Scorpio Tankers starts new $250M buyback program

• Scorpio Tankers (NYSE:STNG) +3% premarket after announcing a new $250M share repurchase program.
• STNG also says it recently took delivery of an MR product tanker, the STI Notting Hill, which began a time charter for up to 120 days at ~$18K/day.
• Also, STNG will not exercise options to purchase two LR2s currently under construction from Scorpio Bulkers (SALT).