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Scorpio Tankers

Scorpio Tankers distribute products like gasoline, heating oil, and fuel oil from refineries to end users. They believe that the fundamentals for product tankers are poised to improve. Their Company has been formed at the bottom of the industry cycle with simple aims: buy right, operate right, and create value for shareholders.

Bugbee: Maersk family will drive tanker consolidation

Robert Bugbee, CEO of Maersk Tankers' top competitor Scorpio Tankers, has great expectations for the Maersk family after its acquisition of Maersk Tankers. "I expect to see the Maersk family as a driving and consolidating force," he tells ShippingWatch.

Scorpio Tankers booked major deficit in the first half

Following the announced merger with Navig8, Scorpio Tankers delayed its interim report, published instead today, Monday, and which shows a deficit for the first six months. The numbers further underline the strain on the product tanker sector.

Navig8 shareholders say yes to merger with Scorpio

Navig8's shareholders have voted in favor of a merger with Scorpio Tankers which will create a new giant within product tanker. The merger is now expected to be finalized Sept. 1, according to Scorpio Tankers.

Equity funds preparing to exit tanker shipping

A series of private equity companies are approaching the perfect timing for selling their stakes in product tanker carriers, and this could be the beginning of an upheaval in the industry. Torm's CEO is ready to explore merger opportunities.

Bugbee calls on competitors to join forces

Not long ago, observers had little interest in Robert Bugbee as the Scorpio project looked set to fail. Now he is the man who has done what everyone is talking about in product tanker, and in an interview with ShippingWatch he calls on competitors to follow his lead.

Scorpio Tankers merges with Navig8

The consolidation wave in product tanker is now reality. Robert Bugbee's Scorpio Tankers will merge with Navig8 and issue new shares for USD 200 million. The new behemoth will have a fleet of 105 vessels and will compete directly with carriers such as Torm, Ardmore, and Hafnia Tankers.

Scorpio Tankers' bottom line dropped in Q1

New York-listed Scorpio Tankers booked a first quarter result this year, which shrank since last year, while revenue landed in line with expectations. Second quarter looks much better, says one analyst.

Deutsche Bank sees increasing MR-rates

The first full-year results of the product tanker segment spell good news for the industry going forward, Deutsche Bank shipping analyst Amit Mehrotra tells ShippingWatch. He sees daily MR-rates improving over the next two years.

Tanker carriers have burned through millions this year

Tanker carriers have spent millions of dollars in the first nine months of 2016. Especially Scorpio Tankers drags down the average, according to a review by ShippingWatch. A healthy cash flow is crucial during hard times for product tankers, notes one analyst.

Scorpio Tankers dips into the red in Q3

Scorpio Tankers, headed by Robert Bugbee, reports a bottom line deficit in this year's third quarter. The product tanker carrier's revenue was virtually cut in half.

Deutsche Bank lowers expectations for Scorpio Tankers

Weakened rates in product tanker have now prompted Deutsche Bank's shipping analyst to lower his earnings projections for Scorpio Tankers in the third quarter. Overall, it does not look good for tanker in the third quarter, and dividends for 2017 are set too high, notes JP Morgan.

Bugbee buys stake in Scorpio Bulkers

President Robert Bugbee has purchased shares for USD 216,000 in his carrier Scorpio Bulkers. The purchase comes a few days after the Scorpio Group management did away with the controversial transaction fees at Scorpio Bulkers and Scorpio Tankers.

Deutsche Bank: The damage is done for Scorpio

Positive for investor sentiment that that Scorpio Group management does away with a controversial scheme for paying fees to itself, notes Fearnley. But to Deutsche Bank's shipping analyst, the case is a textbook example of how dire these things can develop.

Scorpio Group does away with maligned fees

Management at the Scorpio group will no longer automatically collect one percent in fees for all vessels purchased or sold through Scorpio Bulkers and Scorpio Tankers. However, management can still collect fees through Bulkers if the share price exceeds USD 5.

Thriller season is set to begin for major carriers

More than 10 carriers, including the heavy weights of the tanker industry, will present second quarter interim reports this week. According to Deutsche Bank's shipping analyst, this will be one the most interesting financial periods to date.

Tanker shares plunge further in 2016

The first five months of this year have brought massive price plunges for the major listed tanker shares, and the shipowners have not successfully convinced investors that the boom is sustainable in the long run.

Robert Bugbee eyes a three-year tanker upswing

Scorpio Tankers has the right size and the platform to benefit from the continuous upswing that can last for the next three years, CEO Robert Bugbee says in an interview with ShippingWatch.

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