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Scorpio Tankers lost more than USD 76 million in the fourth quarter

Product tanker carrier Scorpio Tankers lost more than USD 76 million in the fourth quarter of 2020, during which repercussions of spring's massive oil stockpiling continued to rub off on rates. Covid-19 will continue to cause volatility into 2021.

Photo: PR/Scorpio Tankers

2020 was not an easy year for the world's oil transporters, which is also evident from the figures presented by product tanker carrier Scorpio Tankers, which closes the year with a significant dive on the bottom line.

As such, Scorpio books a net loss of USD 76.3 million for the last quarter of 2020, while the same quarter of 2019 finished with black figures and a profit of USD 12 million.

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