EarningsScorpio Tankers posted adjusted earnings per share of $2.75, marking a 35% decrease year-over-year, which missed analysts' estimates.
Industry SupplyThe product tanker orderbook ratio has risen to 12%, a significant increase from the previous year's low of 6%.
Strategic Focus And Market OutlookThe company is shifting focus to charter-out contracts amid high rates but faces limited long-term charter opportunities due to an uncertain demand outlook.