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Scorpio Tankers posts another major loss and predicts a grim tanker market for the rest of the year

Scorpio Tanker has a grim outlook on the tanker market for the rest of the year, as the Covid-19 pandemic continues to cause turbulence in the global economy and the commodity market. The tanker operator posts a loss of USD 115 million in the first half of the year.

Photo: Tomas Kristiansen

Millions of dollars continue to pour out of the Robert Bugbee-led product tanker carrier Scorpio Tankers, posting another crushing deficit in the second quarter of the year, yet the company will nevertheless pay out dividends to shareholders.

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Tanker companies pay out massive dividends

Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.

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