Scorpio Tankers Inc (NYSE: STNG) has actually reported its outcomes for the 3 and also 6 months finished June 30, 2019.
For the 3 months finished June 30, 2019, the firm’s bottom line was $29.7 million, or $0.62 fundamental and also watered down loss per share. For the 3 months finished June 30, 2018, the firm had a bottom line of $68.9 million, or $2.23 fundamental and also watered down loss per share. In the previous year’s equal quarter, the firm had a bottom line of $68.9 million, or $2.23 fundamental and also watered down loss per share.
For the 6 months finished June 30, 2019, the firm had a bottom line of $15.2 million, or $0.32 fundamental and also watered down loss per share.For equal 2018 duration, the firm had a bottom line of $100.7 million, or $3.26 fundamental and also watered down loss per share.
Scorpio Tankers state it has actually has actually gotten dedications for 7 various centers to partly fund the acquisition and also setup of exhaust gas cleansing systems, or “scrubbers” on several of its. These dedications are anticipated to boost the firm’s liquidity by about $87 million. Additionally, the firm reports that it remains in conversations with a various team of banks to fund the acquisition of scrubbers which, if consummated, anticipate to boost liquidity by an added $35 million. All of these arrangements are anticipated to be checked in the following couple of months and also the drawdowns will certainly take place as the scrubbers are set up throughout the rest of 2019 and also 2020.
Drydock, Scrubber and also Ballast Water Treatment Update
- Three LR2 vessels finished their scrubber setups throughout the 2nd quarter of 2019 for accumulated prices of $8.6 million (that includes the expense of the scrubber and also relevant setup prices) and also sustained an accumulation of 108 off hire days.
- Three MR vessels finished their course needed unique studies and also scrubber setups throughout the 2nd quarter of 2019 for accumulated prices of $9.5 million (that includes the drydock together with the expense of the scrubber and also relevant setup prices) and also sustained an accumulation of 165 offhire days.
- One ice-class 1A Handymax vessel finished its course needed unique study and also ballast water therapy system setup throughout the 2nd quarter of 2019 for accumulated prices of $2.7 million (that includes the drydock together with the expense of the ballast water therapy system and also relevant setup prices) and also sustained an accumulation of 27 off hire days.
- One LR2 vessel went into drydock for its scrubber setup throughout the 2nd quarter of 2019, and also the setup is anticipated to be finished throughout the 3rd quarter of 2019. The accumulated expense of the setup is anticipated to be $2.5 million (that includes the expense of the scrubber and also relevant setup prices), and also this vessel was off work with for 2 days throughout the 2nd quarter of 2019.
- Three MR vessels went into drydock for their course needed unique studies, ballast water therapy system setups, and also scrubber setups throughout the 2nd quarter of 2019, every one of which are anticipated to be finished throughout the 3rd quarter of 2019. The accumulation prices are anticipated to be about $13.0 million (that includes the drydock together with the expense of the scrubbers, ballast water therapy systems and also all relevant setup prices), and also these vessels were off work with for an accumulation of 37 days throughout the 2nd quarter of 2019.
- Two ice-class 1A Handymax vessels went into drydock for their course needed unique studies and also ballast water therapy system setups throughout the 2nd quarter of 2019, which were finished throughout the 3rd quarter of 2019. The accumulated expense is anticipated to be $4.0 million (that includes the drydock together with the expense of the ballast water therapy system and also relevant setup prices), and also these vessels were off work with for an accumulation of 46 days throughout the 2nd quarter of 2019.
