		$ 42,200,000
BNP Paribas Credit Facility [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Repayments					2,900,000
BNP Paribas Credit Facility [Member] \| STI Emerald and STI Sapphire [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Repayments	$ 27,600,000
Write-off of deferred financing fees	$ 500,000
BNP Paribas Credit Facility [Member] \| Vessels [member] \| STI Emerald and STI Sapphire [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Repayments					$ 27,600,000

Vessels Under Construction - Narrative (Details) $ in Thousands		1 Months Ended		12 Months Ended
	Dec. 31, 2017 USD ($) vessel	Jan. 31, 2018 USD ($)	Jan. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel	Dec. 31, 2015 USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Payment to purchase property, plant and equipment			$ 13,800	$ 258,311	$ 126,842	$ 905,397
Capitalized interest				$ 4,200	$ 6,300	$ 5,600
Capitalisation rate of borrowing costs eligible for capitalisation				4.70%	4.70%
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels \| vessel	2			2	10
Aggregate purchase price	$ 75,800			$ 75,800
Payment to purchase property, plant and equipment				52,300
Capitalized interest				$ 4,194	$ 6,274
STI Esles II [Member] \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Payment to purchase property, plant and equipment	$ 23,500
Major purchases of assets [member] \| STI Jardins [Member] \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Payment to purchase property, plant and equipment		$ 23,500
MR [Member] \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Number of vessels \| vessel	2			2

Vessels Under Construction - Construction in Progress Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about property, plant and equipment [line items]
Construction in progress balance, beginning period	$ 137,917
Capitalized interest	4,200	$ 6,300	$ 5,600
Construction in progress balance, period end	55,376	137,917
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Construction in progress balance, beginning period	137,917	132,218
Installment payments and other capitalized expenses	252,977	106,034
Capitalized interest	4,194	6,274
Transferred to operating vessels and drydock	(339,712)	(106,609)
Construction in progress balance, period end	$ 55,376	$ 137,917	$ 132,218

Carrying Values of Vessels, Vessels Under Construction and Goodwill (Details)	12 Months Ended
	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel
Vessels [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Average time charter rate period used to establish growth rate	3 years
Growth rate in freight rates	2.47%
Discount rate used	8.03%
Number of vessels	107	77
Number of vessels with fair value more than carrying value	8
Number of vessels with fair value less than carrying value	99
Impairment loss recognised in profit or loss \| $	$ 0	$ 0
Number of vessels with fair value in excess of carrying vaoue		77
Percentage increase in discount rate used in sensitivity analysis	1.00%	1.00%
Impact on impairment loss with 1.0% increase in discount rate \| $	$ 2,300,000	$ 20,200,000.0
Percentage decrease in forecasted time charter rates used in sensitivity analysis	5.00%	5.00%
Number of vessels impaired with decrease in discount rate used in sensitivity analysis		4
Impact on impairment loss with 5% decrease in forecasted time charter rates \| $	$ 6,900,000	$ 22,400,000.0
Construction in progress [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Number of vessels	2	10
Impairment loss recognised in profit or loss \| $	$ 0	$ 0
MR [Member] \| Vessels [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Number of vessels impaired with increase in discount rate used in sensitivity analysis	4	4
MR [Member] \| Construction in progress [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Number of vessels	2
Handymax and MR [Member] \| Vessels [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Number of vessels impaired with decrease in discount rate used in sensitivity analysis	13
LR2 [Member] \| Vessels [member]
Disclosure of impairment loss and reversal of impairment loss [line items]
Number of vessels impaired with increase in discount rate used in sensitivity analysis		6
Number of vessels impaired with decrease in discount rate used in sensitivity analysis		6

Other Non-Current Assets (Details) - USD ($) $ in Thousands	12 Months Ended
Other Non-Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Apr. 30, 2017	Dec. 31, 2016
Disclosure Of Other Non-Current Assets [Line Items]
Sellers credit on lease financed vessels	$ 8,581		$ 0
Capitalized loan fees	582		2,278
Other	120		0
Other non-current assets	$ 50,684		21,495
Scorpio Handymax Tanker Pool Limited [Member]
Disclosure Of Other Non-Current Assets [Line Items]
Working capital repayment period upon vessel's exit from each pool	6 months
Other related parties [member] \| Scorpio LR2 Pool Limited [Member]
Disclosure Of Other Non-Current Assets [Line Items]
Non-current receivables due from related parties	$ 28,050		13,600
Other related parties [member] \| Scorpio Handymax Tanker Pool Limited [Member]
Disclosure Of Other Non-Current Assets [Line Items]
Non-current receivables due from related parties	$ 6,751		5,617
Working capital repayment period upon vessel's exit from each pool	6 months
Other related parties [member] \| Scorpio LR1 Pool Limited [Member]
Disclosure Of Other Non-Current Assets [Line Items]
Non-current receivables due from related parties	$ 6,600		0
Other related parties [member] \| Scorpio Group Pools [Member]
Disclosure Of Other Non-Current Assets [Line Items]
Non-current receivables due from related parties	41,401		$ 19,217
STI Beryl, STI Le Rocher, STI Larvotto [Member] \| Vessels [member]
Disclosure Of Other Non-Current Assets [Line Items]
Sale leaseback transaction, deposit per vessel	4,350	$ 4,350
Sale leaseback transaction, aggregate amount	$ 13,100

Accounts Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [line items]
Suppliers	$ 11,441	$ 8,524
Accounts payable	13,044	9,282
Other related parties [member]
Disclosure of transactions between related parties [line items]
Related party payables	1,603	758
Other related parties [member] \| SSM [Member]
Disclosure of transactions between related parties [line items]
Related party payables	766	653
Other related parties [member] \| Scorpio LR2 Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party payables	365	15
Other related parties [member] \| Scorpio Services Holding Limited (SSH) [Member]
Disclosure of transactions between related parties [line items]
Related party payables	190	90
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member]
Disclosure of transactions between related parties [line items]
Related party payables	186	0
Other related parties [member] \| Scorpio Aframax Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party payables	74	0
Other related parties [member] \| Scorpio LR1 Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Related party payables	$ 22	$ 0

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of transactions between related parties [line items]
Suppliers	$ 16,594	$ 5,745
Accrued interest	13,078	11,216
Accrued short-term employee benefits	2,325	5,487
Accrued transaction costs relating to the Merger	34	0
Other accrued expenses	802	523
Accrued expenses	32,838	23,024
Other related parties [member]
Disclosure of transactions between related parties [line items]
Related party expenses	5	53
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member]
Disclosure of transactions between related parties [line items]
Related party expenses	$ 5	$ 53

Current and Long-Term Debt - Schedule of current and non-current portion of debt (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	$ 113,036	$ 353,012
Finance lease	50,146	0
Current portion of long-term debt	163,182	353,012
Non-current portion	1,937,018	1,529,669
Finance lease liability	666,993	0
Total debt outstanding	2,767,193	1,882,681
Deferred financing fees [Member]
Disclosure of detailed information about borrowings [line items]
Current portion of long-term debt	(1,700)	(4,300)
Finance lease	(100)
Non-current portion	(33,400)	$ (33,100)
Finance lease liability	$ (1,100)

Current and Long-Term Debt - Schedule of debt by facility (Details) - USD ($)	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016	Apr. 30, 2016	Jun. 30, 2014
Disclosure of detailed information about borrowings [line items]
Current	$ 163,182,000		$ 353,012,000
Non-current portion	1,937,018,000		1,529,669,000
Total debt outstanding	2,767,193,000		1,882,681,000
K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	239,900,000		314,000,000
KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	333,000,000		366,600,000
Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	53,500,000.0
ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	113,300,000		126,400,000
ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	109,800,000		124,300,000	$ 26,500,000
BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	42,600,000		32,200,000
Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	28,900,000		32,200,000
NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	34,700,000		39,800,000
2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	196,000,000		281,200,000
2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	141,800,000
HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	15,400,000
DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	78,400,000
Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding		$ 103,900,000
ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	49,900,000
Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	104,100,000
Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	169,000,000
CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	65,900,000
BCFL Lease Financing (LR2s) [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	104,200,000
CSSC Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	270,000,000
BCFL Lease Financing (MRs) [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	109,200,000
Unsecured Senior Notes Due 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	53,750,000		53,750,000
Unsecured Senior Notes Due 2019 [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	57,500,000
Convertible Notes [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	328,700,000		316,500,000		$ 298,700,000
Borrowings and Finance Leases [Member]
Disclosure of detailed information about borrowings [line items]
Current	163,182,000
Non-current portion	2,604,011,000
Total debt outstanding	2,767,193,000
Available	$ 21,450,000
Vessels [member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Availability to finance vessels, percentage of contract price	60.00%
Availability to finance vessels, percentage of fair market value	60.00%
Vessels [member] \| STI Jardins [Member] \| Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Availability to finance vessels, percentage of contract price	60.00%
Availability to finance vessels, percentage of fair market value	60.00%
Gross carrying amount [member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	$ 2,803,440,000		1,920,086,000
Gross carrying amount [member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	2,757,000
Non-current portion	237,162,000
Total debt outstanding	239,919,000		314,032,000
Available	0
Gross carrying amount [member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	33,650,000
Non-current portion	299,300,000
Total debt outstanding	332,950,000		366,600,000
Available	0
Gross carrying amount [member] \| Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	1,945,000
Non-current portion	51,543,000
Total debt outstanding	53,488,000		0
Available	0
Gross carrying amount [member] \| ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	8,887,000
Non-current portion	104,425,000
Total debt outstanding	113,312,000		126,350,000
Available	0
Gross carrying amount [member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	3,388,000
Non-current portion	106,456,000
Total debt outstanding	109,844,000		124,290,000
Available	0
Gross carrying amount [member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	3,450,000
Non-current portion	39,100,000
Total debt outstanding	42,550,000		32,200,000
Available	0
Gross carrying amount [member] \| Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	1,110,000
Non-current portion	27,750,000
Total debt outstanding	28,860,000		32,190,000
Available	0
Gross carrying amount [member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	2,849,000
Non-current portion	31,863,000
Total debt outstanding	34,712,000		39,817,000
Available	0
Gross carrying amount [member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	20,376,000
Non-current portion	175,603,000
Total debt outstanding	195,979,000		281,184,000
Available	0
Gross carrying amount [member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	11,561,000
Non-current portion	130,253,000
Total debt outstanding	141,814,000		0
Available	21,450,000
Gross carrying amount [member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	1,592,000
Non-current portion	13,824,000
Total debt outstanding	15,416,000		0
Available	0
Gross carrying amount [member] \| DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	5,920,000
Non-current portion	72,520,000
Total debt outstanding	78,440,000		0
Available	0
Gross carrying amount [member] \| Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	7,703,000
Non-current portion	96,211,000
Total debt outstanding	103,914,000		0
Available	0
Gross carrying amount [member] \| ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	3,076,000
Non-current portion	46,832,000
Total debt outstanding	49,908,000		0
Available	0
Gross carrying amount [member] \| Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Current	6,443,000
Non-current portion	97,609,000
Total debt outstanding	104,052,000		0
Available	0
Gross carrying amount [member] \| Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Current	10,263,000
Non-current portion	158,753,000
Total debt outstanding	169,016,000		0
Available	0
Gross carrying amount [member] \| CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Current	4,717,000
Non-current portion	61,198,000
Total debt outstanding	65,915,000		0
Available	0
Gross carrying amount [member] \| BCFL Lease Financing (LR2s) [Member]
Disclosure of detailed information about borrowings [line items]
Current	6,742,000
Non-current portion	97,445,000
Total debt outstanding	104,187,000		0
Available	0
Gross carrying amount [member] \| CSSC Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Current	18,134,000
Non-current portion	251,831,000
Total debt outstanding	269,965,000		0
Available	0
Gross carrying amount [member] \| BCFL Lease Financing (MRs) [Member]
Disclosure of detailed information about borrowings [line items]
Current	10,401,000
Non-current portion	98,831,000
Total debt outstanding	109,232,000		0
Available	0
Gross carrying amount [member] \| Unsecured Senior Notes Due 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Current	0
Non-current portion	53,750,000
Total debt outstanding	53,750,000		53,750,000
Available	0
Gross carrying amount [member] \| Unsecured Senior Notes Due 2019 [Member]
Disclosure of detailed information about borrowings [line items]
Current	0
Non-current portion	57,500,000
Total debt outstanding	57,500,000		0
Available	0
Gross carrying amount [member] \| Convertible Notes [Member]
Disclosure of detailed information about borrowings [line items]
Current	0
Non-current portion	328,717,000
Total debt outstanding	328,717,000		316,507,000
Available	0
Gross carrying amount [member] \| Borrowings and Finance Leases [Member]
Disclosure of detailed information about borrowings [line items]
Current	164,964,000
Non-current portion	2,638,476,000
Total debt outstanding	2,803,440,000
Available	21,450,000
Deferred financing fees [Member]
Disclosure of detailed information about borrowings [line items]
Non-current portion	(33,400,000)		$ (33,100,000)
Deferred financing fees [Member] \| Unsecured Senior Notes Due 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	800,000
Deferred financing fees [Member] \| Unsecured Senior Notes Due 2019 [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	1,500,000
Deferred financing fees [Member] \| Convertible Notes [Member]
Disclosure of detailed information about borrowings [line items]
Total debt outstanding	2,800,000
Deferred financing fees [Member] \| Borrowings and Finance Leases [Member]
Disclosure of detailed information about borrowings [line items]
Current	(1,782,000)
Non-current portion	(34,465,000)
Total debt outstanding	(36,247,000)
Available	$ 0

Current and Long-Term Debt - Schedule of debt assumed from NPTI (Details) - USD ($) $ in Thousands			1 Months Ended	4 Months Ended	7 Months Ended	12 Months Ended
	Sep. 01, 2017	Jun. 14, 2017	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2017
Disclosure of detailed information about borrowings [line items]
Accretion / (amortization) of fair value adjustments						$ 1,478	$ 0	$ 0
Debt outstanding				$ 2,767,193	$ 2,767,193	2,767,193	1,882,681
Release of restricted cash						2,279	$ 0	$ 0
Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding									$ 103,900
ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding				49,900	49,900	49,900
Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding				104,100	104,100	104,100
Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding				169,000	169,000	169,000
CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding				65,900	65,900	65,900
BCFL Lease Financing (LR2s) [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding				104,200	104,200	104,200
CSSC Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Scheduled repayment			$ (10,900)
Debt outstanding				270,000	270,000	270,000
NPTI [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI	$ 924,761
Fair value adjustments	(17,386)
Opening balance sheet fair value	907,375
Scheduled repayment				(24,841)
Other repayments				(17,055)
Accretion / (amortization) of fair value adjustments				1,478
Debt outstanding				866,957	866,957	866,957
NPTI [Member] \| Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI		$ 118,289
Fair value adjustments		(4,433)
Opening balance sheet fair value		113,856
Scheduled repayment					(4,284)
Other repayments					(6,142)
Accretion / (amortization) of fair value adjustments					484
Debt outstanding				103,914	103,914	103,914
NPTI [Member] \| ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI	55,307
Fair value adjustments	(3,739)
Opening balance sheet fair value	51,568
Scheduled repayment				(1,926)
Other repayments				0
Accretion / (amortization) of fair value adjustments				266
Debt outstanding				49,908	49,908	49,908
NPTI [Member] \| Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI	116,274
Fair value adjustments	(8,690)
Opening balance sheet fair value	107,584
Scheduled repayment				(4,208)
Other repayments				0
Accretion / (amortization) of fair value adjustments				676
Debt outstanding				104,052	104,052	104,052
NPTI [Member] \| Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI	174,180
Fair value adjustments	(1,774)
Opening balance sheet fair value	172,406
Scheduled repayment				(3,459)
Other repayments				0
Accretion / (amortization) of fair value adjustments				69
Debt outstanding				169,016	169,016	169,016
NPTI [Member] \| CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI	69,333
Fair value adjustments	(1,029)
Opening balance sheet fair value	68,304
Scheduled repayment				(2,454)
Other repayments				0
Accretion / (amortization) of fair value adjustments				65
Debt outstanding				65,915	65,915	65,915
NPTI [Member] \| BCFL Lease Financing (LR2s) [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI	110,559
Fair value adjustments	(4,136)
Opening balance sheet fair value	106,423
Scheduled repayment				(2,439)
Other repayments				0
Accretion / (amortization) of fair value adjustments				203
Debt outstanding				104,187	104,187	104,187
NPTI [Member] \| CSSC Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Balance assumed from NPTI	280,819
Fair value adjustments	6,415
Opening balance sheet fair value	287,234
Scheduled repayment				(6,071)
Other repayments				(10,913)
Accretion / (amortization) of fair value adjustments				(285)
Debt outstanding				$ 269,965	$ 269,965	$ 269,965
NPTI Vessel Acquisition [Member]
Disclosure of detailed information about borrowings [line items]
Opening balance sheet fair value		113,856
NPTI Vessel Acquisition [Member] \| Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Release of restricted cash		$ 6,100
NPTI September Closing [Member]
Disclosure of detailed information about borrowings [line items]
Opening balance sheet fair value	793,519
NPTI September Closing [Member] \| CSSC Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Release of restricted cash	$ 10,900

Current and Long-Term Debt - 2011 credit facility (Details) - USD ($)	1 Months Ended		12 Months Ended
	Apr. 30, 2017	Feb. 28, 2017	Dec. 31, 2017	May 03, 2011
2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity				$ 150,000,000.0
Write-offs of deferred financing fees related to repayment of debt			$ 100,000
Gross carrying amount [member]
Disclosure of detailed information about borrowings [line items]
Repayments			546,296,000
Gross carrying amount [member] \| 2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments			93,041,000
Repayments, scheduled			800,000
STI Beryl, STI Le Rocher, STI Larvotto [Member]
Disclosure of detailed information about borrowings [line items]
Write-offs of deferred financing fees related to repayment of debt			100,000
STI Beryl, STI Le Rocher, STI Larvotto [Member] \| 2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments	$ 42,200,000
STI Emerald and STI Sapphire [Member]
Disclosure of detailed information about borrowings [line items]
Write-offs of deferred financing fees related to repayment of debt			500,000
Vessels [member] \| STI Beryl, STI Le Rocher, STI Larvotto [Member] \| Gross carrying amount [member] \| 2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments			42,200,000
Vessels [member] \| STI Emerald and STI Sapphire [Member] \| Gross carrying amount [member] \| 2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments			26,300,000
Vessels [member] \| STI Duchessa and STI Onyx [Member] \| 2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments		$ 23,700,000
Vessels [member] \| STI Duchessa and STI Onyx [Member] \| Gross carrying amount [member] \| 2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments			$ 23,700,000

Current and Long-Term Debt - K-sure credit facility (Details) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2014	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Debt outstanding		$ 2,767,193,000	$ 1,882,681,000
K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 458,300,000.0
Frequency of borrowings periodic payment	6 months
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Repayments		30,600,000
Unscheduled repayment of borrowings		30,200,000
Write-offs of deferred financing fees related to repayment of debt		500,000
Debt outstanding		239,900,000	$ 314,000,000
K-Sure Credit Facility- K-Sure Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 358,300,000.0
Percentage of borrowings covered	95.00%
Borrowings instrument term	12 years
K-Sure Credit Facility- Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 100,000,000.0
Borrowings instrument term	15 years
EBITDA To Interest Expense Ratio - Period One [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000
Consolidated Liquidity Requirement - Scenario Two [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	$ 250,000
Vessels [member] \| STI Soho [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments		$ 13,400,000
London Interbank Offered Rate (LIBOR) [Member] \| K-Sure Credit Facility- K-Sure Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.25%
London Interbank Offered Rate (LIBOR) [Member] \| Later than one year and not later than five years [member] \| K-Sure Credit Facility- Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	3.25%
London Interbank Offered Rate (LIBOR) [Member] \| Later than five years [member] \| K-Sure Credit Facility- Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	3.75%

Current and Long-Term Debt - KEXIM credit facility (Details)		1 Months Ended
	Jul. 18, 2014 USD ($)	Feb. 28, 2014 USD ($) repayment_installment	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2014 vessel
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000	$ 1,882,681,000
KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 429,600,000.0
Number of consecutive semi-annual repayments installments \| repayment_installment		10
Net debt to capitalization ratio		0.60
Consolidated tangible net worth		$ 1,000,000,000.0
Cumulative positive net income		25.00%
Net proceeds of equity issuance		50.00%
Debt outstanding			$ 333,000,000	$ 366,600,000
KEXIM Credit Facility- KEXIM Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 300,600,000.0
Reduced funding obligation percent	1.55%
Periodic payment percent	100.00%
Maturity term after delivery date		12 years
Borrowings instrument term		12 years
KEXIM Credit Facility- Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 129,000,000
Maturity term after delivery date		6 years
Borrowings instrument term		15 years
Floating Rate Guaranteed Notes Due 2019 Member - KEXIM Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 125,250,000
Optional guarantee, term	5 years
Construction in progress [member] \| Newbuilding Program [Member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of vessels purchased and delivered \| vessel					18
EBITDA To Interest Expense Ratio - Period One [Member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount		$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel		500,000
Consolidated liquidity requirement per each chartered-in vessel		$ 250,000
London Interbank Offered Rate (LIBOR) [Member] \| KEXIM Credit Facility- KEXIM Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		3.25%
London Interbank Offered Rate (LIBOR) [Member] \| Later than one year and not later than five years [member] \| KEXIM Credit Facility- Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		3.25%
London Interbank Offered Rate (LIBOR) [Member] \| Later than five years [member] \| KEXIM Credit Facility- Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		3.75%

Current and Long-Term Debt - Credit suisse credit facility (Details) - USD ($)	1 Months Ended
	Jul. 31, 2017	Oct. 31, 2015	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000	$ 1,882,681,000
Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 58,400,000.0
Borrowings instrument term		15 years
Borrowings first installment period		3 months
Frequency of borrowings periodic payment		3 months
Balloon payment term		5 years
Net debt to capitalization ratio		0.60
Consolidated tangible net worth		$ 677,300,000.0
Cumulative positive net income		25.00%
Net proceeds of equity issuance		50.00%
Minimum ratio for fair value of vessels		135.00%
Unscheduled repayment of borrowings	$ 3,900,000
Debt outstanding			$ 53,500,000.0
EBITDA To Interest Expense Ratio - Period One [Member] \| Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount		$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel		$ 500,000
London Interbank Offered Rate (LIBOR) [Member] \| Credit Suisse Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		2.40%

Current and Long-Term Debt - Schedule of drawdowns (Details) $ in Millions	1 Months Ended						12 Months Ended
	Dec. 31, 2017 USD ($)	Nov. 30, 2017 USD ($)	Oct. 31, 2017 USD ($)	Apr. 30, 2017 USD ($)	Feb. 28, 2017 USD ($)	Aug. 31, 2016 vessel	Dec. 31, 2017 USD ($) vessel
DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns				$ 81.4
DVB 2017 Credit Facility [Member] \| Vessels [member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel							4
DVB 2017 Credit Facility [Member] \| Vessels [member] \| STI Alexis [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							$ 28.3
DVB 2017 Credit Facility [Member] \| Vessels [member] \| STI Seneca [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							18.9
DVB 2017 Credit Facility [Member] \| Vessels [member] \| STI Milwaukee [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							17.9
DVB 2017 Credit Facility [Member] \| Vessels [member] \| STI Wembley [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							$ 16.3
2017 Credit Facility [Member] \| Vessels [member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel							7
2017 Credit Facility [Member] \| Vessels [member] \| STI Galata [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							$ 20.4
2017 Credit Facility [Member] \| Vessels [member] \| STI Bosphorus [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							20.4
2017 Credit Facility [Member] \| Vessels [member] \| STI Leblon [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							21.0
2017 Credit Facility [Member] \| Vessels [member] \| STI La Boca [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							21.0
2017 Credit Facility [Member] \| Vessels [member] \| STI San Telmo [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							20.6
2017 Credit Facility [Member] \| Vessels [member] \| STI Donald C Trauscht [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							20.7
2017 Credit Facility [Member] \| Vessels [member] \| STI Esles II [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns	$ 21.5						21.5
Credit Suisse Credit Facility [Member] \| Vessels [member] \| STI Selatar [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							29.4
Credit Suisse Credit Facility [Member] \| Vessels [member] \| STI Rambla [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							29.0
BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments							2.9
2016 Credit Facility [Member] \| Vessels [member] \| STI Amber [Member]
Disclosure of detailed information about borrowings [line items]
Repayments		$ 14.9
DVB 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments				$ 86.8
HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns					$ 31.1
HSH Credit Facility [Member] \| Vessels [member] \| STI Duchessa [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							16.5
HSH Credit Facility [Member] \| Vessels [member] \| STI Onyx [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns							$ 14.6
Repayments			$ 13.8
MR [Member] \| 2016 Credit Facility [Member] \| Vessels [member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel						16

Current and Long-Term Debt - ABN AMRO credit facility (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 31, 2015	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Debt outstanding		$ 2,767,193,000	$ 1,882,681,000
ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 142,200,000.0
Borrowings instrument term	15 years
Borrowings first installment period	3 months
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 677,300,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Minimum ratio for fair value of vessels	140.00%
Repayments		9,000,000
Unscheduled repayment of borrowings		4,000,000
Debt outstanding		$ 113,300,000	$ 126,400,000
Maturity term after delivery date	5 years
EBITDA To Interest Expense Ratio - Period One [Member] \| ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	$ 500,000
London Interbank Offered Rate (LIBOR) [Member] \| ABN AMRO Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.15%

Current and Long-Term Debt - ING credit facility (Details) - USD ($)	1 Months Ended
	Aug. 31, 2017	Jun. 30, 2015	Dec. 31, 2017	Dec. 31, 2016	Apr. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000	$ 1,882,681,000
ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 52,000,000.0				$ 132,500,000.0	$ 87,000,000.0
Borrowings instrument term		15 years
Borrowings first installment period		3 months
Net debt to capitalization ratio		0.60
Consolidated tangible net worth		$ 1,000,000,000.0
Cumulative positive net income		25.00%
Net proceeds of equity issuance		50.00%
Unscheduled repayment of borrowings	$ 8,900,000
Debt outstanding			$ 109,800,000	$ 124,300,000	$ 26,500,000
EBITDA To Interest Expense Ratio - Period One [Member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount		$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel		500,000
Consolidated liquidity requirement per each chartered-in vessel		$ 250,000
London Interbank Offered Rate (LIBOR) [Member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		1.95%

Current and Long-Term Debt - BNP paribas credit facility (Details) - USD ($)	1 Months Ended				12 Months Ended
	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2015
Disclosure of detailed information about borrowings [line items]
Debt outstanding	$ 2,767,193,000		$ 1,882,681,000		$ 2,767,193,000
BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity			62,100,000	$ 34,500,000.0		$ 34,500,000.0
Increase (decrease) in notional amount	13,200,000		27,600,000
Periodic borrowing payment amount				$ 1,700,000
Repayments of balloon payment						30,500,000
Net debt to capitalization ratio				0.60
Consolidated tangible net worth				$ 677,300,000.0
Cumulative positive net income				25.00%
Net proceeds of equity issuance				50.00%
Minimum ratio for fair value of vessels				140.00%
Repayments					2,900,000
Write-offs of deferred financing fees related to repayment of debt					500,000
Debt outstanding	$ 42,600,000		$ 32,200,000		42,600,000
EBITDA To Interest Expense Ratio - Period One [Member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum				1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum				2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount				$ 25,000,000.0		25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel				$ 500,000		$ 500,000
STI Emerald and STI Sapphire [Member]
Disclosure of detailed information about borrowings [line items]
Write-offs of deferred financing fees related to repayment of debt					500,000
STI Emerald and STI Sapphire [Member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments		$ 27,600,000
STI Emerald and STI Sapphire [Member] \| Vessels [member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments					$ 27,600,000
London Interbank Offered Rate (LIBOR) [Member] \| BNP Paribas Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.30%			1.95%	2.30%	1.95%

Current and Long-Term Debt - Scotiabank credit facility (Details)	1 Months Ended
	Aug. 31, 2017 USD ($)	Jun. 30, 2016 USD ($) repayment_installment	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jul. 02, 2013 USD ($)
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000	$ 1,882,681,000
Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of equal consecutive quarterly installments \| repayment_installment		12
Periodic borrowing payment amount		$ 600,000
Net debt to capitalization ratio		0.60
Consolidated tangible net worth		$ 1,000,000,000.0
Cumulative positive net income		25.00%
Net proceeds of equity issuance		50.00%
Minimum ratio for fair value of vessels		125.00%
Unscheduled repayment of borrowings	$ 2,200,000
Debt outstanding			$ 28,900,000	$ 32,200,000
EBITDA To Interest Expense Ratio - Period One [Member] \| Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount		$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel		500,000
STI Rose [Member] \| Vessels [member] \| Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 33,300,000.0
STI Rose [Member] \| Vessels [member] \| 2013 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity					$ 525,000,000.0
London Interbank Offered Rate (LIBOR) [Member] \| Scotiabank Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		1.50%

Current and Long-Term Debt - NIBC credit facility (Details)	1 Months Ended
	Aug. 31, 2017 USD ($)	Jun. 30, 2016 USD ($) tranche	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000	$ 1,882,681,000
NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of borrowing tranches \| tranche		2
Borrowings first installment period		3 months
Net debt to capitalization ratio		0.60
Consolidated tangible net worth		$ 1,000,000,000.0
Cumulative positive net income		25.00%
Net proceeds of equity issuance		50.00%
Unscheduled repayment of borrowings	$ 2,000,000
Debt outstanding			$ 34,700,000	$ 39,800,000
Consolidated Liquidity Requirement - Scenario One [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount		$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel		500,000
Consolidated liquidity requirement per each chartered-in vessel		$ 250,000
EBITDA To Interest Expense Ratio - Period One [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		2.50
STI Fontvieille And STI Ville [Member] \| Vessels [member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 40,800,000.0
London Interbank Offered Rate (LIBOR) [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		2.50%
Repayment Period One [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Periodic borrowing payment amount		$ 500,000
Minimum ratio for fair value of vessels		130.00%
Repayment Period Two [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Periodic borrowing payment amount		$ 400,000
Minimum ratio for fair value of vessels		135.00%
Repayment Period Three [Member] \| NIBC Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels		140.00%

Current and Long-Term Debt - 2016 credit facility (Details)	1 Months Ended
	Nov. 30, 2017 USD ($)	Sep. 30, 2017 USD ($)	Aug. 31, 2016 USD ($) vessel	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Disclosure of detailed information about borrowings [line items]
Debt outstanding				$ 2,767,193,000	$ 1,882,681,000
2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity			$ 288,000,000.0
Net debt to capitalization ratio			0.60
Consolidated tangible net worth			$ 1,000,000,000.0
Cumulative positive net income			25.00%
Net proceeds of equity issuance			50.00%
Minimum ratio for fair value of vessels			140.00%
Debt outstanding				$ 196,000,000	$ 281,200,000
2016 Term Loan [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity			$ 192,000,000.0
2016 Revolving Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity			$ 96,000,000.0
EBITDA To Interest Expense Ratio - Period One [Member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum			1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum			2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount			$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel			500,000
Consolidated liquidity requirement per each chartered-in vessel			$ 250,000
MR [Member] \| Vessels [member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel			16
Repayment Period One [Member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Periodic borrowing payment amount			$ 5,300,000
Repayment Period Two [Member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Periodic borrowing payment amount			$ 4,600,000
London Interbank Offered Rate (LIBOR) [Member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis			2.50%
STI Topaz, STI Ruby and STI Garnet [Member] \| Vessels [member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments		$ 44,600,000
STI Amber [Member] \| Vessels [member] \| 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments	$ 14,900,000

Current and Long-Term Debt - DVB 2016 credit facility (Details)	1 Months Ended		12 Months Ended
	Apr. 30, 2017 USD ($)	Sep. 30, 2016 USD ($) vessel	Dec. 31, 2017 vessel	Mar. 31, 2017 USD ($)
DVB 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 90,000,000.0
Repayments	$ 86,800,000
DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity				$ 81,400,000.0
Drawdowns	$ 81,400,000
Vessels [member] \| DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel			4
Vessels [member] \| STI Alexis, STI Milwaukee, STI Seneca and STI Wembley [Member] \| DVB 2016 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel		4

Current and Long-Term Debt - 2017 credit facility (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2017 USD ($) tranche	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($)
Disclosure of detailed information about borrowings [line items]
Debt outstanding		$ 2,767,193,000	$ 1,882,681,000
2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 172,000,000.0
Number of borrowing tranches \| tranche	5
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Deposit in debt service reserve account		4,100,000
Debt outstanding		$ 141,800,000
2017 Credit Facility - Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Number of borrowing tranches \| tranche	2
2017 Credit Facility - Commercial Tranche One [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 15,000,000.0
Borrowings instrument term	6 years
Repayment profile term	15 years
2017 Credit Facility - Commercial Tranche One [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.25%
2017 Credit Facility - Commercial Tranche Two [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 25,000,000.0
Borrowings instrument term	9 years
Repayment profile term	15 years
2017 Credit Facility - Commercial Tranche Two [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.25%
2017 Credit Facility - KEXIM Funded Tranche and GIEK Guaranteed Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings instrument term	12 years
Repayment profile term	12 years
2017 Credit Facility - KEXIM Funded Tranche and GIEK Guaranteed Tranche [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.15%
2017 Credit Facility - KEXIM Funded Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 52,000,000.0
2017 Credit Facility - GIEK Guaranteed Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	32,000,000.0
2017 Credit Facility - KEXIM Guaranteed Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 48,000,000.0
Borrowings instrument term	12 years
Repayment profile term	12 years
2017 Credit Facility - KEXIM Guaranteed Tranche [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	1.60%
Vessels [member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel		7
Availability to finance vessels, percentage of contract price		60.00%
Availability to finance vessels, percentage of fair market value		60.00%
EBITDA To Interest Expense Ratio - Period One [Member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	$ 250,000

Current and Long-Term Debt - HSH Nordbank credit facility (Details) - USD ($)	1 Months Ended		12 Months Ended
	Oct. 31, 2017	Feb. 28, 2017	Dec. 31, 2017	Jan. 31, 2017	Dec. 31, 2016	Aug. 31, 2016	May 03, 2011
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000		$ 1,882,681,000
HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity				$ 31,100,000.0
Drawdowns		$ 31,100,000
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Minimum ratio for fair value of vessels	140.00%
Debt outstanding			15,400,000
HSH Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis						2.50%
2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity							$ 150,000,000.0
BCFL Lease Financing (MRs) [Member]
Disclosure of detailed information about borrowings [line items]
Drawdowns	$ 22,200,000
Debt outstanding			109,200,000
Vessels [member] \| STI Duchessa and STI Onyx [Member] \| 2011 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments		$ 23,700,000
Vessels [member] \| STI Onyx [Member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Repayments	13,800,000
Drawdowns			$ 14,600,000
Repayment Period One [Member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Periodic borrowing payment amount	397,913
Repayment Period Two [Member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Periodic borrowing payment amount	$ 346,011
EBITDA To Interest Expense Ratio - Period One [Member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| HSH Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	$ 250,000

Current and Long-Term Debt - DVB 2017 credit facility (Details)	1 Months Ended		12 Months Ended
	Apr. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($)
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000	$ 1,882,681,000
DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity		$ 81,400,000.0
Periodic borrowing payment amount		$ 1,500,000
Net debt to capitalization ratio		0.60
Consolidated tangible net worth		$ 677,300,000
Cumulative positive net income		25.00%
Net proceeds of equity issuance		50.00%
Minimum ratio for fair value of vessels		140.00%
Drawdowns	$ 81,400,000
Debt outstanding			$ 78,400,000
DVB 2017 Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis		2.75%
Vessels [member] \| DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel			4
EBITDA To Interest Expense Ratio - Period One [Member] \| DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		1.50
EBITDA To Interest Expense Ratio - Period Two [Member] \| DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum		2.50
Consolidated Liquidity Requirement - Scenario One [Member] \| DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount		$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| DVB 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel		$ 500,000

Current and Long-Term Debt - Credit Agricole credit facility (Details) - USD ($)	1 Months Ended
	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Debt outstanding		$ 2,767,193,000	$ 1,882,681,000
Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Periodic borrowing payment amount	$ 2,100,000
Borrowings instrument term	15 years
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Minimum ratio for fair value of vessels	135.00%
Debt outstanding	$ 103,900,000
Credit Agricole Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.75%
Consolidated Liquidity Requirement - Scenario One [Member] \| Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| Credit Agricole Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	$ 250,000

Current and Long-Term Debt - ABN AMRO/K-Sure credit facility (Details)	1 Months Ended
	Sep. 30, 2017 USD ($) vessel tranche	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Disclosure of detailed information about borrowings [line items]
Debt outstanding		$ 2,767,193,000	$ 1,882,681,000
ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of borrowing tranches \| tranche	2
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Minimum ratio for fair value of vessels	135.00%
Deposit in debt service reserve account		500,000
Debt outstanding		$ 49,900,000
ABN AMRO / K-Sure Credit Facility - Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 11,500,000.0
ABN AMRO / K-Sure Credit Facility - Commercial Tranche [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.75%
ABN AMRO / K-Sure Credit Facility - K-Sure Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 43,800,000.0
Periodic borrowing payment amount	$ 1,000,000
Borrowings instrument term	12 years
ABN AMRO / K-Sure Credit Facility - K-Sure Tranche [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	1.80%
Consolidated Liquidity Requirement - Scenario One [Member] \| ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	$ 250,000
STI Precision And STI Prestige [Member] \| Vessels [member] \| ABN / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel	2

Current and Long-Term Debt - Citibank/K-Sure credit facility (Details)	1 Months Ended
	Sep. 30, 2017 USD ($) vessel tranche	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Disclosure of detailed information about borrowings [line items]
Debt outstanding		$ 2,767,193,000	$ 1,882,681,000
Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of borrowing tranches \| tranche	2
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Minimum ratio for fair value of vessels	135.00%
Deposit in debt service reserve account		4,000,000
Debt outstanding		$ 104,100,000
Citibank / K-Sure Credit Facility - Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	$ 25,100,000.0
Citibank / K-Sure Credit Facility - K-Sure Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Loan maximum borrowing capacity	91,200,000.0
Periodic borrowing payment amount	$ 2,100,000
Borrowings instrument term	12 years
Consolidated Liquidity Requirement - Scenario One [Member] \| Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	$ 250,000
Vessels [member] \| STI Excellence, STI Executive, STI Experience and STI Express [Member] \| Citi / K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Number of collateralized vessels refinanced \| vessel	4
London Interbank Offered Rate (LIBOR) [Member] \| Citibank / K-Sure Credit Facility - Commercial Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	2.50%
London Interbank Offered Rate (LIBOR) [Member] \| Citibank / K-Sure Credit Facility - K-Sure Tranche [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	1.60%

Current and Long-Term Debt - Lease financing arrangements (Details)		1 Months Ended				12 Months Ended
	Sep. 01, 2017 USD ($) vessel	Sep. 30, 2017 USD ($) vessel option	Apr. 30, 2016 USD ($)	Jan. 31, 2016 USD ($)	Jul. 31, 2015 USD ($)	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Disclosure of detailed information about borrowings [line items]
Payment to purchase property, plant and equipment				$ 13,800,000		$ 258,311,000	$ 126,842,000	$ 905,397,000
Finance lease						50,146,000	0
Debt outstanding						2,767,193,000	$ 1,882,681,000
BCFL Lease Financing (MRs) [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding						109,200,000
BCFL Lease Financing (MRs) [Member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Deposit minimum		$ 5,100,000
Minimum ratio for fair value of vessels		100.00%
BCFL Lease Financing (LR2s) [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding						104,200,000
Purchase obligation per vessel	$ 29,700,000
Deposit in debt service reserve account						800,000
BCFL Lease Financing (LR2s) [Member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Periodic payment per vessel						200,000
BCFL Lease Financing (LR2s) [Member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Periodic payment per vessel						300,000
BCFL Lease Financing (LR2s) [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	3.50%
CSSC Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels	125.00%
Debt outstanding						270,000,000
Periodic payment per vessel	$ 200,000
Purchase obligation per vessel	$ 111,400,000
Repayments		$ 10,900,000
CSSC Lease Financing [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	4.60%
CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels	115.00%
Debt outstanding						65,900,000
Periodic payment per vessel	$ 600,000
Purchase obligation per vessel	$ 40,200,000
Deposit in debt service reserve account						2,000,000
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
CMBFL Lease Financing [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	3.75%
Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Debt outstanding						169,000,000
Net debt to capitalization ratio	0.60
Consolidated tangible net worth	$ 1,000,000,000.0
Cumulative positive net income	25.00%
Net proceeds of equity issuance	50.00%
Ocean Yield Lease Financing [Member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Periodic payment per vessel	$ 200,000
Ocean Yield Lease Financing [Member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Periodic payment per vessel	$ 300,000
Ocean Yield Lease Financing [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Disclosure of detailed information about borrowings [line items]
Adjustment to interest rate basis	5.40%
Construction in progress [member]
Disclosure of detailed information about borrowings [line items]
Payment to purchase property, plant and equipment						$ 52,300,000
STI Lombard [Member] \| Construction in progress [member]
Disclosure of detailed information about borrowings [line items]
Consideration paid (received)					$ 59,000,000
Payment to purchase property, plant and equipment					$ 5,900,000
Term of finance lease					9 months
Finance lease daily rate					$ 10,000
STI Lombard [Member] \| Vessels [member]
Disclosure of detailed information about borrowings [line items]
Payment to purchase property, plant and equipment			$ 53,100,000
Finance lease								$ 53,400,000
Finance lease, percentage of purchase price			90.00%
STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx [Member]
Disclosure of detailed information about borrowings [line items]
Number of vessels under finance lease arrangements \| vessel						5
Consolidated Liquidity Requirement - Scenario One [Member] \| CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	$ 25,000,000.0
Consolidated Liquidity Requirement - Scenario One [Member] \| Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Covenant liquidity requirement amount	25,000,000.0
Consolidated Liquidity Requirement - Scenario Two [Member] \| CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	250,000
Consolidated Liquidity Requirement - Scenario Two [Member] \| Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Consolidated liquidity requirement per each owned vessel	500,000
Consolidated liquidity requirement per each chartered-in vessel	$ 250,000
MR [Member] \| STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx [Member] \| Vessels [member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Sale leaseback, option to purchase period		5 years
MR [Member] \| STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx [Member] \| Vessels [member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Sale leaseback, option to purchase period		10 years
MR [Member] \| STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx [Member] \| Vessels [member] \| BCFL Lease Financing (MRs) [Member]
Disclosure of detailed information about borrowings [line items]
Finance lease daily rate		$ 9,025
Number of vessels under finance lease arrangements \| vessel		5
Sale leaseback transaction, gross proceeds per vessel		$ 27,500,000
Sale leaseback transaction, term		7 years
Number of options in sale leaseback \| option		3
Sale leaseback, option term		1 year
Sale leaseback, deposit per vessel		$ 5,100,000
NPTI September Closing [Member] \| LR2 [Member] \| STI Solace, STI Solidarity and STI Stability [Member] \| Vessels [member] \| BCFL Lease Financing (LR2s) [Member]
Disclosure of detailed information about borrowings [line items]
Number of vessels under finance lease arrangements \| vessel	3
Bareboat charter term	10 years
NPTI September Closing [Member] \| LR2 [Member] \| STI Gallantry, STI Nautilus, STI Guard, STI Guide, STI Goal, STI Gauntlet, STI Gladiator, STI Gratitude [Member] \| Vessels [member] \| CSSC Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Number of vessels under finance lease arrangements \| vessel	8
Bareboat charter term	10 years
NPTI September Closing [Member] \| LR2 [Member] \| STI Pride and STI Providence [Member] \| Vessels [member] \| CMBFL Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Number of vessels under finance lease arrangements \| vessel	2
Bareboat charter term	7 years
NPTI September Closing [Member] \| LR2 [Member] \| STI Sanctity, STI Steadfast, STI Supreme and STI Symphony [Member] \| Vessels [member] \| Ocean Yield Lease Financing [Member]
Disclosure of detailed information about borrowings [line items]
Number of vessels under finance lease arrangements \| vessel	4
Bareboat charter term	13 years

Current and Long-Term Debt - Unsecured senior notes due 2020 (Details) - USD ($)			1 Months Ended
	Jun. 09, 2014	May 12, 2014	Jun. 09, 2014	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Debt outstanding				$ 2,767,193,000	$ 1,882,681,000
Unsecured Senior Notes Due 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount notes issued		$ 50,000,000.0
Borrowings interest rate		6.75%
Drawdowns	$ 3,750,000		$ 51,800,000
Minimum denominations		$ 25.00
Integral multiples		$ 25.00
Net borrowings limit		70.00%
Consolidated tangible net worth		$ 650,000,000.0
Debt outstanding				$ 53,750,000	$ 53,750,000
Borrowings, Redemption, Period One [Member] \| Unsecured Senior Notes Due 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Repurchased face amount percentage		100.00%
Borrowings, Redemption, Period Two [Member] \| Unsecured Senior Notes Due 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Repurchased face amount percentage		101.00%

Current and Long-Term Debt - Convertible senior notes due 2019 (Details)															1 Months Ended				12 Months Ended
	Dec. 13, 2017	Sep. 25, 2017	May 11, 2017	Feb. 23, 2017	Nov. 25, 2016	Sep. 15, 2016	May 11, 2016	Mar. 10, 2016	Nov. 24, 2015	Aug. 14, 2015	May 21, 2015	Mar. 13, 2015	Nov. 25, 2014	Aug. 22, 2014	May 31, 2016 USD ($)	Mar. 31, 2016 USD ($)	Jul. 31, 2015 USD ($)	Jun. 30, 2014 USD ($) business_day $ / shares shares	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Disclosure of detailed information about borrowings [line items]
Common stock repurchase amount																			$ 0	$ 16,505,000	$ 76,028,000
Debt outstanding																			2,767,193,000	1,882,681,000
Write-off of deferred financing fees																			2,467,000	14,479,000	2,730,000
Interest expense on borrowings																			86,703,000	63,858,000	61,082,000
Non-cash accretion																			$ 12,211,000	11,562,000	$ 11,096,000
Convertible Notes [Member]
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount notes issued																		$ 360,000,000.0
Purchasing option																		60,000,000.0
Drawdowns																		349,000,000
Payments for debt issue costs																		$ 11,000,000
Borrowings interest rate																		2.375%
Convertible conversion rate	0.0987742	0.0984450	0.0981588	0.0979316	0.0977039	0.0949345	0.0925323	0.0905311	0.0886790	0.0874349	0.0863738	0.0852216	0.0840184	0.0828556	0.8475	0.83105	1.08810	0.0820075	0.0987742
Initial conversion price \| $ / shares																		$ 12.19
Debt outstanding																		$ 298,700,000	$ 328,700,000	316,500,000
Carrying amount of equity component																		$ 61,300,000
Notes repurchased amount															$ 5,000,000.0	$ 5,000,000.0	$ 1,500,000.0
Carrying amount of liability component reduction															4,400,000	4,400,000	1,300,000
Carrying amount of equity component reduction															200,000	300,000	400,000
Gain on extinguishment of borrowings before write off of debt issue costs															400,000	600,000	46,273
Write-off of deferred financing fees															100,000	100,000	$ 30,880
Repayments															$ 4,200,000	$ 4,200,000
Interest expense on borrowings																			8,300,000	8,300,000
Non-cash accretion																			$ 12,200,000	$ 11,600,000
Borrowings, Redemption, Period One [Member] \| Convertible Notes [Member]
Disclosure of detailed information about borrowings [line items]
Threshold consecutive or non-consecutive trading days																		15 days
Threshold consecutive trading days																		25 days
Common stock closing price as percentage of conversion price minimum																		130.00%
Repurchased face amount percentage																		100.00%
Borrowings, Redemption, Period Two [Member] \| Convertible Notes [Member]
Disclosure of detailed information about borrowings [line items]
Threshold consecutive trading days																		5 days
Common stock closing price as percentage of conversion price minimum																		98.00%
Threshold trading days \| business_day																		5
Repurchased face amount percentage																		100.00%
2014 Stock Buyback Program - Purchase Through Proceeds From Issuance Of Convertible Borrowings [Member] \| Common stock [member] \| Convertible Notes [Member]
Disclosure of detailed information about borrowings [line items]
Common stock repurchase amount																		$ 95,000,000
Purchase of treasury shares (in shares) \| shares																		10,127,600
Common stock, par value (in dollars per share) \| $ / shares																		$ 9.38

Current and Long-Term Debt - Schedule of dividends declared from issuance of the Convertible Notes (Details) - Convertible Notes [Member]															1 Months Ended				12 Months Ended
	Dec. 13, 2017 $ / shares	Sep. 25, 2017 $ / shares	May 11, 2017 $ / shares	Feb. 23, 2017 $ / shares	Nov. 25, 2016 $ / shares	Sep. 15, 2016 $ / shares	May 11, 2016 $ / shares	Mar. 10, 2016 $ / shares	Nov. 24, 2015 $ / shares	Aug. 14, 2015 $ / shares	May 21, 2015 $ / shares	Mar. 13, 2015 $ / shares	Nov. 25, 2014 $ / shares	Aug. 22, 2014 $ / shares	May 31, 2016	Mar. 31, 2016	Jul. 31, 2015	Jun. 30, 2014	Dec. 31, 2017
Disclosure of detailed information about borrowings [line items]
Dividends per share (in USD per share)	$ 0.010	$ 0.010	$ 0.010	$ 0.010	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.120	$ 0.120	$ 0.100
Convertible conversion rate	0.0987742	0.0984450	0.0981588	0.0979316	0.0977039	0.0949345	0.0925323	0.0905311	0.0886790	0.0874349	0.0863738	0.0852216	0.0840184	0.0828556	0.8475	0.83105	1.08810	0.0820075	0.0987742

Current and Long-Term Debt - Unsecured senior notes due 2017 (Details) - Unsecured Senior Notes Due 2017 [Member] - USD ($)		1 Months Ended
	Nov. 17, 2014	Oct. 31, 2017	Apr. 30, 2017	Oct. 31, 2014
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount notes issued				$ 45,000,000.0
Borrowings interest rate				7.50%
Drawdowns	$ 6,750,000			$ 49,900,000
Repayments		$ 45,500,000	$ 6,300,000

Current and Long-Term Debt - Unsecured senior notes due 2019 (Details) - USD ($)	1 Months Ended
	Apr. 30, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about borrowings [line items]
Debt outstanding			$ 2,767,193,000	$ 1,882,681,000
Unsecured Senior Notes Due 2019 [Member]
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount notes issued		$ 50,000,000
Borrowings interest rate		8.25%
Drawdowns	$ 7,500,000	$ 55,300,000
Minimum denominations		25.00
Integral multiples		$ 25.00
Net borrowings limit		70.00%
Consolidated tangible net worth		$ 650,000,000.0
Debt outstanding			$ 57,500,000
Borrowings, Redemption, Period One [Member] \| Unsecured Senior Notes Due 2019 [Member]
Disclosure of detailed information about borrowings [line items]
Repurchased face amount percentage		100.00%
Borrowings, Redemption, Period Two [Member] \| Unsecured Senior Notes Due 2019 [Member]
Disclosure of detailed information about borrowings [line items]
Repurchased face amount percentage		101.00%

Derivative Financial Instruments - Narrative (Details) - USD ($)	1 Months Ended
	Feb. 28, 2015	Dec. 31, 2017	Nov. 30, 2017	Dec. 31, 2016
Disclosure of detailed information about financial instruments [line items]
Current derivative financial assets		$ 0		$ 116,000
Vessels [member] \| Densa Crocodile [Member] \| LR2 [Member]
Disclosure of detailed information about financial instruments [line items]
Term of lease	1 year
Lease payments, daily rate	$ 21,050	$ 14,750
Lease payments, extension, daily rate	$ 22,600		$ 15,750
Vessels [member] \| Densa Crocodile [Member] \| LR2 [Member] \| Profit and loss agreement [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of profit and loss sharing in a derivative arrangement	50.00%
Current derivative financial assets				$ 100,000

Derivative Financial Instruments - Schedule of Fair Value Adjustments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about financial instruments [line items]
Realized gain recognised in profit and loss	$ (116)	$ 0	$ 55
Unrealized gain (loss) recognised in profit and loss	0	1,371	(1,255)
Unrealized gain on derivative financial instruments	0	0	77
Interest rate swap contract [member]
Disclosure of detailed information about financial instruments [line items]
Realized gain recognised in profit and loss			55
Unrealized gain (loss) recognised in profit and loss			0
Unrealized gain on derivative financial instruments			77
Profit and loss agreement [member] \| Profit and loss agreement [member]
Disclosure of detailed information about financial instruments [line items]
Realized gain recognised in profit and loss	(116)	0	0
Unrealized gain (loss) recognised in profit and loss	0	1,371	(1,255)
Unrealized gain on derivative financial instruments	$ 0	$ 0	$ 0

Segment Reporting - Information About Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of operating segments [line items]
Vessel revenue	$ 512,732	$ 522,747	$ 755,711
Vessel operating costs	(231,227)	(187,120)	(174,556)
Voyage expenses	(7,733)	(1,578)	(4,432)
Charterhire	(75,750)	(78,862)	(96,865)
Depreciation	(141,418)	(121,461)	(107,356)
General and administrative expenses	(47,511)	(54,899)	(65,831)
Loss on sales of vessels, net	(23,345)	(2,078)	(35)
Merger transaction related costs	(36,114)	0	0
Bargain purchase gain	5,417	0	0
Write-off of vessel purchase options	0	0	(731)
Gain on sale of Dorian shares	0	0	1,179
Financial expenses	(116,240)	(104,048)	(89,596)
Realized (loss) / gain on derivative financial instruments	(116)	0	55
Unrealized gain / (loss) on derivative financial instruments	0	1,371	(1,255)
Financial income	1,538	1,213	145
Other expenses, net	1,527	(188)	1,316
Net (loss) / income	(158,240)	(24,903)	217,749
Reportable segments [member]
Disclosure of operating segments [line items]
Vessel revenue	512,732	521,697	755,561
Vessel operating costs	(231,227)	(187,120)	(174,556)
Voyage expenses	(7,733)	(1,578)	(4,432)
Charterhire	(75,750)	(78,862)	(96,865)
Depreciation	(141,418)	(121,461)	(107,356)
General and administrative expenses	(10,023)	(7,885)	(7,271)
Loss on sales of vessels, net	(23,345)	(2,078)	(35)
Merger transaction related costs	0
Bargain purchase gain	0
Write-off of vessel purchase options			(731)
Gain on sale of Dorian shares			0
Financial expenses	0	0	0
Realized (loss) / gain on derivative financial instruments	(116)		0
Unrealized gain / (loss) on derivative financial instruments		1,371	(1,255)
Financial income	593	90	46
Other expenses, net	1,876	(9)	1,377
Net (loss) / income	25,589	124,165	364,483
Reportable segments [member] \| LR1/Panamax [Member]
Disclosure of operating segments [line items]
Vessel revenue	22,573	5,843	36,679
Vessel operating costs	(12,561)	(33)	(2,144)
Voyage expenses	(1,018)	(19)	(1,186)
Charterhire	(2,230)	(5,657)	(21,616)
Depreciation	(7,828)	0	0
General and administrative expenses	(479)	(7)	(96)
Loss on sales of vessels, net	0	0	2,019
Merger transaction related costs	0
Bargain purchase gain	0
Write-off of vessel purchase options			0
Gain on sale of Dorian shares			0
Financial expenses	0	0	0
Realized (loss) / gain on derivative financial instruments	0		0
Unrealized gain / (loss) on derivative financial instruments		0	0
Financial income	26	0	0
Other expenses, net	0	0	1,397
Net (loss) / income	(1,517)	127	15,053
Reportable segments [member] \| Handymax [Member]
Disclosure of operating segments [line items]
Vessel revenue	95,098	85,578	142,429
Vessel operating costs	(50,145)	(32,817)	(35,254)
Voyage expenses	(3,087)	(479)	(536)
Charterhire	(24,560)	(26,292)	(26,755)
Depreciation	(18,159)	(18,014)	(18,372)
General and administrative expenses	(2,170)	(1,410)	(1,390)
Loss on sales of vessels, net	0	0	(2,054)
Merger transaction related costs	0
Bargain purchase gain	0
Write-off of vessel purchase options			0
Gain on sale of Dorian shares			0
Financial expenses	0	0	0
Realized (loss) / gain on derivative financial instruments	0		0
Unrealized gain / (loss) on derivative financial instruments		0	0
Financial income	214	6	7
Other expenses, net	1,876	0	0
Net (loss) / income	(933)	6,572	58,075
Reportable segments [member] \| LR2 [Member]
Disclosure of operating segments [line items]
Vessel revenue	157,123	165,256	208,250
Vessel operating costs	(67,254)	(50,028)	(36,682)
Voyage expenses	(2,642)	(375)	(194)
Charterhire	(6,258)	(16,025)	(27,816)
Depreciation	(54,922)	(41,900)	(29,125)
General and administrative expenses	(2,805)	(1,983)	(1,456)
Loss on sales of vessels, net	0	0	0
Merger transaction related costs	0
Bargain purchase gain	0
Write-off of vessel purchase options			0
Gain on sale of Dorian shares			0
Financial expenses	0	0	0
Realized (loss) / gain on derivative financial instruments	(116)		0
Unrealized gain / (loss) on derivative financial instruments		1,371	(1,255)
Financial income	15	37	12
Other expenses, net	0	0	0
Net (loss) / income	23,141	56,353	111,734
Reportable segments [member] \| MR [Member]
Disclosure of operating segments [line items]
Vessel revenue	237,938	265,020	368,203
Vessel operating costs	(101,267)	(104,242)	(100,476)
Voyage expenses	(986)	(705)	(2,516)
Charterhire	(42,702)	(30,888)	(20,678)
Depreciation	(60,509)	(61,547)	(59,859)
General and administrative expenses	(4,569)	(4,485)	(4,329)
Loss on sales of vessels, net	(23,345)	(2,078)	0
Merger transaction related costs	0
Bargain purchase gain	0
Write-off of vessel purchase options			(731)
Gain on sale of Dorian shares			0
Financial expenses	0	0	0
Realized (loss) / gain on derivative financial instruments	0		0
Unrealized gain / (loss) on derivative financial instruments		0	0
Financial income	338	47	27
Other expenses, net	0	(9)	(20)
Net (loss) / income	4,898	61,113	179,621
Corporate and eliminations [member]
Disclosure of operating segments [line items]
Vessel revenue	0	1,050	150
Vessel operating costs	0	0	0
Voyage expenses	0	0	0
Charterhire	0	0	0
Depreciation	0	0	0
General and administrative expenses	(37,488)	(47,014)	(58,560)
Loss on sales of vessels, net	0	0	0
Merger transaction related costs	(36,114)
Bargain purchase gain	5,417
Write-off of vessel purchase options			0
Gain on sale of Dorian shares			1,179
Financial expenses	(116,240)	(104,048)	(89,596)
Realized (loss) / gain on derivative financial instruments	0		55
Unrealized gain / (loss) on derivative financial instruments		0	0
Financial income	945	1,123	99
Other expenses, net	(349)	(179)	(61)
Net (loss) / income	$ (183,829)	$ (149,068)	$ (146,734)

Segment Reporting - Revenue from Major Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
MR [Member] \| Other related parties [member] \| Scorpio MR Pool Limited [Member]
Disclosure of major customers [line items]
Pool revenue	$ 217,141	$ 248,974	$ 315,925
LR2 [Member] \| Other related parties [member] \| Scorpio LR2 Pool Limited [Member]
Disclosure of major customers [line items]
Pool revenue	136,514	156,503	208,132
Handymax [Member] \| Other related parties [member] \| Scorpio Handymax Tanker Pool Limited [Member]
Disclosure of major customers [line items]
Pool revenue	78,510	73,683	138,736
Panamax [Member] \| Other related parties [member] \| Scorpio Panamax Tanker Pool Limited [Member]
Disclosure of major customers [line items]
Pool revenue	1,515	5,843	34,613
MR, LR2, Handymax and Panamax
Disclosure of major customers [line items]
Pool revenue	$ 433,680	$ 485,003	$ 697,406

Common Shares - Narrative (Details) $ / shares in Units, warrant in Millions				1 Months Ended											3 Months Ended	12 Months Ended
	Sep. 01, 2017 shares vessel $ / shares	Jun. 14, 2017 shares	May 30, 2017 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) warrant shares $ / shares	Jun. 30, 2017 shares	May 31, 2017 USD ($) $ / shares shares	Jul. 31, 2016 USD ($) shares	Jul. 31, 2015 USD ($) shares	May 31, 2015 USD ($) $ / shares shares	Nov. 30, 2014 USD ($) shares	Sep. 30, 2014 USD ($) shares $ / shares	May 31, 2014 USD ($) shares	Feb. 28, 2014 USD ($) shares	Oct. 31, 2013 USD ($) shares $ / shares	Jun. 30, 2013 USD ($) shares	Dec. 31, 2017 USD ($) warrant shares $ / shares	Dec. 31, 2016 USD ($) shares $ / shares	Dec. 31, 2015 USD ($) shares	Oct. 31, 2017 $ / shares shares	Jun. 30, 2016 $ / shares shares	Apr. 30, 2013 shares
Disclosure of classes of share capital [line items]
Issuance of shares \| $																$ 303,500,000	$ 0	$ 159,747,000
Equity issuance costs \| $																	$ 24,000
Common stock, par value (in dollars per share) \| $ / shares				$ 0.01												$ 0.01
2013 Equity Incentive Plan [Member]
Disclosure of classes of share capital [line items]
Shares reserved for issuance (in shares)																					5,000,000
Maximum years grants are exercisable																10 years
Restricted Stock [Member]
Disclosure of classes of share capital [line items]
Number of shares, granted (in shares)																10,922,799	2,301,115
Weighted average grant date fair value, granted (in USD per share) \| $																$ 3.09	$ 4.74
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of classes of share capital [line items]
Remaining shares available for issuance (in shares)				0												0
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Employees [Member]
Disclosure of classes of share capital [line items]
Number of shares, granted (in shares)				9,973,799			1,864,615	1,466,944		938,131			2,011,000	3,749,998	4,610,000
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Employees [Member] \| First vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage							33.00%	33.00%		33.00%			33.00%	33.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Employees [Member] \| Second vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage							33.00%	33.00%		33.00%			33.00%	33.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Employees [Member] \| Third vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage							33.00%	33.00%		33.00%			33.00%	33.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Directors [Member]
Disclosure of classes of share capital [line items]
Number of shares, granted (in shares)				600,000			150,000	100,000		50,000			145,045	250,000	390,000
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Directors [Member] \| First vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage				33.00%									33.00%	50.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Directors [Member] \| Second vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage				33.00%									33.00%	50.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Directors [Member] \| Third vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage				33.00%									33.00%		33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Employees and Directors [Member]
Disclosure of classes of share capital [line items]
Weighted average grant date fair value, granted (in USD per share) \| $										$ 8.57			$ 9.30	$ 9.85	$ 8.69
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| SSH Employees [Member]
Disclosure of classes of share capital [line items]
Number of shares, granted (in shares)				349,000			286,500	290,500			5,000	213,000
Weighted average grant date fair value, granted (in USD per share) \| $											$ 9.13	$ 8.89
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| SSH Employees [Member] \| First vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage				33.00%			33.00%	33.00%			33.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| SSH Employees [Member] \| Second vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage				33.00%			33.00%	33.00%			33.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| SSH Employees [Member] \| Third vesting percentage
Disclosure of classes of share capital [line items]
Vested shares percentage				33.00%			33.00%	33.00%			33.00%	33.00%
Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Employees, Directors and SSH Employees [Member]
Disclosure of classes of share capital [line items]
Weighted average grant date fair value, granted (in USD per share) \| $				$ 3.09			$ 4.74	$ 10.32
Common stock [member]
Disclosure of classes of share capital [line items]
Common stock, shares issued (in shares)				326,507,544												326,507,544	174,629,755
Common stock, par value (in dollars per share) \| $ / shares				$ 0.01												$ 0.01	$ 0.01
Common stock [member] \| 2013 Equity Incentive Plan [Member]
Disclosure of classes of share capital [line items]
Shares reserved for issuance (in shares)									1,755,443		1,088,131			6,376,044			1,348,992		9,501,807	2,301,115
Common stock, par value (in dollars per share) \| $ / shares									$ 0.01		$ 0.01			$ 0.01			$ 0.01		$ 0.01	$ 0.01
Other related parties [member] \| Scorpio Services Holding Limited (SSH) [Member] \| Restricted Stock [Member]
Disclosure of classes of share capital [line items]
Number of shares, granted (in shares)																1,144,000	795,000	508,500
NPTI [Member]
Disclosure of classes of share capital [line items]
Price per share (in USD per share) \| $ / shares				$ 4.02												$ 4.02
NPTI [Member] \| Common stock [member]
Disclosure of classes of share capital [line items]
Common stock, shares issued (in shares)			50,000,000
Number of instruments or interests issued or issuable	54,999,990
Price per share (in USD per share) \| $ / shares			$ 4.00
Issuance of shares \| $			$ 188,700,000
NPTI [Member] \| Warrant [Member]
Disclosure of classes of share capital [line items]
Number of instruments or interests issued or issuable \| warrant				1.5												1.5
Exercise price (in USD per warrant) \| $ / shares				$ 0.01												$ 0.01
NPTI Vessel Acquisition [Member] \| Common stock [member]
Disclosure of classes of share capital [line items]
Shares issued upon exercise of warrants (in shares)		222,224			222,224
NPTI September Closing [Member] \| Common stock [member]
Disclosure of classes of share capital [line items]
Number of instruments or interests issued or issuable	54,999,990
Shares issued upon exercise of warrants (in shares)	1,277,776
NPTI September Closing [Member] \| Warrant [Member]
Disclosure of classes of share capital [line items]
Exercise price (in USD per warrant) \| $ / shares	$ 0.01
Vessels [member] \| NPTI September Closing [Member]
Disclosure of classes of share capital [line items]
Number of vessels acquired \| vessel	23
Public Offering [Member] \| Common stock [member]
Disclosure of classes of share capital [line items]
Common stock, shares issued (in shares)				34,500,000					17,177,123							34,500,000
Price per share (in USD per share) \| $ / shares				$ 3.00					$ 9.30							$ 3.00
Issuance of shares \| $				$ 99,600,000					$ 152,100,000
Equity issuance costs \| $									$ 7,600,000
Public Offering [Member] \| Other related parties [member] \| Scorpio Services Holding Limited (SSH) [Member] \| Common stock [member]
Disclosure of classes of share capital [line items]
Common stock, shares issued (in shares)				6,700,000												6,700,000
Public Offering [Member] \| NPTI [Member] \| Common stock [member]
Disclosure of classes of share capital [line items]
Common stock, shares issued (in shares)						50,000,000
Price per share (in USD per share) \| $ / shares						$ 4.00
Issuance of shares \| $						$ 188,700,000

Common Shares - Vesting schedule of restricted stock (Details) - Employees [Member] - 2013 Equity Incentive Plan [Member] - Restricted Stock [Member]	1 Months Ended
	Dec. 31, 2017 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	9,973,799
First vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	360,439
Second vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	670,262
Third vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	1,258,576
Fourth vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	1,395,762
Fifth vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	670,262
Sixth vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	1,258,576
Seventh vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	1,395,762
Eighth vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	670,259
Ninth vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	1,258,578
Tenth vesting period
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting shares (in shares)	1,035,323

Common Shares - Summary of restricted stock awards (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($) shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares, outstanding and non-vested (in shares) \| shares	12,613,585	13,611,270
Number of shares, granted (in shares) \| shares	10,922,799	2,301,115
Number of shares, vested (in shares) \| shares	(4,236,973)	(3,248,800)
Number of shares, forfeited (in shares) \| shares	(45,000)	(50,000)
Number of shares, outstanding and non-vested (in shares) \| shares	19,254,411	12,613,585
Weighted average grant date fair value, outstanding and non-vested (in USD per share) \| $	$ 8.52	$ 9.32
Weighted average grant date fair value, granted (in USD per share) \| $	3.09	4.74
Weighted average grant date fair value, vested (in USD per share) \| $	8.99	9.19
Weighted average grant date fair value, forfeited (in USD per share) \| $	7.59	7.80
Weighted average grant date fair value, outstanding and non-vested (in USD per share) \| $	$ 5.34	$ 8.52

Common Shares - Stock compensation expense (Details) - Restricted Stock [Member] $ in Thousands	Dec. 31, 2017 USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected stock compensation expense, 2018	$ 22,056
Expected stock compensation expense, 2019	14,611
Expected stock compensation expense, 2020	8,737
Expected stock compensation expense, 2021	3,779
Expected stock compensation expense, 2022	927
Total expected stock compensation expense	50,110
Directors [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected stock compensation expense, 2018	1,137
Expected stock compensation expense, 2019	465
Expected stock compensation expense, 2020	153
Expected stock compensation expense, 2021	0
Expected stock compensation expense, 2022	0
Total expected stock compensation expense	1,755
Employees [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected stock compensation expense, 2018	20,919
Expected stock compensation expense, 2019	14,146
Expected stock compensation expense, 2020	8,584
Expected stock compensation expense, 2021	3,779
Expected stock compensation expense, 2022	927
Total expected stock compensation expense	$ 48,355

Common Shares - Stock and securities repurchase program (Details) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2017 USD ($) security	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares	May 31, 2015 USD ($)
Disclosure of classes of share capital [line items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.01
Common stock and Preference shares [member]
Disclosure of classes of share capital [line items]
Shares authorized (in shares)			425,000,000
Common stock [member]
Disclosure of classes of share capital [line items]
Common shares held in treasury		49,980,592	49,980,592
Shares authorized (in shares)		400,000,000	400,000,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01	$ 0.01
Common stock, shares outstanding (in shares)		174,629,755	326,507,544
Preference shares [member]
Disclosure of classes of share capital [line items]
Shares authorized (in shares)			25,000,000
Common stock, par value (in dollars per share) \| $ / shares			$ 0.01
2015 Securities Repurchase Program [Member] \| Common stock [member]
Disclosure of classes of share capital [line items]
Authorized amount of share repurchase \| $				$ 250.0
Entity's shares acquired (in shares)		2,956,760
Common stock, par value (in dollars per share) \| $ / shares		$ 5.58
Stock buyback program, remaining authorized amount \| $			$ 147.1
Senior Notes due 2017 [Member] \| 2015 Securities Repurchase Program [Member]
Disclosure of classes of share capital [line items]
Borrowings, number of securities repurchased \| security	250,419
Acquired principal amount of convertible notes \| $	$ 6.3
Convertible Notes [Member] \| 2015 Securities Repurchase Program [Member]
Disclosure of classes of share capital [line items]
Acquired principal amount of convertible notes \| $		$ 10.0
Conversion ratio		0.83928

Related Party Transactions - Narrative (Details)			12 Months Ended
Related Party Transactions - Narrative (Details)	Jan. 01, 2018 USD ($)	Sep. 28, 2016	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel	Dec. 31, 2015 USD ($) vessel	May 31, 2016 vessel	Apr. 30, 2016 vessel	Mar. 31, 2016 vessel
Disclosure of transactions between related parties [line items]
Number of vessels sold \| vessel						2	1	2
Scorpio Services Holding Limited (SSH) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Prior fee payable upon any future vessel sale or purchase		1.00%
Aggregate management fee					$ 12,600,000
Number of vessels purchased and delivered \| vessel					29
Number of vessels sold \| vessel					4
Reimbursement of expenses			$ 500,000	$ 600,000	$ 200,000
Scorpio Commercial Management SAM (SCM) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Termination fee			200,000	2,700,000
SSM [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Fixed annual technical management fee			250,000
Termination fee			200,000	2,500,000
Reimbursement of expenses			0	$ 0	0
Agreement supervision expense			$ 700,000
Construction in progress [member]
Disclosure of transactions between related parties [line items]
Number of vessels \| vessel			2	10
STI Galata, STI Bosphorus, STI Leblon, STI La Boca, STI San Telmo And STI Donald C. Trauscht [Member] \| Scorpio Services Holding Limited (SSH) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Aggregate management fee			$ 2,200,000
STI Lexington, STI Mythos, STI Chelsea, STI Olivia, and STI Powai [Member]
Disclosure of transactions between related parties [line items]
Number of vessels sold \| vessel				5
STI Lexington, STI Mythos, STI Chelsea, STI Olivia, and STI Powai [Member] \| Scorpio Services Holding Limited (SSH) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Aggregate management fee				$ 1,700,000
STI Lombard [Member] \| Scorpio Services Holding Limited (SSH) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Aggregate management fee				$ 600,000
STI Highlander [Member] \| Scorpio Commercial Management SAM (SCM) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Termination fee					500,000
STI Highlander [Member] \| SSM [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Termination fee					$ 500,000
MR [Member] \| Construction in progress [member]
Disclosure of transactions between related parties [line items]
Number of vessels \| vessel			2
MR [Member] \| Construction in progress [member] \| SSM [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Number of vessels \| vessel			8
Significant Agreement Amendment [Member] \| SSM [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Fixed annual technical management fee	$ 175,000

Related Party Transactions - Related Party Statement of Income or Loss (Details)	12 Months Ended
	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares
Disclosure of transactions between related parties [line items]
Voyage expenses	$ (1,786,000)	$ (1,128,000)	$ (2,127,000)
Vessel operating costs	(22,909,000)	(19,484,000)	(18,393,000)
Administrative expenses	$ (10,744,000)	(9,462,000)	(7,950,000)
Commission on gross revenue, per charter fixture	1.25%
Restricted stock amortization	$ 22,385,000	$ 30,207,000	33,687,000
Restricted Stock [Member]
Disclosure of transactions between related parties [line items]
Issuance of restricted stock, net of forfeitures (in shares) \| shares	10,922,799	2,301,115
LR1/Panamax [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when out of pools	$ 250
LR2/Aframax [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when out of pools	250
Handymax [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when out of pools	300
MR [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when out of pools	300
Other related parties [member] \| Scorpio MR Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Pool revenue	217,141,000	$ 248,974,000	315,925,000
Other related parties [member] \| Scorpio LR2 Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Pool revenue	136,514,000	156,503,000	208,132,000
Other related parties [member] \| Scorpio Handymax Tanker Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Pool revenue	78,510,000	73,683,000	138,736,000
Other related parties [member] \| Scorpio LR1 Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Pool revenue	13,895,000	0	0
Other related parties [member] \| Scorpio Panamax Tanker Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Pool revenue	1,515,000	5,843,000	34,613,000
Other related parties [member] \| Scorpio Aframax Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Pool revenue	$ 1,170,000	0	0
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member]
Disclosure of transactions between related parties [line items]
Commission on gross revenue, per charter fixture	1.50%
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member] \| LR1/Panamax [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when in pools	$ 300
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member] \| Aframax [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when in pools	300
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member] \| LR2 [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when in pools	250
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member] \| Handymax [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when in pools	325
Other related parties [member] \| Scorpio Commercial Management SAM (SCM) [Member] \| MR [Member]
Disclosure of transactions between related parties [line items]
Fees charged by pool manager, per vessel, per day when in pools	325
Other related parties [member] \| SSM [Member]
Disclosure of transactions between related parties [line items]
Vessel operating costs, per vessel, per day	685	685	685
Reimbursement of expenses	0	0	0
Other related parties [member] \| Scorpio Services Holding Limited (SSH) [Member]
Disclosure of transactions between related parties [line items]
Administrative fees charged by SSH	9,000,000	7,300,000	6,800,000
Reimbursement of expenses	500,000	600,000	200,000
Other related parties [member] \| Scorpio Services Holding Limited (SSH) [Member] \| Restricted Stock [Member]
Disclosure of transactions between related parties [line items]
Restricted stock amortization	$ 1,200,000	$ 1,600,000	$ 900,000
Issuance of restricted stock, net of forfeitures (in shares) \| shares	1,144,000	795,000	508,500

Related Party Transactions - Related Party Balance Sheet (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Scorpio Group Pools [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Amounts receivable	$ 44,880	$ 40,680
Working capital contributions to Scorpio Group Pools	41,401	19,217
Accounts payable and accrued expenses	462	15
Working capital contributions, related parties	25,700	24,100
SSM [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Amounts receivable	6,391	4,233
Accounts payable and accrued expenses	766	653
Scorpio Commercial Management SAM (SCM) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Accounts payable and accrued expenses	191	53
Scorpio Services Holding Limited (SSH) [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Accounts payable and accrued expenses	$ 190	90
Scorpio Handymax Tanker Pool Limited [Member]
Disclosure of transactions between related parties [line items]
Working capital repayment period upon vessel's exit from each pool	6 months
Scorpio Handymax Tanker Pool Limited [Member] \| Other related parties [member]
Disclosure of transactions between related parties [line items]
Amounts receivable	$ 6,037	3,125
Working capital contributions to Scorpio Group Pools	$ 6,751	$ 5,617
Working capital repayment period upon vessel's exit from each pool	6 months

Related Party Transactions - Key Management Renumeration (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party [Abstract]
Short-term employee benefits (salaries)	$ 6,614,000	$ 8,786,000	$ 15,601,000
Share-based compensation	19,113,000	25,575,000	26,911,000
Total	25,727,000	34,361,000	42,512,000
Post employment benefits	$ 0	$ 0	$ 0

Vessel Revenue (Details) $ in Thousands	12 Months Ended
Vessel Revenue (Details) $ in Thousands	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel	Dec. 31, 2015 USD ($) vessel
Analysis of income and expense [abstract]
Vessels that earned revenue in long-term time-charter contracts \| vessel	5	6	6
Pool revenue	$ 458,730	$ 485,003	$ 697,406
Time charter revenue	37,411	36,694	19,714
Voyage revenue (spot market)	16,591	0	38,441
Other revenue	0	1,050	150
Revenue	$ 512,732	$ 522,747	$ 755,711

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_28_a&doctype=Standard
-URIDate 2017-03-09

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_23_a&doctype=Standard
-URIDate 2017-03-09

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_32&doctype=Standard
-URIDate 2017-03-09

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_33_a&doctype=Standard
-URIDate 2017-03-09

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2017-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=8&date=2017-03-01&anchor=para_34&doctype=Standard
-URIDate 2017-03-09

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_82_a&doctype=Standard
-URIDate 2017-03-09

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 103
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_103&doctype=Standard
-URIDate 2017-03-09

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Note Expiry date 2018-01-01
-Name IAS
-Number 18
-IssueDate 2017-01-01
-Paragraph 35
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=18&date=2017-03-02&anchor=para_35_b&doctype=Standard&book=B
-URIDate 2017-03-09

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 102
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_102&doctype=Standard
-URIDate 2017-03-09

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_B12_b_v&doctype=Appendix&seq=2
-URIDate 2017-03-09

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_B10_b&doctype=Appendix&seq=2
-URIDate 2017-03-09

+ Details

Operating Leases - Time and bareboat chartered-in vessels (Details) - Vessels [member] - USD ($)	1 Months Ended
	Nov. 30, 2017	Aug. 31, 2017	Apr. 30, 2017	Feb. 28, 2017	Feb. 28, 2015	Dec. 31, 2017	Dec. 31, 2016
STI Beryl, STI Le Rocher, STI Larvotto [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Sale leaseback transaction, gross proceeds per vessel			$ 29,000,000
Sale leaseback transaction, deposit per vessel			$ 4,350,000			$ 4,350,000
Handymax [Member] \| Kraslava [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate				$ 11,250		11,250
Term of lease				1 year
Lease payments, extension, daily rate				$ 13,250
Handymax [Member] \| Krisjanis Valdemars [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate				$ 11,250		11,250
Term of lease				1 year
Lease payments, extension, daily rate				$ 13,250
Handymax [Member] \| Silent [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						7,500
Handymax [Member] \| Single [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						7,500
Handymax [Member] \| Star I [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						7,500
Handymax [Member] \| Steel [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						6,000
Handymax [Member] \| Sky [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						6,000
Handymax [Member] \| Stone I [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						6,000
Handymax [Member] \| Style [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						6,000
Handymax [Member] \| Silent, Single, And Star I [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate							$ 7,500
Handymax [Member] \| Steel, Sky, Style And Stone I [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate							$ 6,000
MR [Member] \| STI Beryl [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						8,800
MR [Member] \| STI Le Rocher [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						8,800
MR [Member] \| STI Larvotto [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						8,800
MR [Member] \| Vukovar [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						17,034
MR [Member] \| Zefyros [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate	$ 13,250					13,250
Lease payments, extension, daily rate	$ 14,500
Term of lease, extension	6 months
MR [Member] \| Gan-Trust [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate	$ 13,950					13,050
Lease payments, extension, daily rate	$ 15,750
Term of lease, extension	1 year
MR [Member] \| CPO New Zealand And CPO Australia [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, extension, daily rate						16,000
MR [Member] \| CPO New Zealand [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						15,250
MR [Member] \| CPO Australia [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate						15,250
MR [Member] \| Ance [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate		$ 13,500				13,500
Term of lease		1 year
Lease payments, extension, daily rate		$ 15,000
MR [Member] \| Miss Mariarosaria [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, expired in current year, daily rate						16,350
MR [Member] \| Targale [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, expired in current year, daily rate						16,200
MR [Member] \| STI Beryl, STI Le Rocher, STI Larvotto [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Sale and leaseback, term of lease			8 years
Leaseback, daily rate			$ 8,800
Sale leaseback transaction, gross proceeds per vessel			29,000,000
Sale leaseback transaction, deposit per vessel			$ 4,350,000
LR1 [Member] \| Hellespont Progress [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, expired in current year, daily rate						17,250
LR2 [Member] \| Densa Crocodile [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, daily rate					$ 21,050	14,750
Lease payments, expired in current year, daily rate						22,600
Term of lease					1 year
Lease payments, extension, daily rate	$ 15,750				$ 22,600
Term of lease, extension	6 months
LR2 [Member] \| Densa Alligator [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease payments, expired in current year, daily rate						$ 14,360

Operating Leases - Future minimum lease payments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of maturity analysis of operating lease payments [abstract]
Minimum lease payments	$ 117,635	$ 87,951
Less than 1 year [member]
Disclosure of maturity analysis of operating lease payments [abstract]
Minimum lease payments	52,532	57,018
1 - 5 years [member]
Disclosure of maturity analysis of operating lease payments [abstract]
Minimum lease payments	42,839	30,933
Later than five years [member]
Disclosure of maturity analysis of operating lease payments [abstract]
Minimum lease payments	$ 22,264	$ 0

Operating Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Leases 1 [Abstract]
Minimum lease payments	$ 117,635	$ 87,951
Charterhire expense	$ 75,750	$ 78,862	$ 96,865

Operating Leases - Chartered-out vessels summary (Details) - Vessels [member]	12 Months Ended
	Dec. 31, 2017 USD ($)
STI Pimlico [Member] \| Handymax [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Operating leases daily rate receivable	$ 18,000
STI Poplar [Member] \| Handymax [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Operating leases daily rate receivable	18,000
STI Notting Hill [Member] \| MR [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Operating leases daily rate receivable	20,500
STI Westminster [Member] \| MR [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Operating leases daily rate receivable	20,500
STI Rose [Member] \| LR2 [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Operating leases daily rate receivable	28,000
STI Texas City [Member] \| MR [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Operating leases daily rate receivable	$ 16,000
Operating lease, profit sharing percentage	50.00%
STI Notting Hill, STI Westminster And STI Rose [Member] \| MR And LR2 [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Redelivery period surrounding expiry date	30 days
Top of range [member] \| STI Pimlico And STI Poplar [Member] \| Handymax [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Redelivery period surrounding expiry date	30 days
Bottom of range [member] \| STI Pimlico And STI Poplar [Member] \| Handymax [Member]
Disclosure of finance lease and operating lease by lessor [line items]
Redelivery period surrounding expiry date	10 days

Operating Leases - Future minimum lease payments due to Company (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of finance lease and operating lease by lessor [line items]
Minimum lease payments receivable	$ 38,168	$ 75,640
Less than 1 year [member]
Disclosure of finance lease and operating lease by lessor [line items]
Minimum lease payments receivable	35,992	37,472
1 - 5 years [member]
Disclosure of finance lease and operating lease by lessor [line items]
Minimum lease payments receivable	2,176	38,168
Later than five years [member]
Disclosure of finance lease and operating lease by lessor [line items]
Minimum lease payments receivable	$ 0	$ 0

General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Analysis of income and expense [abstract]
Short term employee benefits (salaries)	$ 9,196	$ 12,330	$ 19,978
Share based compensation	22,385	30,207	33,687
Total employee benefits expenses	$ 31,581	$ 42,537	$ 53,665

Financial Expenses - Schedule of Financial Expenses (Details) $ in Thousands	4 Months Ended	12 Months Ended
	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel	Dec. 31, 2015 USD ($)	Sep. 01, 2017 USD ($)	May 31, 2016 vessel	Apr. 30, 2016 vessel	Mar. 31, 2016 vessel
Disclosure of detailed information about property, plant and equipment [line items]
Interest payable on debt		$ 86,703	$ 63,858	$ 61,082
Amortization of deferred financing fees		13,381	14,149	14,688
Write-offs of deferred financing fees		2,467	14,479	2,730
Accretion of Convertible Notes		12,211	11,562	11,096
Accretion of premiums and discounts on assumed debt		1,478	0	0
Total financial expenses		116,240	104,048	89,596
Average Borrowings		2,265,700	1,986,600	1,941,000
Capitalized interest		4,200	6,300	$ 5,600
Number of vessels sold \| vessel						2	1	2
Write-offs of deferred financing fees related to the refinancing of borrowings		800	11,200
STI Emerald and STI Sapphire [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Write-offs of deferred financing fees related to repayment of debt		$ 500
Number of vessels sold \| vessel	2	2
STI Beryl, STI Le Rocher, STI Larvotto [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Write-offs of deferred financing fees related to repayment of debt		$ 100
Sale leaseback transaction, number of vessels \| vessel	3	3
STI Amber, STI Topaz, STI Ruby, STI Garnet and STI Onyx [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Write-offs of deferred financing fees related to repayment of debt		$ 1,100
Number of vessels under finance lease arrangements \| vessel	5	5
STI Lexington, STI Mythos, STI Chelsea, STI Olivia, and STI Powai [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Write-offs of deferred financing fees related to repayment of debt			$ 3,200
Number of vessels sold \| vessel			5
NPTI [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Accretion of premiums and discounts on assumed debt	$ 1,478
Liabilities incurred					$ 907,400

(Loss) / Earnings Per Share - Schedule of Basic and Diluted (Loss) / Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings per share [abstract]
Net (loss) or income attributable to equity holders of the parent - basic	$ (158,240)	$ (24,903)	$ 217,749
Convertible Notes interest expense	0	0	19,630
Convertible Notes deferred financing amortization	0	0	1,756
Net (loss) or income attributable to equity holders of the parent - diluted	$ (158,240)	$ (24,903)	$ 239,135
Basic weighted average number of shares (in shares)	215,333,402	161,118,654	161,436,449
Effect of dilutive potential basic shares:
Restricted stock (in shares)	0	0	7,323,894
Convertible notes (in shares)	0	0	30,978,983
Dilutive shares (in shares)	0	0	38,302,877
Diluted weighted average number of shares	215,333,402	161,118,654	199,739,326
(Loss) / earnings per share, basic (in USD per share)	$ (0.73)	$ (0.15)	$ 1.35
(Loss) / earnings per share, diluted (in USD per share)	$ (0.73)	$ (0.15)	$ 1.20

(Loss) / Earnings Per Share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings per share [line items]
Dilutive shares (in shares)	0	0	38,302,877
Total potential dilutive shares, convertible notes (in shares)			31,791,435
Total potential dilutive shares, restricted stock (in shares)			13,611,270
Convertible Debt Securities [Member]
Earnings per share [line items]
Antidilutive securities (in shares)	34,422,823	34,049,792
Restricted Stock [Member]
Earnings per share [line items]
Antidilutive securities (in shares)	19,254,411	12,613,585

Financial Instruments - Financial and Other Risks - Categories of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2014
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	$ 2,767,193	$ 1,882,681
Additional paid-in capital	2,283,591	1,756,769
Finance Lease [Member] \| Deferred financing fees [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	1,200
Secured bank loans [member] \| Deferred financing fees [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	29,900	31,100
Unsecured Senior Notes due 2020 [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	53,750	53,750
Unsecured Senior Notes due 2020 [Member] \| Deferred financing fees [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	800
Unsecured Senior Notes Due 2019 [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	57,500
Unsecured Senior Notes Due 2019 [Member] \| Deferred financing fees [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	1,500
Convertible Notes [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	328,700	316,500	$ 298,700
Convertible Notes [Member] \| Deferred financing fees [Member]
Disclosure of detailed information about financial instruments [line items]
Debt outstanding	2,800
Accounts payable [member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	13,044	9,282
Accrued expenses [member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	32,838	23,024
Secured bank loans [member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	1,615,248	1,466,940
Finance Lease [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	717,139	0
Unsecured Senior Notes due 2020 [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	53,750	53,750
Unsecured Senior Notes Due 2017 [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	0	51,750
Unsecured Senior Notes Due 2019 [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	57,500	0
Convertible Notes [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, carrying value	348,500	348,500
Cash and cash equivalents [member] \| Loans and receivables, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, carrying value	186,462	99,887
Restricted cash [member] \| Loans and receivables, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, carrying value	11,387	0
Loans and receivables, category [member] \| Loans and receivables, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, carrying value	65,458	42,329
Derivatives [member] \| Financial assets at fair value through profit or loss, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, carrying value	0	116
Reserve of equity component of convertible instruments [member] \| Convertible Notes [Member] \| Deferred financing fees [Member]
Disclosure of detailed information about financial instruments [line items]
Additional paid-in capital	1,900
Level 1 of fair value hierarchy [member] \| Accounts payable [member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	13,044	9,282
Level 1 of fair value hierarchy [member] \| Accrued expenses [member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	32,838	23,024
Level 1 of fair value hierarchy [member] \| Finance Lease [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	717,139	0
Level 1 of fair value hierarchy [member] \| Unsecured Senior Notes due 2020 [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	53,449	48,252
Level 1 of fair value hierarchy [member] \| Unsecured Senior Notes Due 2017 [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	0	52,330
Level 1 of fair value hierarchy [member] \| Unsecured Senior Notes Due 2019 [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	58,466	0
Level 1 of fair value hierarchy [member] \| Cash and cash equivalents [member] \| Loans and receivables, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	186,462	99,887
Level 1 of fair value hierarchy [member] \| Restricted cash [member] \| Loans and receivables, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	11,387	0
Level 1 of fair value hierarchy [member] \| Loans and receivables, category [member] \| Loans and receivables, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	65,458	42,329
Level 2 of fair value hierarchy [member] \| Secured bank loans [member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	1,615,248	1,466,940
Level 2 of fair value hierarchy [member] \| Convertible Notes [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities, at fair value	316,184	286,321
Level 2 of fair value hierarchy [member] \| Derivatives [member] \| Financial assets at fair value through profit or loss, category [member]
Disclosure of detailed information about financial instruments [line items]
Financial assets, at fair value	$ 0	$ 116

Financial Instruments - Financial and Other Risks - Narrative (Details)	12 Months Ended
	Dec. 31, 2017 USD ($) vessel	Dec. 31, 2016 USD ($) vessel	Dec. 31, 2015 USD ($)
Vessels [member]
Disclosure of detailed information about financial instruments [line items]
Number of vessels \| vessel	107	77
Time or bareboat chartered-in product tankers [member] \| Vessels [member]
Disclosure of detailed information about financial instruments [line items]
Number of vessels \| vessel	19
Spot market rate risk [Member]
Disclosure of detailed information about financial instruments [line items]
Amount of changes in spot rate used for sensitivity analysis \| $	$ 1,000
Impact on operating income (loss) due to increase (decrease) in spot rate in sensitivity analysis \| $	$ 36,600,000	$ 31,100,000	$ 31,400,000
Spot market rate risk [Member] \| Time or bareboat chartered-in product tankers [member] \| Vessels [member]
Disclosure of detailed information about financial instruments [line items]
Number of vessels \| vessel	5
Interest rate risk [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of change in interest rates used for sensitivity analysis	1.00%	1.00%	1.00%
Impact on profit (loss) due to changes in interest rate in sensitivity analysis \| $	$ 17,900,000	$ 14,800,000	$ 13,900,000

Financial Instruments - Financial and Other Risks - Schedule of Contractual Maturity for Secured and Unsecred Facilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Future undiscounted cash flows of financial liability	$ 3,431,669	$ 2,206,948
Less than 1 month [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Future undiscounted cash flows of financial liability	24,868	32,997
1-3 months [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Future undiscounted cash flows of financial liability	65,294	41,577
3 months to 1 year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Future undiscounted cash flows of financial liability	219,144	354,738
1 - 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Future undiscounted cash flows of financial liability	2,438,033	1,723,306
5 plus years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Future undiscounted cash flows of financial liability	$ 684,330	$ 54,330

Subsequent Events - Narrative (Details)																		1 Months Ended												2 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
Subsequent Events - Narrative (Details)	Mar. 12, 2018	Feb. 13, 2018 $ / shares	Jan. 01, 2018 USD ($)	Dec. 13, 2017 $ / shares	Sep. 25, 2017 $ / shares	May 11, 2017 $ / shares	Feb. 23, 2017 $ / shares	Nov. 25, 2016 $ / shares	Sep. 15, 2016 $ / shares	May 11, 2016 $ / shares	Mar. 10, 2016 $ / shares	Nov. 24, 2015 $ / shares	Aug. 14, 2015 $ / shares	May 21, 2015 $ / shares	Mar. 13, 2015 $ / shares	Nov. 25, 2014 $ / shares	Aug. 22, 2014 $ / shares	Mar. 23, 2018 USD ($) shares	Feb. 28, 2018 USD ($) $ / shares shares	Jan. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) shares $ / shares	Jul. 31, 2016 shares	May 31, 2016	Mar. 31, 2016	Jul. 31, 2015 shares	Nov. 30, 2014 USD ($) shares	Jun. 30, 2014 USD ($)	Feb. 28, 2014 USD ($) shares	Oct. 31, 2013 USD ($) shares $ / shares	Mar. 31, 2018	Jun. 30, 2013 USD ($) shares	Dec. 31, 2017 $ / shares	Jun. 30, 2017	Dec. 31, 2017 USD ($) shares $ / shares	Dec. 31, 2016 USD ($) shares $ / shares	Oct. 31, 2017 $ / shares shares	Jun. 30, 2016 $ / shares shares	May 31, 2015 $ / shares shares	Sep. 30, 2014 $ / shares shares	Apr. 30, 2013 shares
Disclosure of non-adjusting events after reporting period [line items]
Common stock, par value (in dollars per share) \| $ / shares																					$ 0.01											$ 0.01		$ 0.01
Convertible Notes [Member]
Disclosure of non-adjusting events after reporting period [line items]
Drawdowns																											$ 349,000,000
Dividends per share (in USD per share) \| $ / shares				$ 0.010	$ 0.010	$ 0.010	$ 0.010	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.125	$ 0.120	$ 0.120	$ 0.100
Convertible conversion rate				0.0987742	0.0984450	0.0981588	0.0979316	0.0977039	0.0949345	0.0925323	0.0905311	0.0886790	0.0874349	0.0863738	0.0852216	0.0840184	0.0828556						0.8475	0.83105	1.08810		0.0820075							0.0987742
Secured Debt [Member]
Disclosure of non-adjusting events after reporting period [line items]
EBITDA to interest expense ratio minimum																																1.50	2.50	2.50
Vessels [member] \| STI Esles II [Member] \| 2017 Credit Facility [Member]
Disclosure of non-adjusting events after reporting period [line items]
Drawdowns																					$ 21,500,000													$ 21,500,000
Vessel Delivery And Related Debt Drawdown [Member] \| Vessels [member] \| STI Jardins [Member] \| 2017 Credit Facility [Member]
Disclosure of non-adjusting events after reporting period [line items]
Drawdowns																				$ 21,500,000
Declaration Of Dividend [Member]
Disclosure of non-adjusting events after reporting period [line items]
Dividends per share (in USD per share) \| $ / shares		$ 0.01
Convertible Senior Notes Ratio [Member] \| Convertible Notes [Member]
Disclosure of non-adjusting events after reporting period [line items]
Convertible conversion rate	0.0992056
Convertible conversion rate increase	0.0004313
Amendment Of Minimum Interest Coverage [Member] \| Secured Debt [Member]
Disclosure of non-adjusting events after reporting period [line items]
EBITDA to interest expense ratio minimum																														1.50
Other related parties [member] \| SSM [Member]
Disclosure of non-adjusting events after reporting period [line items]
Fixed annual technical management fee																																		$ 250,000
Other related parties [member] \| Significant Agreement Amendment [Member] \| SSM [Member]
Disclosure of non-adjusting events after reporting period [line items]
Fixed annual technical management fee			$ 175,000
MR [Member] \| Time Chartered-in Vessels [Member] \| Vessels [member]
Disclosure of non-adjusting events after reporting period [line items]
Term of lease																				1 year
Lease payments, daily rate																				$ 14,000
Lease payments, extension, daily rate																				$ 14,400
LR2 [Member] \| Time Chartered-in Vessels [Member] \| Vessels [member]
Disclosure of non-adjusting events after reporting period [line items]
Term of lease																			6 months
Lease payments, daily rate																			$ 14,300
Lease payments, extension, daily rate																			$ 15,310
Term of lease, extension																			6 months
2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Shares reserved for issuance (in shares) \| shares																																								5,000,000
Common stock [member]
Disclosure of non-adjusting events after reporting period [line items]
Common stock, par value (in dollars per share) \| $ / shares																					$ 0.01											$ 0.01		$ 0.01	$ 0.01
Common stock [member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Shares reserved for issuance (in shares) \| shares																													6,376,044						1,348,992	9,501,807	2,301,115	1,755,443	1,088,131
Common stock, par value (in dollars per share) \| $ / shares																													$ 0.01						$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock [member] \| 2013 Equity Incentive Plan [Member] \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Shares reserved for issuance (in shares) \| shares																			5,122,448
Common stock, par value (in dollars per share) \| $ / shares																			$ 0.01
Restricted Stock [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares, granted (in shares) \| shares																																		10,922,799	2,301,115
Weighted average grant date fair value, granted (in USD per share)																																		$ 3.09	$ 4.74
Employees [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares, granted (in shares) \| shares																					9,973,799	1,864,615			1,466,944	938,131		2,011,000	3,749,998		4,610,000
Employees [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares, granted (in shares) \| shares																		5,002,448
Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares, granted (in shares) \| shares																					600,000	150,000			100,000	50,000		145,045	250,000		390,000
Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares, granted (in shares) \| shares																		120,000
Employees and Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Weighted average grant date fair value, granted (in USD per share)																										$ 8.57		$ 9.30	$ 9.85		$ 8.69
Employees and Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Weighted average grant date fair value, granted (in USD per share)																		$ 2.22
First vesting period \| Employees [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																						33.00%			33.00%	33.00%		33.00%	33.00%		33.00%
First vesting period \| Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																					33.00%							33.00%	50.00%		33.00%
First vesting period \| Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																		33.00%
Second vesting period \| Employees [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																						33.00%			33.00%	33.00%		33.00%	33.00%		33.00%
Second vesting period \| Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																					33.00%							33.00%	50.00%		33.00%
Second vesting period \| Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																		33.00%
Third vesting period \| Employees [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																						33.00%			33.00%	33.00%		33.00%	33.00%		33.00%
Third vesting period \| Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																					33.00%							33.00%			33.00%
Third vesting period \| Directors [Member] \| Restricted Stock [Member] \| 2013 Equity Incentive Plan [Member] \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vested shares percentage																		33.00%

Subsequent Events - Vesting schedule of restricted stock (Details) - Restricted Stock [Member] - 2013 Equity Incentive Plan [Member] - Employees [Member] - shares	1 Months Ended
	Mar. 23, 2018	Dec. 31, 2017
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		9,973,799
Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	5,002,448
First vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		360,439
First vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	1,235,186
Second vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		670,262
Second vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	217,502
Third vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		1,258,576
Third vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	214,794
Fourth vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		1,395,762
Fourth vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	1,235,186
Fifth vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		670,262
Fifth vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	217,502
Sixth vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		1,258,576
Sixth vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	214,794
Seventh vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		1,395,762
Seventh vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	1,235,187
Eighth vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		670,259
Eighth vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	217,502
Ninth vesting period
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)		1,258,578
Ninth vesting period \| Ordinary share transactions [member]
Disclosure of non-adjusting events after reporting period [line items]
Vesting shares (in shares)	214,795

Vessels - Collateral agreements (Details) $ in Millions	Dec. 31, 2017 USD ($)
Property, plant and equipment [abstract]
Vessels pledged as collateral	$ 4,090.1

Current and Long-Term Debt - Schedule of minimum threshold for the aggregate fair market value of vessels as a percentage (Details)		12 Months Ended
	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Borrowings, Financial Covenants, Period One [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels					165.00%
Borrowings, Financial Covenants, Period One [Member] \| Vessels [member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				165.00%
Borrowings, Financial Covenants, Period One [Member] \| Vessels [member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				155.00%
Borrowings, Financial Covenants, Period One [Member] \| Vessels [member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				160.00%
Borrowings, Financial Covenants, Period Two [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				160.00%
Borrowings, Financial Covenants, Period Two [Member] \| Vessels [member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				160.00%
Borrowings, Financial Covenants, Period Two [Member] \| Vessels [member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				150.00%
Borrowings, Financial Covenants, Period Two [Member] \| Vessels [member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				155.00%
Borrowings, Financial Covenants, Period Three [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels			155.00%
Borrowings, Financial Covenants, Period Three [Member] \| Vessels [member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				155.00%
Borrowings, Financial Covenants, Period Three [Member] \| Vessels [member] \| ING Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				145.00%
Borrowings, Financial Covenants, Period Three [Member] \| Vessels [member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				150.00%
Borrowings, Financial Covenants, Period Four [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels		150.00%
Borrowings, Financial Covenants, Period Four [Member] \| Vessels [member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				150.00%
Borrowings, Financial Covenants, Period Four [Member] \| Vessels [member] \| 2017 Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				145.00%
Borrowings, Financial Covenants, Period Five [Member] \| K-Sure Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels	145.00%
Borrowings, Financial Covenants, Period Five [Member] \| Vessels [member] \| KEXIM Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Minimum ratio for fair value of vessels				145.00%

Current and Long-Term Debt - Secured debt (Details)	6 Months Ended		12 Months Ended
Current and Long-Term Debt - Secured debt (Details)	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2017
Secured Debt [Member]
Disclosure of detailed information about borrowings [line items]
EBITDA to interest expense ratio minimum	1.50	2.50	2.50

March 2016

STI Jermyn