Monaco-headquartered product carrier major Scorpio Tankers has picked up $89m-worth of stock in VLCC owner DHT. The Emanuele Lauro-led firm revealed in its third-quarter earnings, which showed a $158.7m in net profit, that nearly 8m common shares of DHT had been acquired at an average of $11.17 each. The shares acquired are equal to 4.9% of what Scorpio calls a passive, minority interest. New York-listed supertanker specialist DHT owns a fleet of 28 ships, of which four newbuildings, delivering in 2026. “This investment reflects the company’s constructive outlook in this sector,” Scorpio Tankers said, adding that dividend income and fair value loss on financial assets included $2m of dividends received and an unrealized loss of $1.1m during the third quarter related to the investment in DHT. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsMonaco