Scorpio Tankers Closes Q2 with $96.8 Million Net Income

by Ship & Bunker News Team
Thursday July 30, 2015

Scorpio Tankers Inc. (Scorpio Tankers) Wednesday announced that it has reached a net income of $96.8 million during the first six months of 2015, crediting a flourishing tanker market.

During 2015’s second quarter, the carrier says it delivered a net income of $57.5 million, alongside announcements of four newbuild order agreements with South Korea’s Hyundai Mipo Dockyard Co. Lte to build two MR tankers and two Handymaxes.

"Spot rates across all of our operating segments improved during the second quarter as fundamentals in the product tanker market remained strong," stated Scorpio Tankers in the report.

ShippingWatch noted that Scorpio Tankers, with 12 newbuilds currently under construction, four of which are scheduled to be delivered in 2015’s third quarter, appears to have made an aggressive entry in the tanker market during an ideal time period.

Last week, Scorpio Tankers announced that it had agreed to the sale of its last remaining 3,392,083 common shares of Dorian LPG Ltd. (Dorian) to Sino Energy Holdings LLC at a rate of $16.16 per share.