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.
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.
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.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.