Exhibit 11.2



Effective June 1, 2012



WHISTLEBLOWER
POLICY

Scorpio Tankers
Inc. (the “Corporation”) is committed to high standards of ethical, moral and legal business conduct. The Corporation
values input from its employees and expects all its directors, officers, employees and subsidiaries to adhere to a high standard
of personal and professional integrity and to avoid any conduct that might reflect unfavourably upon the Corporation personnel
or upon the Corporation itself. In line with the Corporation’s commitment to open communication, the Audit Committee of the
Board of Directors of the Corporation (the “Committee”) has adopted this whistleblower policy (the “Policy”)
to provide an avenue for employees, directors, officers, contractors, subcontractors and agents (“Employees”) to raise
concerns without fear of retaliation for reports made in good faith.



| | I. | Scope
| | -- | -----

This Policy shall encompass:



| | · | The
                                                                                                          receipt, retention,
                                                                                                          and treatment of complaints,
                                                                                                          whether or not in anonymous
                                                                                                          form, received by the
                                                                                                          “Corporation”
                                                                                                          regarding accounting,
                                                                                                          internal accounting
                                                                                                          controls, auditing matters
                                                                                                          (“Accounting
                                                                                                          Matters”);
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





| | · | The
receipt,
retention,
and treatment
of complaints,
whether or not in anonymous form, received
by the Corporation relating to vessel operational matters, especially environmental
management (“Environmental Matters”); and
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | The receipt, retention,
and treatment of complaints, whether or not in anonymous form, received by the Corporation relating to, inter alia, breaches of
the Company Code of Ethics (“Ethics Matters”).
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





Accounting
Matters
shall include but not be limited to, the following:



| | · | Fraud
or deliberate
error or omission in
the preparation,
evaluation,
review
or audit of any
of the Corporation’s
financial
statements;
| | - | ---------------------------------------------------------------------------------------------------------------------------------------



| | · | Fraud
or deliberate
error or omission in
the recording
and maintaining
of the Corporation’s
financial
records;
| | - | --------------------------------------------------------------------------------------------------------------



| | · | Deficiencies
in or noncompliance
with the Corporation’s
internal
accounting
controls;
| | - | -------------------------------------------------------------------------------------



| | · | Misrepresentation
or a false statement
to or by a senior
officer
or accountant
regarding
a matter
contained
in the Corporation’s
financial
records,
financial
statements
or audit reports;
and
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------











| | · | Deviation
from full
and fair
reporting
of the Corporation’s
financial
condition.
| | - | --------------------------------------------------------------------------------



| | II. | Submission of complaints
| | --- | ------------------------

The Corporation
will continue to encourage Employees in the first
instance to address their concerns with their immediate supervisor or point of contact with the organization. As it pertains to
seafarers, this would include the normal ‘chain of command’ including shore representatives such as the Technical or
Marine Superintendent, the Designated Person Ashore, or the dedicated Environmental Manager. Management will also maintain an ‘open
door policy’ to address individuals’ complaints for resolution internally whenever possible.



For
cases where the individual feels he or she cannot submit concerns through ‘usual channels’ the Corporation has
selected EthicsPoint to provide a means for individuals to submit concerns regarding, Accounting Matters, Environmental
Matters andEthics Matters. EthicsPoint provides the Corporation with a
website and a telephone hotline:



| | · | Website:www.scorpiotankers.ethicspoint.com
| | - | ------------------------------------------



| | · | Telephone hotline:
#1-866-879-0839
| | - | ----------------------------------



| | III. | treatment of complaints
| | ---- | -----------------------

The
general counsel of the Corporation (the “General Counsel”) shall be designated by the Committee as the point
of contact for concerns submitted via EthicsPoint. He shall report directly to the Committee relating to any submissions concerning
Accounting Matters and Environmental Matters whereas for all Ethics Matters he shall report directly to the Nominating and Governance
Committee (“Governance Committee”). Any further actions, investigation (whether internal or external) or resources
such as outside counsel
or other advisors
shall be at the sole discretion of the Committee or the Governance Committee as the case may
be. When requested by the party submitting the complaint, confidentiality
will be maintained
to the fullest
extent
possible
consistent
with the need
to conduct
an adequate
review.



The Corporation
will not discharge,
demote,
suspend, threaten,
harass or in
any manner
discriminate
against
any Employee
in the terms
and conditions
of employment
based upon any
lawful
actions of the Employee with
respect
to good faith
reporting
of complaints
regarding
Accounting
Matters
or otherwise
as specified
in Section
806 of the Sarbanes-Oxley
Act of 2012



| | IV. | reporting and record retention
| | --- | ------------------------------

At each meeting of the Committee or
the Governance Committee as the case may be, the General Counsel shall review any complaints received since the previous
meeting; reference to this review shall be included in the Minutes of the meeting. The General Counsel shall also be responsible
for verifying and maintaining the EthicsPoint website and telephone hotline.



Specific Complaints may require the immediate
attention of the Committee or the Governance Committee as the case may be. If the General
Counsel receives a complaint that he deems both credible and material in its allegations and reasonable consequences for the Corporation
he shall immediately contact the Chairman of the Committee or the Chairman of the Governance
Committee as the case may be.











| | V. | amendments
| | -- | ----------

The Committee
shall review
the Policy
annually
and may
amend
it at any
time, consistent
with requirements
of applicable
laws,
rules and
regulations.