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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 Bulkers cut its deficit in half in Q2

The New York-listed dry bulk carrier booked a net deficit of USD 13.4 million in the second quarter, almost a 50 percent reduction compared to last year. Rates stabilized in the quarter due to increased Chinese iron ore and coal output, notes the carrier.

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 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.

Scorpio Bulkers lost USD 21.3 million in Q3

Dry bulk carrier Scorpio Bulkers finished the third quarter 2016 with a deficit of USD 21.3 million, and the company has signed agreements with shipbuilders to delay several newbuildings.

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.

Scorpio Bulkers needs to raise extra capital yet again

For the fourth time in three years, and only three months since the last time, Scorpio Bulkers is now looking to raise capital by offering new shares, a move which is expected to provide proceeds of USD 65 million. Deutsche Bank encourages investors to think things through.

"Unfortunately, I was wrong"

"I was wrong," says CEO Robert Bugbee in the wake of an accumulated loss close to USD 650 million after Scorpio Bulkers was launched. Now, with new investors, he projects big gains. Once again.

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.

Scorpio Bulkers speaks openly of risk of shutdown

"We never thought we would find ourselves in this situation when we were buying ships in 2013 and 2014 at historically low levels," CEO Emanuele Lauro of Scorpio Bulkers tells the Wall Street Journal.

Scorpio Bulkers in desperate bulk vessel divestment

Scorpio Bulkers is selling five new Capesize bulk vessels for USD 167 million while also performing a stock split at the listed carrier whose comprehensive plans to build the world's largest dry bulk eco-fleet is now left in ruins.

Scorpio Bulkers divests more newbuildings

Robert Bugbee's dry bulk carrier Scorpio Bulkers is once again divesting a series of large bulk vessels in a move that includes freshly delivered ships as well as newbuildings, informs the company.

Struggling Scorpio Bulkers seeks USD 200 million on NYSE

Robert Bugbee's dry bulk carrier Scorpio Bulkers is not only divesting newbuildings, but will now also attempt to raise USD 200 million on the New York Stock Exchange by selling shares. The funds will go to financing the comprehensive newbuilding program.

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