Tanker

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

The overheated spring on the product tanker market with record results and high rates has been replaced by tougher times with lower oil demand, increased competition for customers and pressure on freight rates.

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