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The overheated spring on the product tanker market with record results and high rates has been replaced by tougher times with lower oil demand, increased competition for customers and pressure on freight rates.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

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Container vessels spend more and more days waiting off major ports

There are no signs that the congestion issues affecting major container ports near Los Angeles and Long Beach are on the verge of resolution. On a global level, the time spent in port for vessels has increased by 11 percent in the last six months, according to analyst firm.

CMA CGM hit by new cyberattack

CMA CGM has been hit by another cyberattack, resulting in a "data leak of limited customer information", informs the French carrier. A year ago, hackers brought down CMA CGM's website.

Stena Line to deploy electric ferries

By 2030 at the latest, Stena Line plans to deploy two electric ferries on the route between Sweden and Denmark. The ferries will be battery-driven, approximately 200 meters long and be able to fit 1,000-1,500 passengers.

Further reading

Related articles

Trial banner

Latest news

See all jobs