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Scorpio Tankers' bottom line dropped in Q1

New York-listed Scorpio Tankers booked a first quarter result this year, which shrank since last year, while revenue landed in line with expectations. Second quarter looks much better, says one analyst.

Photo: Tomas Kristiansen

Tanker carrier Scorpio Tankers, under control of Robert Bugbee, managed to deliver revenue in the first quarter of USD 120.3 million, which is slightly above analyst expectations.

Meanwhile net earnings dropped to USD 11.5 million in the first quarter, down from USD 30.5 million in the same period last year, according to the interim report.

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