Scorpio Tankers Inc. (NYSE:STNG) Q1 2024 Earnings Call Transcript

Lars Dencker Nielsen: I’ll start with that. I mean, I think the Handymax vessel [indiscernible] market is like our secret weapon. It’s a small market, very ageing market, it has the potential to ramp up extremely quickly. If you have a certain size and experience, you also have the ability to triangulate extremely well in terms of trading on the continent or the Mediterranean, which is the primary market. It also has two markets within that. One is clean and one is dirty. So you get kind of like a four markets going on in a — in an area where you can optimize around that. It is certainly very intensive business. So you need a lot of kind of focus around it. You need to have a number of ships to be able to optimize it. It’s not a market that I would suggest that you go in with two or three ships.

But you need to have kind of critical mass. And that also is a market which I didn’t talk about it earlier when was asked about the spot market. But that has also picked up a lot over the last couple of weeks or last week actually, that’s also trading probably on those four markets that I mentioned somewhere around $30,000 a day today. 25 to 30.

Chris Robertson: Okay, great. Yes, thanks for that color. That’s it for me. Thank you very much for the time.

Emanuele Lauro: Thank you.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Emanuele Lauro, Chief Executive Officer for any closing remarks.

Emanuele Lauro: Thank you, operator. No closing remarks from our side. Just thanking you all for your time and attention today and looking forward to speaking very soon. Thanks a lot.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.