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Scorpio Tankers' acquisition of Navig8 proved costly in 2017

The deficit at Scorpio Tankers grew drastically in 2017 and this was partly due to the acquisition of competitor Navig8 Product Tankers which brought 12 new vessels into the fleet.

Photo: Scorpio Tankers/PR

The acquisition of Navig8 in 2017 spurred the deficit at Scorpio Tankers to grow.

Revenue for the fleet of product tanker vessels came to USD 512 million for all of 2017, which marks a minor setback from USD 522 million in 2016. Meanwhile, the carrier's loss grew bigger.

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