Operational ChallengesVessel operating expenses are slightly higher due to increased charters moving around the Cape of Good Hope, weather induced repairs, and larger than expected days in dry dock.
Rate DeclineFleet time-charter equivalent rates were down 33% year-year for 4Q24 as crude tanker rates fell due to an oversupply of product in Europe.
Revenue PerformanceScorpio Tankers posted 4Q24 revenues of $204 million, down 39% year-year.