Scorpio Tankers reveals sales of 18 vessels

New York-listed Scorpio Tankers has revealed a considerable recent fleet clear-out while delivering its Q1 results. The firm, run by Robert Bugbee and Emanuele Lauro, has sold 18 ships so far this year consisting of three LR2s, 12 LR1s, and three MR tankers for around $375m.

Scorpio Tankers on Thursday reported a loss of $84.4m in its first quarter. Seeing rates improve this month, senior management said the company, which still has around 120 tankers in its fleet, is done with selling vessels for the time being.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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