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.



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