Scorpio Tankers Inc. Company profile
About Scorpio Tankers Inc.
Scorpio Tankers Inc. (Scorpio Tankers) is a Monaco-based company active in the oil transportation industry. The Company is engaged on the seaborne transportation of refined petroleum products in the international shipping markets. Scorpio Tankers operates through four segments: Handymax, MR (Medium Range), Long Range 1 (LR1)/Panamax and Long Range 2 (LR2)/Aframax. Each of the Company’s segments represents a different type of vessel with which it operates, with the total number of vessels being around 110. Handymax represents the smaller type of ship that the Company operates with, followed by MR, LR1 and LR2 being the biggest one. The Company operates with ships under its own ownership as well as finance leased or chartered-in.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Scorpio Tankers Inc. revenues decreased 41% to $540.8M. Net loss totaled $234.4M vs. income of $94.1M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net loss reflects Gain on repurchase of Convertible Notes increase from $1M (income) to $5.5M (expense), Depreciation increase of 2% to $197.5M (expense).
Equity composition
Common Stock $0.01 Par, 12/10, 250M auth., 25,123,205 shares issd. Insider own 9.47%. IPO: TBA.
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