Scorpio Tankers Inc. is a Monaco-based company engaged in seaborne transportation of refined petroleum products in the international shipping markets. Learn the latest information and analysis on the company, STNG stock price today, stock news, how much one share costs and other information to help you make investment decisions.
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Scorpio was founded in Monaco in 2009 but trades on the New York Stock Exchange. It is the largest product tank company listed on the US exchanges with a fleet of 128 product tankers, which are vessels designed to transport clean petroleum products (CPP).
Their earnings dropped in 2021 due to low liquid cargo rates and the company has a big debt. Despite this, the stock prices rose 58% in 2021 and analysts predict an additional upside of 35% because Scorpio’s revenue is growing every year and the cargo rates should get back to normal soon.
The Scorpio Tankers stock price has grown 140% in the first five months of 2022 and may continue to grow if the market continues to strengthen despite the uncertainty.
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