Scorpio’s Bugbee on the Outlook for Tankers

Increased attacks on vessels in the Red Sea are among a number of dislocations and challenges facing the global marine-shipping industry in 2024. In this Talking Transports podcast, Scorpio Tankers President and Director Robert Bugbee joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to discuss the state of the product-tanker industry. Ton-miles were already rising amid supply-chain changes and the impact of the war in Ukraine and low water levels in the Panama Canal. A low order book bodes well for product-tanker rates into 2025, even after the near-term benefits from ships diverting around the Cape of Good Hope, Bugbee says. He also discusses Scorpio’s fleet, its use of cash and where ship technologies are changing to meet long-term emissions targets.

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