Although the latest full-year results of the product tanker segments turned out to be in the red, the 2016 reports of the industry in general spell good news going forward. This is at least the assessment by Deutsche Bank shipping analyst Amit Mehrotra who has covered the tanker industry for years with a special focus on carriers like Ardmore and Scorpio Tankers.
Monday this week Scorpio Tankers took a hit from the deteriorating tanker market in the second half of 2016 – a year which otherwise started off promising for the sector. The carrier, which is listed in New York, suffered a full-year net loss USD 24.9 million, a major setback compared to a profit of USD 217.7 million in 2015.
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