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.
BY OLE ANDERSEN
Even though the management team at Scorpio Group – which is behind two of the most prominent carriers in recent years, Scorpio Bulkers and Scorpio Tankers – on Thursday announced that it will stop paying fees to itself in relation to the sale and purchase of vessels, the decision only marks a small step in the right direction, notes Deutsche Bank's New York-based shipping analyst Amit Mehrotra.
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