World News
Scorpio Tankers Predicts Q3 Loss, Announces Receipt of New Tankers
Scorpio Tankers Inc. (STI) has announced it is likely to report a loss per share of between $0.01 and $0.04 for the third quarter (Q3) of 2014.
Details of the financial results for the period to the end of September 2014 have not yet been released but the predicted loss does not take into account any contribution from STI's 16 percent holding in Dorian LPG.
The loss contrasts with strong profitability reported to the market in Q1 but follows the smaller loss declared in Q2.
However, its fleet continued to grow in Q3 as it took delivery of newbuild vessels throughout August and September.
STI added ownership of four MR tankers, three LR2 long range product tankers and four Handymax Ice Class 1A tankers as well as chartering in an additional LR2 tanker.
The Q3 additions brought its tanker fleet to 44 owned tankers, with 25 chartered in and 31 on order.
Since then, the company today announced receipt of newbuild MR product tanker, the STI Mayfair.
STI has recently invested heavily in its fleet, ordering scores of newbuild vessels, including some very large crude carriers (VLCCs).
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 0.00 | 665.50 | 1.00 |
| Rotterdam | 512.00 | 3.00 | 663.00 | 0.50 |
| Houston | 545.50 | 3.00 | 666.00 | 9.50 |
| Fujairah | 560.50 | 0.00 | 743.50 | 1.50 |
| Global 20 Ports Average | 584.00 | 1.00 | 751.50 | 2.00 |
| Global 4 Ports Average | 547.50 | 0.00 | 684.50 | 2.50 |
| Global Average Bunker Price | 633.50 | 0.50 | 805.50 | 0.00 |
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