New York-listed Scorpio recorded a deficit of $119.6m on previously announced newbuilding sales but it revealed funding will soon be in place for the final four unfinanced vessels in its slimmer orderbook.
Its overall loss for the quarter ran to $138.65m, which after the writedowns are stripped out left it with red ink of $16.6m.
Scorpio’s one-offs related to the sale of eight capesizes, an ultramax and two LR2s, which are part of a 20 vessel reduction undertaken to strengthen the balance sheet in a depressed market.
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