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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.

The net deficit in the second quarter came out to USD 53 million, a considerable plunge from the black figures and profits of USD 144 million in the same quarter last year, the product tanker's financial report shows.

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