© Michela Canalis

Financial performance

Scorpio running at a loss in 2021

by Port News Editorial Staff

SCORPIO Tankers is a shipping company that is part of the Monte Carlo-based Scorpio Group. It’s one of the world’s leading tanker owners with a fleet of 130 vessels. Despite this, it reported a net loss of $46 million in the fourth quarter of 2021.

The Monaco-based company, listed in New York and led by Italian shipowner Emanuele Lauro, has closed its  2021 financial year with a loss of $234 million. By contrast, 2020  had ended on a positive note with a net income of $94 million.

Mr Lauro believes recovery is not far off. In his opinion demand for product tankers should reach pre-pandemic levels as early as this year.

Translation by Giles Foster

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