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Vessels and drydock | 12 Months Ended
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Dec. 31, 2025
Property, plant and equipment [abstract] |
Vessels and drydock | Vessels and drydock Operating vessels and drydock
In thousands of U.S. dollars | Vessels |  | Drydock |  | Total
Cost |  |  |  |  |  |
| As of January 1, 2025 | $ | 4,250,399 |  |  | $ | 172,918 |  |  | $ | 4,423,317 |
| Additions (1) | 6 |  |  | 65,051 |  |  | 65,057 |
| Disposal of vessels (2) | (436,731) |  |  | (20,299) |  |  | (457,030) |
| Write-offs (3) | — |  |  | (37,500) |  |  | (37,500) |
| As of December 31, 2025 | 3,813,674 |  |  | 180,170 |  |  | 3,993,844 |
Accumulated depreciation |  |  |  |  |
| As of January 1, 2025 | (1,173,893) |  |  | (58,604) |  |  | (1,232,497) |
| Charge for the period | (143,097) |  |  | (37,238) |  |  | (180,335) |
| Disposal of vessels (2) | 116,573 |  |  | 6,355 |  |  | 122,928 |
| Write-offs (3) | — |  |  | 37,500 |  |  | 37,500 |
| As of December 31, 2025 | (1,200,417) |  |  | (51,987) |  |  | (1,252,404) |
Net book value |  |  |  |  |
| As of December 31, 2025 | $ | 2,613,257 |  |  | $ | 128,183 |  |  | $ | 2,741,440 |
Cost |  |  |  |  |  |
| As of January 1, 2024 | $ | 4,664,735 |  |  | $ | 133,467 |  |  | $ | 4,798,202 |
| Additions (1) | 148 |  |  | 105,329 |  |  | 105,477 |
| Disposal of vessels (2) | (414,484) |  |  | (21,281) |  |  | (435,765) |
| Write-offs (3) | — |  |  | (44,597) |  |  | (44,597) |
| As of December 31, 2024 | 4,250,399 |  |  | 172,918 |  |  | 4,423,317 |
Accumulated depreciation |  |  |  |  |
| As of January 1, 2024 | (1,140,414) |  |  | (79,853) |  |  | (1,220,267) |
| Charge for the period | (155,882) |  |  | (29,437) |  |  | (185,319) |
| Disposal of vessels (2) | 122,403 |  |  | 6,089 |  |  | 128,492 |
| Write-offs (3) | — |  |  | 44,597 |  |  | 44,597 |
| As of December 31, 2024 | (1,173,893) |  |  | (58,604) |  |  | (1,232,497) |
Net book value |  |  |  |  |
| As of December 31, 2024 | $ | 3,076,506 |  |  | $ | 114,314 |  |  | $ | 3,190,820 |
(1)Additions during the years ended December 31, 2025 and 2024 primarily relate to the drydock and Ballast Water Treatment System ("BWTS") costs and installations incurred on certain of our vessels. (2)Represents the net book value of an aggregate of 22 vessels that were contracted to be sold during the years ended December 31, 2025 and 2024. These sales consisted of five MRs (STI Maestro, STI Battery, STI Venere, STI Milwaukee, and STI Yorkville) and five LR2s (STI Lobelia, STI Lavender, STI Goal, STI Gallantry, and STI Kingsway) during the year ended December 31, 2025, and 11 MRs (STI Tribeca, STI Larvotto, STI Le Rocher, STI Manhattan, STI Beryl, STI Onyx, STI Garnet, STI Ruby, STI Topaz, STI San Antonio and STI Texas City) and one LR2 (STI Lily) during the year ended December 31, 2024. These transactions are described in Note 7. (3)Primarily represents write-offs of fully depreciated equipment and drydock costs on certain of our vessels. Other Activity During the year ended December 31, 2023, we wrote-off $10.5 million related to options to purchase additional exhaust gas cleaning systems, or scrubbers, which expired unexercised. This amount included deposits and previously incurred installation costs. These amounts were previously recorded within Other assets on the consolidated balance sheet. Collateral agreements The below table is a summary of vessels with an aggregate carrying value of $2.7 billion at December 31, 2025 which have been pledged as collateral under the terms of our secured debt and lease financing arrangements as of December 31, 2025:
Credit Facility |  | Vessel Name
2023 $225.0 Million Revolving Credit Facility |  | STI Duchessa, STI Memphis, STI Madison, STI Opera, STI Virtus, STI Aqua, STI Dama, STI Regina, STI Sanctity
2023 $49.1 Million Credit Facility |  | STI Rose, STI Rambla
2023 $117.4 Million Credit Facility |  | STI Battersea, STI Wembley, STI Meraux, STI St. Charles, STI Mayfair, STI Alexis
2023 $1.0 Billion Credit Facility |  | STI Lotus, STI Magic, STI Mystery, STI Marvel, STI Magnetic, STI Millennia, STI Magister, STI Mythic, STI Modest, STI Maverick, STI Miracle, STI Mighty, STI Maximus, STI Spiga, STI Leblon, STI Jermyn, STI Donald C Trauscht, STI Esles II, STI Solace, STI Solidarity, STI Stability, STI Galata, STI Bronx, STI Notting Hill, STI Seneca, STI Sloane, STI Condotti, STI Brooklyn, STI Gladiator, STI Gratitude, STI Steadfast, STI Supreme, STI Acton, STI Camden, STI Jardins, STI San Telmo, STI Soho, STI Osceola, STI Kingsway
2023 $94.0 Million Credit Facility |  | STI Marshall, STI Grace, STI Guide, STI Gauntlet
2025 $500.0 Million Revolving Credit Facility |  | STI Hammersmith, STI Rotherhithe, STI Poplar, STI La Boca, STI Broadway, STI Winnie, STI Connaught, STI Lauren, STI Veneto, STI Fulham, STI Elysees, STI Park, STI Orchard, STI Hackney, STI Lombard, STI Comandante, STI Brixton, STI Pimlico, STI Finchley, STI Westminster, STI Pontiac, STI Black Hawk, STI Oxford, STI Selatar, STI Gramercy, STI Queens
Ocean Yield Lease Financing |  | STI Symphony
The below table is a summary of vessels with an aggregate carrying value of $82.3 million which were unencumbered at December 31, 2025:
|  | Vessel Name
Unencumbered |  | STI Clapham, STI Bosphorus, STI Guard

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