ShippingWatch

Scorpio Tankers beat product tanker rivals despite rate downturn in third quarter

Vessel earnings and operating margins have generally declined for major product tanker carriers recently. Scorpio Tankers is a clear winner among competitors Hafnia, Torm, d'Amico and Ardmore Shipping, according to a ranking provided by Drewry for ShippingWatch.

Robert Bugbee's Scorpio Tankers tops the list of average TCE earnings, among other things. Photo: Chris Prevolos/Marine Money

The overheated spring on the product tanker market with record results and high rates has been replaced by tougher times with lower oil demand, increased competition for customers and pressure on freight rates.

The more "normal" conditions on the product tanker market are clearly reflected in the analysis and ranking provided by maritime supply chain and consultancy firm Drewry for ShippingWatch. Here, Drewry ranks the five the largest product tanker carriers' results in the first three quarters of the year.

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