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Trafigura divests shareholdings in Scorpio Tankers and Frontline

Commodity trader Trafigura has sold out of its stakes in tanker companies Scorpio Tankers and Frontline, shows an interim report in which the commodity trader increased its profit to more than USD 1.5 billion despite a decline on the bottom line.

Photo: Trafigura

Commodity trader Trafigura has sold out of its equity in tanker companies Scorpio Tankers and Frontline, reveals the company's annual report for fiscal year 2020, which finished in end-September.

Despite a large decrease on the top line, the commodity trader books a net profit of USD 1.6 billion, which is a significant improvement compared to the USD 900 million profit booked the year before.

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