Scorpio Tankers Reports 4Q Loss

Photo: Scorpio Tankers

By Aiswarya Lakshmi

Scorpio Tankers has reported a fourth-quarter loss
of $29.7 million or a loss of 18 cents per share.

The shipping company posted revenue of $106.1 million in the
period, also exceeding Street forecasts.

Scorpio Tankers sharply reduced its quarterly dividend by 92% to
$0.01 from $0.125.

For the year, the company reported a loss of $24.9 million, or 15
cents per share, swinging to a loss in the period. Revenue was
reported as $522.7 million.

The Company currently has nine newbuilding vessel orders (eight
MRs and one LR2) with HMD and SSME, which the Company refers to
as its Newbuilding Program.

Scorpio Tankers Inc. is a provider of marine transportation of
petroleum products worldwide.

It currently owns 78 product tankers (22 LR2, 14 Handymax, and 42
MR tankers) with an average age of 2.2 years and time or bareboat
charters-in 17 product tankers (one LR2, one LR1, eight MR and
seven Handymax tankers).

Feb 13, 2017

Let's block ads! (Why?)

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.