Private Scorpio Holdings has revealed a 5.33% holding in fellow product tanker owner Ardmore Shipping, but it does not appear to be consolidation that is on the mind of the Monaco-based outfit.
Rather, Scorpio is inspired by what it considers “an inflection point” in clean product rates over the past couple of weeks and has also ramped up its holding in a second peer — Hafnia Tankers of Denmark — according to Scorpio Tankers president Robert Bugbee.
