Scorpio Tankers net loss increases 26 per cent for first half of 2018

Scorpio Tankers has reported a net loss of US$68.9 million for the second quarter of 2018.

This is only a slight increase in losses over the same period last year, where Scorpio Tankers reported a net loss of US$68.3 million.

Across the first half of 2018, Scorpio Tankers had a net loss of US$100.7 million, a 26 per cent higher loss than the $79.8 million loss reported for the first half of 2017.

Scorpio Tankers has attributed the second quarter loss to a number of factors, including vessel operating costs which increased from US$48.9 million in 2017 to $69.5 million in 2018, a US$19.6 million or 42 per cent increase.

In July, Scorpio Tankers reached an agreement to sell and leaseback two Handymax product tankers, STI Battersea and STI Wembley, and two MR product tankers, STI Texas City and STI Meraux.