ShippingWatch

Scorpio buys own stock for more than USD 50 million

The two companies in Scorpio Group have each bought back their own shares for more than USD 25 million. In both cases, the buyback involves a significant amount of the total number of issued shares.

Photo: Chris Prevolos/Marine Money

Scorpio Tankers and Scorpio Bulkers have each purchased their own stock for approximately USD 25 million, informs the two companies, both part of the Scorpio Group, in separate announcements to the New York stock exchange.

Scorpio Bulkers' buyback amounts to USD 25.2 million, while sister company Scorpio Tankers has bought USD 23.2 million worth of its own shares. In both cases the buybacks make up a significant share of total issued stock in the company. Scorpio Bulkers' purchase is equivalent to 6 percent of total shares issued, while Scorpio Tankers' acquisition is equivalent to 2.7 percent of issued stock.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Container vessels spend more and more days waiting off major ports

There are no signs that the congestion issues affecting major container ports near Los Angeles and Long Beach are on the verge of resolution. On a global level, the time spent in port for vessels has increased by 11 percent in the last six months, according to analyst firm.

CMA CGM hit by new cyberattack

CMA CGM has been hit by another cyberattack, resulting in a "data leak of limited customer information", informs the French carrier. A year ago, hackers brought down CMA CGM's website.

Stena Line to deploy electric ferries

By 2030 at the latest, Stena Line plans to deploy two electric ferries on the route between Sweden and Denmark. The ferries will be battery-driven, approximately 200 meters long and be able to fit 1,000-1,500 passengers.

Further reading

Related articles

Trial banner

Latest news

See all jobs