With dramatically increasing earnings and a net profit of USD 40.7 million at Scorpio Tankers in the first three months of 2015, significantly above analysts' expectations as well as a solid entry into the second and third quarters, the expected boom in the market for transport of refined oil products seems to be even stronger than the product tanker market and the investors themselves had dared to hope for.
Robert Bugbee, President and director of Scorpio Tankers - listed on Nasdaq in New York with the world's largest and most talked about fleet of newly built eco-design vessels - unveiled Monday during a teleconference the time-charter rates which Scorpio Tankers is currently fixing to its vessels, especially the big Long Range Two, LR2 vessels, which Scorpio Tankers has invested heavily in along with medium-large MR vessels.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Schulte Group Chairman reluctant to invest: "There is simply too much uncertainty"
Coffers are filled with money ready to be spent on investments, but German Schulte Group holds on to its capital for the time being. ”There is simply too much uncertainty,” says Group Chair Heinrich Schulte.
Harald Fotland takes over at Odfjell: "Goals are set, but there may be some adjustments"
To replace Kristian Mørch, the Odfjell family has chosen a new chief executive who truly knows the chemical tanker carrier from within and aims to ensure continuity. ShippingWatch has interviewed Harald Fotland regarding his plans and priorities for the Norwegian carrier.
Euronav CEO talks about moving address: Bermuda could be on the table
Prominent Belgian tanker carrier Euronav is open to changing address as part of a forthcoming merger with Frontline. ”Everything is being considered at the moment,” says CEO Hugo De Stoop in an interview with ShippingWatch.
Maersk's decommissioning venture closes after few years
Maersk Decom, established by Maersk Supply Service and Maersk Drilling in an attempt to benefit from a large market for decommissioning assets within the oil industry, shuts down. Chief executive left several months ago.
Kuehne + Nagel beats competitors on EBIT results in Q1
Neither DSV nor DHL were able to keep up with Kuehne + Nagel in operating earnings during the year’s first three months. In other important areas, however, both companies outdid their Swiss competitor.
Marine Superintendent 
Operations Manager 
Junior Shipbroker 
Port Director for the Port of Kolding 
Team Manager 
Marine Sales Executive - Performance Coatings 
Senior Finance Business Partner