Scorpio Tankers Inc
(NYSE:STNG)

Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 30, 2021, it owned, finance leased, or bareboat chartered 131 product tankers, which included 42 LR2, 12 LR1, 63 MR, and 14 Handym...

Website: http://www.scorpiotankers.com

Founded: 2009

Full Time Employees: 22

Sector: Energy

Industry: Oil & Gas Midstream

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Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-05-09	2023-12-31	2023-11-09	2023-06-30	2023-05-02	2023-02-16	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-05-06	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-10-09	2018-09-30	2018-07-31	2018-03-31	2017-12-31	2017-11-28	2017-11-16	2017-03-31	2016-12-31	2016-11-14	2016-07-28	2016-04-27	2016-03-18	2016-02-29	2015-11-05	2015-07-29	2015-04-27	2015-03-02	2014-12-31	2014-10-28	2014-07-28	2014-06-30	2014-04-28	2014-02-24	2013-12-31	2013-11-20	2013-10-28	2013-07-29	2013-04-29	2013-02-25	2012-12-31	2012-12-04	2012-10-29	2012-07-31	2012-05-03	2012-02-22	2011-12-31	2011-11-30	2011-11-14	2011-03-21	2010-12-31	2010-11-17	2010-08-18	2010-06-24	2009-12-31

revenue
yoy
qoq
vessel revenue	241,361,000	444,209,000	213,984,000	203,969,000	267,986,000	380,660,000	391,336,000	336,313,000	291,179,000	713,730,000	384,431,000	493,717,000	493,757,000	489,996,000	405,073,000	174,047,000	147,908,000	119,271,000	273,607,000	134,165,000	138,236,000	177,250,000	346,239,000	254,167,000	254,167,000	221,622,000	136,067,000	346,635,000	195,830,000		298,241,000	119,281,000	141,795,000	156,446,000	148,394,000	364,338,000	123,119,000	122,801,000	106,069,000	114,336,000	137,214,000	165,128,000		178,398,000	228,142,000	188,464,000	160,706,000	125,738,000	125,737,000	82,891,000	57,445,000	134,179,000	76,734,000	53,367,000	53,367,000	154,213,000	57,756,000	51,533,000	44,924,000	30,104,000	31,363,713	84,017,287	28,139,316	26,983,291	28,894,680	22,641,685	22,641,686	59,468,005	21,460,983	12,021,974	12,021,974	13,358,211	7,262,288	6,155,440
operating expenses
vessel operating costs	-74,343,000	-139,339,000	-70,604,000	-80,812,000	-80,943,000	-79,267,000	-78,125,000	-83,937,000	-79,113,000	-152,532,000	-73,674,000	-86,169,000	-86,169,000	-75,801,000	-76,923,000	-84,832,000	-85,059,000	-85,881,000	-163,900,000	-83,302,000	-86,775,000	-85,752,000	-79,758,000	-81,463,000	-81,463,000	-85,412,000	-70,967,000	-138,152,000	-69,376,000			-69,337,000	-69,474,000	-70,430,000	-74,824,000	-156,403,000	-58,418,000	-48,148,000	-46,933,000	-45,915,000	-46,237,000	-48,035,000		-50,916,000	-45,017,000	-41,147,000	-37,475,000	-31,140,000	-31,140,000	-20,933,000	-13,680,000	-26,750,000	-13,070,000	-12,569,000	-12,569,000	-27,635,000	-11,137,000	-8,527,000	-7,971,000	-8,195,000	-8,194,590	-22,158,410	-6,374,319	-6,966,254	-8,817,837	-8,038,770	-8,038,770	-23,330,876	-8,492,911	-7,101,261	-7,101,261	-6,032,457	-2,920,928	-2,385,846
voyage expenses	-8,440,000	-17,245,000	-9,784,000	-11,824,000	-9,785,000	-7,187,000	-1,575,000	-2,245,000	-1,985,000	-9,013,000	-7,269,000	-33,429,000	-33,469,000	-33,721,000	-23,485,000	-2,023,000	-13,000	-661,000	-2,781,000	-1,385,000	-241,000	-592,000	-2,906,000	-4,220,000	-4,220,000	-2,482,000	-2,055,000	-1,622,000	-295,000			-470,000	-1,033,000	-3,339,000	-3,013,000	-4,720,000	-1,276,000	-2,532,000	-420,000	-330,000	-472,000	-356,000		-293,000	-933,000	-1,112,000	-2,094,000	-2,106,000	-2,106,000	-902,000	-551,000	-4,525,000	-3,974,000	-1,064,000	-1,064,000	-3,782,000	-1,249,000	-1,333,000	-1,200,000	-1,794,000	-3,205,112	-18,538,888	-5,776,046	-7,292,446	-5,470,397	-2,733,398	-2,733,398	-4,147,621	-2,412,195	-32,436	-32,436	-2,136,453	-373,409
depreciation	-46,350,000		-44,671,000																													-44,584,000	-44,092,000	-43,455,000	-43,535,000	-97,883,000	-36,341,000	-30,502,000	-30,686,000	-30,686,000	-29,885,000	-30,204,000		-30,874,000	-29,525,000	-25,550,000	-21,408,000	-17,721,000	-17,721,000	-11,574,000	-7,369,000	-13,322,000	-5,953,000	-6,930,000	-6,930,000	-16,665,000	-6,377,000	-5,521,000	-4,767,000	-4,605,000	-4,604,992	-10,213,008	-3,389,271	-3,178,034	-3,645,703	-5,025,642	-5,025,641	-13,434,476	-5,169,926	-3,505,691	-3,505,691	-3,371,725	-1,649,437	-1,652,055
general and administrative expenses	-29,591,000	-58,126,000	-28,512,000	-23,860,000	-29,991,000	-37,108,000	-30,089,000	-32,128,000	-24,647,000	-49,480,000	-22,271,000	-26,384,000	-26,384,000	-26,490,000	-22,803,000	-12,454,000	-12,808,000	-13,054,000	-26,884,000	-13,560,000	-14,317,000	-15,861,000	-18,747,000	-17,261,000	-17,261,000	-15,759,000	-15,296,000	-31,240,000	-15,712,000			-12,373,000	-13,346,000	-13,626,000	-11,370,000	-36,141,000	-12,539,000	-11,910,000	-12,306,000	-12,491,000	-13,085,000	-17,017,000		-18,245,000	-18,433,000	-15,451,000	-13,702,000	-13,830,000	-13,829,000	-11,676,000	-11,649,000	-22,615,000	-10,966,000	-11,216,000	-11,217,000	-14,571,000	-6,522,000	-5,290,000	-2,759,000	-3,132,000	-2,981,479	-8,554,521	-2,814,977	-2,736,970	-3,005,757	-3,024,652	-3,024,652	-8,612,061	-2,905,614	-2,504,844	-2,484,458	-2,215,743	-1,353,842	-146,051
gain on sales of vessels				30,990,250	69,306,000	43,325,000	11,330,000	1,781,750	7,127,000																												7,000
total operating expenses	-158,724,000	-304,717,000	-153,571,000	-109,140,000	-96,925,000	-126,914,000	-146,369,000	-174,586,000	-149,770,000	-311,716,000	-153,195,000	-184,473,000	-184,513,000	-184,269,000	-175,510,000	-220,875,000	-157,971,000	-159,711,000	-313,612,000	-158,872,000	-180,705,000	-163,748,000	-163,122,000	-162,982,000	-162,982,000	-162,766,000	-139,960,000	-271,626,000	-135,731,000			-140,583,000	-145,109,000	-149,126,000	-152,001,000	-405,680,000	-129,738,000	-112,523,000	-113,866,000	-110,433,000	-108,227,000	-113,472,000		-119,265,000	-118,797,000	-109,164,000	-101,402,000	-112,504,000	-112,503,000	-78,026,000	-58,545,000	-81,262,000	-22,717,000	-47,788,000	-47,790,000	-141,998,000	-57,162,000	-47,643,000	-37,193,000	-31,948,000	-33,208,426	-99,347,574	-36,820,946	-29,971,274	-32,558,537	-92,647,004	-92,647,003	-65,061,293	-26,339,956	-13,419,764	-13,399,378	-13,756,378	-6,297,616	-4,183,952
operating income	82,637,000	139,492,000	60,413,000	94,829,000	171,061,000	253,746,000	244,967,000	161,727,000	141,409,000	402,014,000	231,236,000	309,244,000	309,244,000	305,727,000	229,563,000	-46,828,000				-24,707,000	-42,469,000	13,502,000	183,117,000	91,185,000	91,185,000	58,856,000	-3,893,000	75,009,000	60,099,000		4,006,000	-21,302,000	-3,314,000	7,320,000	-3,607,000	-41,342,000	-6,619,000	10,278,000	-7,797,000	3,903,000	28,987,000	51,656,000		59,133,000	109,345,000	79,300,000	59,304,000	13,234,000	13,234,000	4,865,000	-1,100,000	52,917,000	54,017,000					3,890,000		-1,844,000	-1,844,713	-15,330,287	-8,681,630	-2,987,983	-3,663,857	-70,005,319				-1,397,790	-1,377,404	-398,167	964,672	1,971,488
yoy	-51.69%	-45.03%	-75.34%	-41.36%	20.97%	-36.88%	5.94%	-47.70%	-54.27%	31.49%	0.73%	-760.38%				89.53%				-127.10%	-146.57%	-77.06%	-4803.75%	21.57%	51.72%		-197.18%	-452.12%	-1913.49%		-211.06%	-48.47%	-49.93%	-28.78%	-53.74%	-1159.24%	-122.83%	-80.10%		-93.40%	-73.49%	-34.86%		346.83%	726.24%	1530.01%	-5491.27%	-74.99%	-75.50%									-125.37%		-38.29%	-49.65%	-78.10%				4908.29%				-170.90%
qoq	-40.76%	130.90%	-36.29%	-44.56%	-32.59%	3.58%	51.47%	14.37%	-64.82%	73.85%	-25.23%	0.00%	1.15%	33.18%	-590.23%					-41.82%	-414.54%	-92.63%	100.82%	0.00%	54.93%	-1611.84%	-105.19%	24.81%			-118.81%	542.79%	-145.27%	-302.94%	-91.28%	524.60%	-164.40%	-231.82%	-299.77%	-86.54%	-43.88%			-45.92%	37.89%	33.72%	348.12%	0.00%	172.02%	-542.27%	-102.08%	-2.04%								-0.04%	-87.97%	76.58%	190.55%	-18.45%	-94.77%					1.48%	245.94%	-141.27%	-51.07%
operating margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	NaN%	NaN%	NaN%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	NaN%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%
other (expenses) and income
financial expenses	-19,958,000	-40,926,000	-19,619,000	-18,335,000	-20,883,000	-33,327,000	-36,994,000	-46,281,000	-49,698,000	-87,252,000	-43,532,000	-48,783,000	-48,783,000	-42,302,000	-40,709,000	-38,001,000	-38,321,000	-35,810,000	-69,973,000	-34,067,000	-35,887,000	-35,191,000	-39,127,000	-44,765,000	-44,765,000	-47,287,000	-42,865,000	-96,083,000	-48,756,000			-50,106,000	-48,949,000	-39,418,000	-38,619,000	-77,621,000	-30,927,000	-21,664,000	-21,667,000	-31,150,000	-26,010,000	-25,221,000		-24,149,000	-25,549,000	-21,840,000	-18,058,000	-13,216,000	-13,216,000	-6,683,000	-472,000	-871,000	-399,000	-383,000	-382,000	-2,323,000	-448,000	-476,000	-1,399,000	-1,929,000	-1,929,072	-6,582,928	-4,108,237	-1,048,426	-1,426,242
financial income	5,661,000	9,214,000	4,523,000	2,970,000	2,859,000	5,528,000	4,590,000	4,497,000	6,071,000	8,544,000	4,185,000	4,158,000	3,677,000	2,183,000	836,000	188,000	170,000	3,041,000	412,000	225,000	181,000	208,000	295,000	565,000	565,000	756,000	1,582,000	5,843,000	3,119,000		730,000	820,000	345,000	385,000	384,000	1,154,000	665,000	52,000	50,000	59,000	489,000	615,000		18,000	48,000	53,000	25,000	32,000	31,000	103,000	42,000	69,000	27,000	197,000	197,000	950,000	400,000	369,000	181,000	29,000	29,326	5,674	3,569	566	1,515
share of income from dual fuel tanker joint venture	1,153,000	1,808,000	1,051,000	1,112,000	3,706,000	1,327,000	1,519,000
dividend income and fair value gain on financial assets measured at fair value through profit or loss	14,799,000	20,622,000	11,353,000
other income and (expenses)	160,000	1,512,000	492,000	114,000	1,005,000	47,000	109,000																						14,000
total other expense	1,815,000	-7,770,000	-2,200,000	-26,272,000	-12,356,000	-26,425,000	-30,776,000	-40,837,000	-41,041,000	-76,376,000	-37,999,000	-44,841,000	-44,841,000	-39,562,000	-38,432,000	-37,620,000	-35,929,000	-32,827,000	-75,171,000	-37,687,000	-33,790,000	-33,685,000	-39,176,000	-44,558,000	-44,558,000	-46,814,000	-41,396,000	-90,253,000	-45,623,000			-50,407,000	-65,587,000	-39,114,000	-37,903,000	-75,388,000	-30,329,000	-21,811,000				-23,625,000				-21,712,000	-18,609,000	-12,739,000	-12,740,000	-6,024,000	526,000							78,000		-3,036,000			-3,829,539		-1,436,823	-1,680,254
net income	84,452,000	131,722,000	58,213,000	68,557,000	158,705,000	227,321,000	214,191,000	120,890,000	100,368,000	325,638,000	193,237,000	264,403,000	264,403,000	266,165,000	191,131,000	-84,448,000	-45,992,000	-73,267,000	-115,176,000	-62,394,000	-76,259,000	-20,183,000	143,941,000	46,627,000	46,627,000	12,042,000	-45,289,000	-15,244,000	14,476,000		-100,695,000	-71,709,000	-68,901,000	-31,794,000	-41,510,000	-116,730,000	-36,948,000	-11,533,000			3,846,000	28,031,000		34,212,000		57,588,000	40,695,000	495,000	494,000	-1,159,000	-574,000	52,764,000	53,338,000					3,968,000		-4,880,000	-4,880,952	-21,656,048	-12,511,169	-4,044,200	-5,100,680	-71,685,573	-2,760,255.25	-11,041,021	-6,884,608	-2,737,923	-21,043.75	-1,648,681	399,986	1,164,520
yoy	-46.79%	-42.05%	-72.82%	-43.29%	58.12%	-30.19%	10.84%	-54.28%	-62.04%	22.34%	1.10%	-413.10%	-674.89%	-463.28%	-265.95%	35.35%	-39.69%	263.01%	-180.02%	-233.82%	-263.55%	-267.61%	-417.83%	-405.87%	222.10%		-55.02%	-78.74%	-121.01%		142.58%	-38.57%	86.48%	175.68%			-1060.69%	-141.14%				-51.32%		6811.52%		-5068.77%	-7189.72%	-99.06%	-99.07%									-118.32%		20.67%	-4.31%	-69.79%	353.26%	-63.37%	-25.91%	2518.25%	13016.75%	569.69%	-1821.21%	-335.11%
qoq	-35.89%	126.28%	-15.09%	-56.80%	-30.18%	6.13%	77.18%	20.45%	-69.18%	68.52%	-26.92%	0.00%	-0.66%	39.26%	-326.33%	83.61%	-37.23%	-36.39%	84.59%	-18.18%	277.84%	-114.02%	208.71%	0.00%	287.20%	-126.59%	197.09%	-205.31%			40.42%	4.08%	116.71%	-23.41%	-64.44%	215.93%	220.37%				-86.28%					41.51%	8121.21%	0.20%	-142.62%	101.92%	-101.09%	-1.08%								-0.02%	-77.46%	73.09%	209.36%	-20.71%	-92.88%	2497.06%	-75.00%	60.37%	151.45%	12910.62%	-98.72%	-512.18%	-65.65%
net income margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	Infinity%	Infinity%	NaN%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%
earnings per share
basic	1.81	2.85	1.26	1.6	3.31	4.54	4.29	2.44	2.01	5.93	3.4	4.74	4.75	4.84	3.44		-0.82	-1.34	-2.12	-1.15	-1.39	-0.37	2.63	0.85	0.85				0.3						-0.12	-0.61	-0.16	-0.07	0.008	-0.17	0.02	0.17		0.21		0.35	0.27		0.01	-0.01		0.28																		-0.13	-0.003	-0.09
diluted	1.73	2.74	1.22	1.53	3.16	4.34	4.11	2.35	1.93	5.69	3.27	4.37	4.27	4.31	3.06		-0.82	-1.34	-2.12	-1.15	-1.28	-0.37	2.4	0.82	0.82				0.3						-0.12	-0.61	-0.16	-0.07	0.008	-0.17	0.02	0.17		0.2		0.32			0.02	-0.01		0.28																		-0.13	-0.003	-0.09
basic weighted-average shares outstanding	46,599,567	46,228,938	46,172,628	48,544,137	47,941,734	50,024,615	49,905,272	52,369,269	49,906,783	54,926,939	56,834,813	55,814,716	55,455,277	55,003,149	55,594,623	55,409,131	54,718,709	54,757,241	54,388,504	54,318,792	54,665,898	54,905,361	54,827,479	54,667,211	54,667,211		48,529,024	48,109,924	48,070,530	34,824,311		310,032,639	309,575,449	307,905,015	215,333,402	192,304,650	232,062,058	162,711,256	161,118,654	160,844,168	161,381,900	160,471,857	161,436,449	163,792,076	167,237,928	162,457,319	151,838,124		171,851,061			187,563,892			146,504,055	133,908,453																18,406,338	17,551,784
diluted weighted-average shares outstanding	48,818,293	47,997,073	47,729,905	50,874,322	50,150,721	52,354,175	52,069,380	54,527,747	51,943,617	57,186,103	59,111,952	61,096,967	63,511,276	62,820,207	64,419,318	55,409,131	54,718,709	54,757,241	54,388,504	54,318,792	56,392,311	54,905,361	61,593,958	61,692,830	61,692,830		48,529,024	48,109,924	48,556,887	34,824,311		310,032,639	309,575,449	307,905,015	215,333,402	192,304,650	232,062,058	162,711,256	161,118,654	160,844,168	165,943,795	165,680,353	199,739,326	202,210,591	205,323,322	199,202,256			176,292,802			190,849,841			148,339,378	135,047,239																18,406,338	17,626,449
depreciation - owned or sale and leaseback vessels		-90,007,000								-82,688,000									-98,006,000
other (expense) and income																	-41,000	-58,000
attributable to:
equity holders of the parent		131,722,000								325,638,000									-115,176,000						46,627,000			-15,244,000																											5,771,000	11,244,000					-5,414,012	-21,656,048					-2,760,255.25	-11,041,021		-2,737,923	-2,737,923	-1,648,681	399,986
depreciation - owned or sale leaseback vessels				-35,024,750	-45,512,000	-46,677,000	-47,910,000	-32,426,000	-47,016,000		-40,491,000	-41,427,000	-31,645,250	-41,422,000	-41,051,000	-44,108,000	-36,928,250	-49,707,000		-48,784,000	-36,080,000	-49,377,000	-48,102,000	-46,841,000
depreciation - right of use assets								-5,534,750	-4,136,000		-9,490,000	-9,772,000	-7,263,750	-9,567,000	-9,768,000	-9,720,000	-8,112,250	-10,408,000		-11,841,000	-9,743,000	-12,166,000	-13,609,000	-13,197,000		-3,570,000	-6,250,000	-8,030,000	-2,135,000
dividend income and fair value loss on financial assets measured at fair value through profit or loss				-12,133,000	957,000
other income								947,000	2,586,000	2,332,000	1,348,000
depreciation - right of use assets for vessels										-18,003,000									-22,041,000
loss on sales of vessels and write-down of vessel held for sale
net loss on sales of vessels
reversal of previously recorded impairment												12,708,000
loss on convertible notes exchange																	-1,376,000		-5,504,000	-3,856,000
other income and (expense)												-216,000	547,750	557,000	1,441,000	193,000				11,000
net gain on sale of vessel sales													-16,621,500	2,732,000
loss on sale of vessels															-1,480,000	-67,738,000
loss per share
basic																-1.52										-0.313	-0.93	-0.32			-0.33	-0.23	-0.22	-0.1
diluted																-1.52										-0.313	-0.93	-0.32			-0.33	-0.23	-0.22	-0.1
operating (loss) / income																	-20,111,250	-40,440,000	-40,005,000
gain on repurchase of convertible notes																					253,250	1,013,000
other expenses																			-106,000		-104,250	285,000	-344,000	-358,000	-358,000	-283,000	-113,000	-13,000				-251,000	-15,000	-81,000			-67,000	-83,000				-21,000				-4,000	-10,000	-70,000	-69,000	19,000	-7,000							-92,000		-24,000			-48,868		-12,096	18,161								-342,930
charterhire																												-4,399,000	-4,399,000			-13,819,000	-17,157,000	-18,012,000	-17,960,000	-57,790,000	-18,886,000	-19,431,000	-23,521,000	-21,011,000	-18,685,000	-15,645,000		-18,206,000	-24,014,000	-25,915,000	-28,731,000	-29,834,000	-29,834,000	-32,941,000	-36,220,000	-76,393,000	-40,173,000	-36,197,000	-36,198,000	-79,345,000	-31,877,000	-26,972,000	-20,496,000	-14,222,000	-14,221,777	-29,479,223	-12,587,580	-9,766,672	-7,124,971	-7,213,998
depreciation - owned or sale and leaseback																									-46,841,000
depreciation - right of use assets under ifrs 16																									-13,197,000
depreciation - owned or finance leased vessels																										-46,477,000	-45,392,000	-88,183,000	-43,814,000
merger transaction related costs																																	-7,000	-264,000	-1,299,000	-34,815,000	-2,285,000
loss on exchange of convertible notes																																-870,000	-16,968,000
loss on exchange of convertible senior notes
bargain purchase gain																																				5,417,000
realized loss on derivative financial instruments																																			-29,000	-116,000		-116,000																																			-56,764	-222,796
other (expenses) / income
basic weighted average shares outstanding																															308,914,701
diluted weighted average shares outstanding																															308,914,701
dividends declared per common share																															0.02
gain on sale of vessels																																														11,000	2,008,000
loss on sale of vessels and write-down of vessel held for sale
loss on sales of vessels																																				-23,345,000			-519,500
unrealized gain on derivative financial instruments																																										1,002,000				64,000	-606,000	77,000	77,000	75,000	65,000	112,000	47,000		84,000	483,000	118,000	323,000	44,000		-1,269,224	38,224	38,224										146,696	-146,696
other income / (expenses)																																			298,750	1,195,000
loss on sales of vessels and write down of vessels held for sale
gain on sale of dorian shares																																													1,179,000						10,924,000	10,924,000
realized gain on derivative financial instruments																																														15,000	40,000					17,000	17,000		-22,000	25,000	3,000	-46,000					285,773
unrealized gain / (loss) on derivative financial instruments																																							-229,000	169,000	429,000			-678,000	-35,000
other income (expenses)																																							-41,500	-96,000	-49,000
total other income																																							-21,868,000	-31,018,000	-25,141,000			-24,921,000	-24,094,000										194,000	-971,000	73,000		-1,121,000		-1,581,440.25	-6,325,761		-1,056,217			-1,361,933.25	-5,447,733	-2,005,635
net (loss) / income																																							-29,665,000	-27,115,000
gain / (loss) on sales of vessels																																									137,000
diluted weighted-average shares outstanding, assuming conversion of the company's convertible notes, were 198,076,053 and 198,342,263 for the three and six months ended june 30, 2016, respectively. earnings per share for these periods did not consider the effect of the convertible notes because the if-converted method was anti-dilutive.
gain on sale of vessels and write down of vessels held for sale																																										-2,215,000
write-down of vessel held for sale and loss on sales of vessels
write-off of vessel purchase options																																												-731,000
gain on sale of vlccs																																																				51,419,000	51,419,000
re-measurement of investment in dorian
share of income from associate																																																438,000	437,000	462,000	898,000	573,000	-324,000
other incomes																																												-112,000	1,442,000							-53,000	-47,000	-51,000	-26,500	-106,000			-15,000		-18,126	-72,504		-8,357			-34,282	-137,128	-126,123
write-down of vessel held for sale/gain on sales of vessels																																													-2,054,000
net income /																																													85,251,000									5,771,000	2,811,000	11,244,000	667,000		6,610,000
earnings / (loss) per share
basic																																													0.51									0.03	0.02	0.08
diluted																																													0.44									0.03	0.02	0.08
*diluted earnings per share for the three months ended september 30, 2015 primarily includes the potentially dilutive shares relating to our convertible senior notes due 2019 (the "convertible notes") representing 31,345,427 potential common shares. the dilutive impact of the convertible notes is determined using the if-converted method. under this method, we assume that the convertible notes are converted into common shares at the beginning of each period and the interest and non-cash amortization expense associated with these notes of 5.4 million and 16.0 million for the three and nine months ended september 30, 2015, respectively, are not incurred. conversion is not assumed if the results of this calculation are anti-dilutive. the convertible notes are currently ineligible for conversion.
share of loss from associate
earnings per share
basic	1.81	2.85	1.26	1.6	3.31	4.54	4.29	2.44	2.01	5.93	3.4	4.74	4.75	4.84	3.44		-0.82	-1.34	-2.12	-1.15	-1.39	-0.37	2.63	0.85	0.85				0.3						-0.12	-0.61	-0.16	-0.07	0.008	-0.17	0.02	0.17		0.21		0.35	0.27		0.01	-0.01		0.28																		-0.13	-0.003	-0.09
diluted*																																															0.25
diluted weighted-average shares outstanding*																																															186,916,874
write down of vessels held for sale and loss from sales of vessels																																																-3,978,000
gain on sale of vlgcs																																																						41,375,000
write down of investment in dorian																																																-13,895,000
earnings per share
basic and diluted																																																					0.28					0.03
total other incomes																																																				-153,000	-679,000
write down of vessels held for sale and income from sales of vessels																																																						-21,187,000
operating income /																																																						5,579,000	3,053,750	12,215,000	594,000
realized gain/(loss) on derivative financial instruments																																																						-22,000
unrealized gain/(loss) on derivative financial instruments																																																						82,000
share of profit from associate																																																						369,000
total other income/(expense)																																																						192,000
operating expenses:
income from sale of vessels																																																													-2,600,881	-10,403,524		-30,898
earnings / (loss) per share
basic and diluted																																																											0.08
loss from sale of vessels																																																															-5,878,753
operating income/																																																											7,731,000
earnings from profit or loss sharing agreements																																																											68,000	157,000	157,227	285,773
revenue:
impairment																																																																		-66,610,544
unrealized loss on derivative financial instruments																																																												-1,269,000
loss per share
basic and diluted																																																												-0.11	-0.135	-0.54	-0.3	-0.1	-0.14	-2.21	-0.1	-0.4	-0.22
basic and diluted weighted-average shares outstanding																										49,857,998																																		46,090,794	41,413,339	39,842,806	41,202,619	40,747,229	37,563,628	32,413,382	28,704,876		30,895,545	20,659,544
loss from sale of vessel and write down of vessels held for sale																																																																	-4,493,873
interest expense																																																																		-1,699,581	-1,340,111.75	-5,360,447	-1,879,512
interest income																																																																		1,166	12,460.5	49,842		5,661	5,661	1,480	29,315	78
charter hire																																																																			-7,213,998	-15,536,259	-7,359,310	-275,532
operating (loss)/income																																																																			-1,398,322	-5,593,288	-4,878,973
realized (loss) on derivative financial instruments
other expense and income, net:
interest expense—bank loan																																																																						-1,313,832	-1,313,832	-1,220,498	-567,316
other expense																																																																						-31,962	-114,104.5	-31,496	-81,992
total other expense and income																																																																						-1,340,133
earnings per share:
basic	1.81	2.85	1.26	1.6	3.31	4.54	4.29	2.44	2.01	5.93	3.4	4.74	4.75	4.84	3.44		-0.82	-1.34	-2.12	-1.15	-1.39	-0.37	2.63	0.85	0.85				0.3						-0.12	-0.61	-0.16	-0.07	0.008	-0.17	0.02	0.17		0.21		0.35	0.27		0.01	-0.01		0.28																		-0.13	-0.003	-0.09
diluted	1.73	2.74	1.22	1.53	3.16	4.34	4.11	2.35	1.93	5.69	3.27	4.37	4.27	4.31	3.06		-0.82	-1.34	-2.12	-1.15	-1.28	-0.37	2.4	0.82	0.82				0.3						-0.12	-0.61	-0.16	-0.07	0.008	-0.17	0.02	0.17		0.2		0.32			0.02	-0.01		0.28																		-0.13	-0.003	-0.09
other (expense) and income, net:
total other (expense) and income																																																																							-655,542	-1,250,514
other income and expense:
amortization																																																																									-34,625
total other income and expense																																																																									-564,686
earnings per common share:
basic earnings per share																																																																									0.02
diluted earnings per share																																																																									0.02
other income and
bank loan interest																																																																										-94,624
total income and expense																																																																										-806,968
weighted average outstanding shares basic and diluted																																																																										5,589,147
net earnings per share
basic																																																																										0.21
diluted																																																																										0.21

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-05-09	2024-03-31	2023-12-31	2023-11-09	2023-09-30	2023-06-30	2023-05-02	2023-03-31	2023-02-16	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-05-06	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-10-09	2018-09-30	2018-07-31	2018-06-30	2018-03-31	2017-12-31	2017-11-28	2017-11-16	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-04-27	2016-03-31	2015-12-31	2015-07-29	2015-06-30	2015-04-27	2015-03-31	2015-03-02	2014-12-31	2014-10-28	2014-09-30	2014-07-28	2014-06-30	2014-03-31	2013-12-31	2013-11-20	2013-09-30	2013-07-29	2013-06-30	2013-03-31	2013-02-25	2012-12-31	2012-12-04	2012-10-29	2012-09-30	2012-06-30	2012-05-03	2012-03-31	2012-02-22	2011-12-31	2011-11-30	2011-09-30	2011-08-16	2011-06-30	2011-05-10	2011-03-31	2011-03-21	2010-12-31	2010-11-17	2010-09-30	2010-08-18	2010-06-30	2010-06-24	2010-03-31	2009-12-31

assets
current assets
cash and cash equivalents	603,205,000	471,062,000	419,931,000	332,580,000	201,001,000	224,649,000	369,504,000	369,504,000	355,551,000	364,908,000	364,908,000	313,923,000	612,655,000	612,655,000	376,870,000	376,870,000	467,635,000	359,528,000	242,684,000	230,415,000	192,420,000	282,229,000	269,538,000	187,511,000	218,095,000	250,592,000	119,825,000	119,825,000	202,303,000	244,480,000	467,219,000	518,882,000	593,652,000	164,578,000	267,826,000	164,578,000	164,578,000	163,379,000	186,462,000	197,368,000	197,368,000	197,368,000	280,410,000	129,459,000	99,887,000	138,992,000	183,855,000	169,227,000	169,227,000	200,970,000	226,863,000	226,863,000	135,694,000	135,694,000	116,143,000	116,143,000	357,307,000	140,541,000	357,307,000	357,307,000	194,987,000	78,845,000	447,368,000	447,368,000	520,849,000	520,849,000	411,866,000	87,165,000	87,165,000	37,644,657	37,644,657	37,644,657	36,317,418	34,705,603	34,705,603	36,833,090	36,833,090	25,494,568	25,494,568	94,607,095	94,607,095	88,102,287	88,102,287	68,186,902	68,186,902	42,598,075	42,598,075	12,115,617	12,115,617	3,343,390	3,343,390	444,496
financial assets measured at fair value through profit or loss	48,451,000	95,479,000	117,713,000	74,157,000	88,047,000
accounts receivable	172,288,000	167,328,000	168,662,000	150,183,000	169,893,000	227,725,000	234,143,000	234,143,000	203,500,000	192,547,000	192,547,000	201,568,000	233,592,000	233,592,000	276,700,000	276,700,000	247,010,000	206,456,000	70,274,000	38,069,000	40,752,000	31,730,000	45,086,000	33,017,000	59,814,000	114,925,000	148,537,000	148,537,000	78,174,000	61,657,000	56,469,000	65,503,000	69,718,000	50,302,000	54,862,000	50,302,000	50,302,000	55,773,000	65,458,000	59,423,000	59,423,000	59,423,000	38,944,000	38,276,000	42,329,000	48,498,000	53,812,000	55,713,000	55,713,000	69,017,000	77,491,000	77,491,000	76,098,000	76,098,000	76,554,000	78,201,000	76,104,000	80,133,000	76,104,000	76,104,000	84,448,000	72,542,000	73,961,000	73,961,000	62,847,000	62,847,000	47,649,000	36,438,000	36,438,000	25,960,839	25,960,839	25,960,839	23,993,608	27,079,452	27,079,452	19,758,578	19,758,578	20,114,445	20,114,445	17,026,186	17,026,186	11,207,772	11,207,772	7,354,252	7,354,252	6,664,191	6,664,191	3,355,253	3,355,253	1,606,349	1,606,349	1,438,998
prepaid expenses and other current assets	11,455,000	10,283,000	9,643,000	9,230,000	11,632,000	10,273,000	10,131,000	10,131,000	10,213,000	19,373,000	19,373,000	10,667,000	9,642,000	9,642,000	18,159,000	18,159,000	21,187,000	12,538,000	11,110,000	7,954,000	9,902,000	10,450,000	9,092,000	12,430,000	12,402,000	11,856,000	11,774,000	11,774,000	13,855,000	16,693,000	15,845,000	16,250,000	15,671,000	13,276,000	21,564,000	13,276,000	13,276,000	10,289,000	17,720,000	19,097,000	19,097,000	19,097,000	12,638,000	8,333,000	9,067,000	11,021,000	8,399,000	4,556,000	4,556,000	3,585,000	9,807,000	9,807,000	11,608,000	11,608,000	2,420,000	2,420,000	4,552,000	4,040,000	4,552,000	4,552,000	3,855,000	2,277,000	3,870,000	3,870,000	4,076,000	4,076,000	1,935,000	956,000	956,000	1,400,866		1,400,866
inventories	11,564,000	19,193,000	13,025,000	10,173,000	8,578,000	7,872,000	8,186,000	8,186,000	7,816,000	8,482,000	8,482,000	8,506,000	8,364,000	8,364,000	15,620,000	15,620,000	15,280,000	13,295,000	15,373,000	8,781,000	8,539,000	8,396,000	8,104,000	9,261,000	9,034,000	9,806,000	9,867,000	9,867,000	8,646,000	9,531,000	8,761,000	8,690,000	8,300,000	8,362,000	8,355,000	8,362,000	8,362,000	8,953,000	9,713,000	10,026,000	10,026,000	10,026,000	6,587,000	6,838,000	6,122,000	5,905,000	6,187,000	6,698,000	6,698,000	6,575,000	6,869,000	6,869,000	6,181,000	6,181,000	6,075,000	6,075,000	3,103,000	4,562,000	3,103,000	3,103,000	4,553,000	2,857,000	3,498,000	3,498,000	2,525,000	2,525,000	2,888,000	2,170,000	2,169,000	2,773,571	2,773,571	2,773,571	3,257,555	4,627,909	4,627,909	2,696,296	2,696,296	2,917,339	2,917,339	2,430,375	2,430,375	1,338,622	1,338,622	1,286,507	1,286,507	1,098,332	1,098,332	1,300,903	1,300,903	498,242	498,242	433,428
assets held for sale	120,951,000				56,464,000	146,513,000	31,395,000	31,395,000				24,561,000						64,923,000	342,760,000																																																							31,752,000	31,752,000
total current assets	967,914,000	763,345,000	728,974,000	576,323,000	535,615,000	617,032,000	653,359,000	653,359,000	577,080,000	585,310,000	585,310,000	559,225,000	864,253,000	864,253,000	687,349,000	687,349,000	751,112,000	656,740,000	684,207,000	289,227,000	251,613,000	332,805,000	331,820,000	242,219,000	299,345,000	387,179,000	290,003,000	290,003,000	302,978,000	332,361,000	548,294,000	609,325,000	687,341,000	236,518,000	352,607,000	236,518,000	236,518,000	238,394,000	279,353,000	285,914,000	285,914,000	285,914,000	366,042,000	184,119,000	157,521,000	204,761,000	252,428,000	330,970,000	330,970,000	280,147,000	321,030,000	321,030,000	289,851,000	289,851,000	272,057,000	273,704,000	453,046,000	241,256,000	453,046,000	453,046,000	349,253,000	239,170,000	528,697,000	528,697,000	590,297,000	590,297,000	464,338,000	126,729,000	126,728,000	67,779,933	67,726,466	67,779,933	64,627,782	99,540,794	99,540,794	61,450,369	61,450,369	49,632,213	49,632,213	114,843,580	114,843,580	101,964,390	101,964,390	77,288,341	77,288,341	50,864,015	50,864,015	19,222,450	19,222,450	7,757,006	7,757,006	4,829,119
non-current assets
vessels and drydock	2,989,706,000	3,141,491,000	3,169,170,000	3,190,820,000	3,244,876,000	3,311,114,000	3,484,436,000	3,484,436,000	3,577,935,000	3,478,195,000	3,478,195,000	3,319,688,000	3,054,586,000	3,054,586,000	3,089,254,000	3,089,254,000	3,107,291,000	3,144,735,000	3,217,112,000	3,842,071,000	3,884,053,000	3,925,151,000	3,964,122,000	4,002,888,000	4,044,288,000	4,062,574,000	4,051,604,000	4,051,604,000	4,008,158,000	3,975,177,000	3,955,446,000	3,966,671,000	3,997,789,000	4,084,167,000	4,040,438,000	4,084,167,000	4,084,167,000	4,128,250,000	4,090,094,000	4,091,593,000	4,091,593,000	4,091,593,000	3,033,902,000	3,025,031,000	2,913,254,000	2,943,939,000	2,974,596,000	2,950,315,000	2,950,315,000	3,087,753,000	2,876,519,000	2,876,519,000	2,372,883,000	2,372,883,000	1,971,878,000	1,971,878,000	903,596,000	1,496,572,000	903,596,000	903,596,000	631,385,000	530,270,000	640,855,000	640,855,000	498,639,000	498,639,000	466,866,000	395,412,000	395,412,000	396,459,708	396,459,708	396,459,708	259,402,054	262,580,088	262,580,088	322,457,755	322,457,755	393,212,372	393,212,372	396,897,436	396,897,436	329,527,771	329,527,771	333,425,386	333,425,386	284,319,636	284,319,636	213,128,282	213,128,282	97,942,213	97,942,213	99,594,267
other assets	63,454,000	65,962,000	66,183,000	58,312,000	59,485,000	63,084,000	63,346,000	63,346,000	65,440,000	94,442,000	94,442,000	83,742,000	83,665,000	83,665,000	83,754,000	83,754,000	84,808,000	89,788,000	93,190,000	108,963,000	109,644,000	97,445,000	97,274,000	92,145,000	71,422,000	83,688,000	96,977,000	96,977,000	131,139,000	128,071,000	97,233,000	83,004,000	75,210,000	55,538,000	63,275,000	55,538,000	55,538,000	52,871,000	50,684,000	47,675,000	47,675,000	47,675,000	34,290,000	25,262,000	21,495,000	20,892,000	22,937,000	23,592,000	23,592,000	23,337,000	19,087,000	19,087,000	19,820,000	19,820,000	23,728,000	23,728,000	39,865,000	31,791,000	39,865,000	39,865,000	30,213,000	17,907,000	14,045,000	14,045,000	11,895,000	11,895,000	1,215,000	889,000	889,000	591,585	645,052	591,585	3,747,614	3,341,340	3,341,340	3,988,778	3,988,778	2,411,297	2,411,297	1,554,713	1,554,713	2,774,831	2,774,831	1,554,713	1,554,713
goodwill	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,197,000	8,432,000	8,900,000	8,900,000	8,900,000	8,900,000	8,900,000	8,900,000	11,539,000	11,539,000	11,539,000	11,539,000	11,539,000	11,539,000	11,539,000	11,539,000	11,539,000	11,643,000	11,539,000	11,643,000	11,643,000	11,727,000	11,482,000	11,810,000	11,810,000	11,810,000
total non-current assets	3,061,357,000	3,215,650,000	3,243,550,000	3,257,329,000	3,312,558,000	3,382,395,000	3,555,979,000	3,555,979,000	3,651,572,000	3,724,125,000	3,724,125,000	3,761,207,000	3,828,575,000	3,828,575,000	3,871,814,000	3,871,814,000	3,900,677,000	3,952,903,000	4,038,918,000	4,724,742,000	4,782,252,000	4,821,559,000	4,870,559,000	4,916,405,000	4,956,984,000	4,962,021,000	4,977,139,000	4,977,139,000	4,861,032,000	4,837,764,000	4,143,778,000	4,146,668,000	4,096,823,000	4,163,632,000	4,127,537,000	4,163,632,000	4,163,632,000	4,205,004,000	4,219,023,000	4,199,717,000	4,199,717,000	4,199,717,000	3,173,259,000	3,134,925,000	3,072,666,000	3,088,069,000	3,111,454,000	3,114,413,000	3,114,413,000	3,243,308,000	3,079,054,000	3,079,054,000	2,714,748,000	2,714,748,000	2,532,586,000	2,530,939,000	1,708,367,000	2,167,781,000	1,708,367,000	1,708,367,000	1,520,795,000	1,407,506,000	1,026,136,000	1,026,136,000	772,114,000	772,114,000	594,548,000	446,552,000	446,552,000	429,515,303	429,568,770	429,515,303	361,646,311	343,859,929	343,859,929	386,779,403	386,779,403	414,509,744	414,509,744	417,188,374	417,188,374	332,302,602	332,302,602	334,980,099	334,980,099	290,111,455	290,111,455	220,428,282	220,428,282
total assets	4,029,271,000	3,978,995,000	3,972,524,000	3,833,652,000	3,848,173,000	3,999,427,000	4,209,338,000	4,209,338,000	4,228,652,000	4,309,435,000	4,309,435,000	4,320,432,000	4,692,828,000	4,692,828,000	4,559,163,000	4,559,163,000	4,651,789,000	4,609,643,000	4,723,125,000	5,013,969,000	5,033,865,000	5,154,364,000	5,202,379,000	5,158,624,000	5,256,329,000	5,349,200,000	5,267,142,000	5,267,142,000	5,164,010,000	5,170,125,000	4,692,072,000	4,755,993,000	4,784,164,000	4,400,150,000	4,480,144,000	4,400,150,000	4,400,150,000	4,443,398,000	4,498,376,000	4,485,631,000	4,485,631,000	4,485,631,000	3,539,301,000	3,319,044,000	3,230,187,000	3,292,830,000	3,363,882,000	3,445,383,000	3,445,383,000	3,523,455,000	3,400,084,000	3,400,084,000	3,004,599,000	3,004,599,000	2,804,643,000	2,804,643,000	2,161,413,000	2,409,037,000	2,161,413,000	2,161,413,000	1,870,048,000	1,646,676,000	1,554,833,000	1,554,833,000	1,362,411,000	1,362,411,000	1,058,886,000	573,281,000	573,280,000	497,295,236	497,295,236	497,295,236	426,274,093	443,400,723	443,400,723	448,229,772	448,229,772	464,141,957	464,141,957	532,031,954	532,031,954	434,266,992	434,266,992	412,268,440	412,268,440	340,975,470	340,975,470	239,650,732	239,650,732	105,699,219	105,699,219	104,423,386
current liabilities
current portion of long-term debt	61,991,000	30,890,000	84,666,000		126,422,000	138,773,000	203,312,000	203,312,000	220,965,000	147,526,000	147,526,000		69,362,000	69,362,000	31,504,000		48,935,000	69,272,000	274,636,000		250,165,000		105,861,000		199,407,000	213,928,000	263,889,000	263,889,000	235,482,000	237,882,000	295,543,000	240,364,000	297,934,000	230,743,000	307,719,000	230,743,000	230,743,000	130,403,000	113,036,000	179,226,000	179,226,000	179,226,000	191,275,000	311,548,000	353,012,000	305,260,000	217,287,000	118,840,000	118,840,000	124,503,000							65,001,000	98,512,000
lease liability - sale and leaseback vessels	68,735,000	53,290,000	8,634,000		8,543,000	8,499,000	126,562,000	126,562,000	206,757,000	369,019,000	369,019,000		205,560,000	205,560,000	269,145,000		297,998,000	250,793,000	189,293,000		159,343,000		151,446,000		128,979,000			122,599,000
accounts payable	28,861,000	27,604,000	33,193,000	32,213,000	32,553,000	13,831,000	14,003,000	14,003,000	10,004,000	21,492,000	21,492,000	11,220,000	24,086,000	24,086,000	28,748,000	28,748,000	18,813,000	12,866,000	16,689,000	35,080,000	15,246,000	12,302,000	14,796,000	12,863,000	13,807,000	17,373,000	21,552,000	21,552,000	23,122,000	24,771,000	15,354,000	10,621,000	11,865,000	15,761,000	16,779,000	15,762,000	15,761,000	10,780,000	13,044,000	25,124,000	25,124,000	25,124,000	8,115,000	16,860,000	9,282,000	12,525,000	10,941,000	12,348,000	12,348,000	25,683,000	22,811,000	22,811,000	36,361,000	36,361,000	14,929,000	14,929,000	12,741,000	14,263,000	12,741,000	12,741,000	21,977,000	20,696,000	9,194,000	9,194,000	12,868,000	12,868,000	8,003,000	11,387,000	11,387,000	7,180,015	7,180,015	7,180,015	5,518,287	9,377,421	9,377,421	11,732,427	11,732,427	4,709,896	4,709,896	4,294,350	4,294,350	2,843,724	2,843,724	3,173,505	3,173,505	2,591,404	2,591,404	4,140,349	4,140,349	1,071,522	1,071,522	656,002
accrued expenses and other liabilities	41,809,000		47,186,000		74,441,000	70,397,000	64,595,000	64,595,000	72,678,000	73,163,000	73,163,000		62,325,000	62,325,000	91,508,000
total current liabilities	201,396,000	154,185,000	173,679,000	237,193,000	241,959,000	231,500,000	408,472,000	408,472,000	510,404,000	706,371,000	706,371,000	460,910,000	508,500,000	508,500,000	473,251,000	473,251,000	488,583,000	428,888,000	589,764,000	527,841,000	503,806,000	481,728,000	354,436,000	406,175,000	434,413,000	453,494,000	523,373,000	523,373,000	486,231,000	487,611,000	476,469,000	412,338,000	447,200,000	322,318,000	446,948,000	322,319,000	322,318,000	219,557,000	209,064,000	278,287,000	278,287,000	278,287,000	269,011,000	348,749,000	385,318,000	337,200,000	251,076,000	259,699,000	259,699,000	237,376,000	219,621,000	219,621,000	242,614,000	242,614,000	190,366,000	190,368,000	92,872,000	131,323,000	92,872,000	92,872,000	85,760,000	60,486,000	26,877,000	26,877,000	39,363,000	39,363,000	22,180,000	22,763,000	22,763,000	19,049,601	19,049,601	19,049,601	13,261,909	27,798,349	27,798,349	18,234,170	18,234,170	9,920,495	9,920,495	26,391,998	26,391,998	21,284,359	21,284,359	20,123,170	20,123,170	18,456,189	18,456,189	6,634,443	6,634,443	6,871,837	6,871,837	6,023,740
non-current liabilities
long-term debt	753,677,000	808,189,000	815,436,000		699,537,000	765,871,000	973,285,000	973,285,000	939,188,000	694,026,000	694,026,000		490,385,000	490,385,000	264,106,000		471,063,000	474,056,000	508,507,000		803,789,000		966,309,000		981,631,000	1,009,565,000	968,914,000	968,914,000	999,268,000	980,118,000	1,094,910,000	1,161,803,000	1,192,000,000	1,810,869,000	1,277,846,000	1,810,869,000	1,810,869,000	1,912,627,000	1,937,018,000	1,943,921,000	1,943,921,000	1,943,921,000	1,838,050,000	1,662,085,000	1,529,669,000	1,596,067,000	1,709,084,000	1,771,120,000	1,771,120,000	1,872,114,000
total non-current liabilities	753,677,000	832,498,000	877,952,000	730,578,000	766,458,000	840,175,000	1,044,602,000	1,044,602,000	1,164,542,000	1,158,126,000	1,158,126,000	1,435,124,000	1,630,514,000	1,630,514,000	1,579,104,000	1,579,104,000	2,041,825,000	2,239,993,000	2,382,224,000	2,649,200,000	2,646,001,000	2,715,223,000	2,840,059,000	2,686,681,000	2,680,461,000	2,721,968,000	2,718,176,000	2,718,176,000	2,700,790,000	2,718,460,000	2,390,505,000	2,490,394,000	2,497,952,000	2,452,453,000	2,473,828,000	2,452,453,000	2,452,453,000	2,566,947,000	2,604,011,000	2,583,696,000	2,583,696,000	2,583,696,000	1,838,050,000	1,662,085,000	1,529,669,000	1,596,067,000	1,709,084,000	1,771,120,000	1,771,120,000	1,872,194,000	1,773,958,000	1,773,958,000	1,584,370,000	1,584,370,000	1,451,427,000	1,451,427,000	736,268,000	1,057,744,000	736,268,000	736,268,000	289,324,000	135,467,000	157,852,000	157,852,000	160,826,000	160,826,000	165,520,000	135,727,000	135,727,000	187,918,292	187,918,292	187,918,292	110,469,403	133,410,863	133,410,863	143,142,375	143,142,375	131,762,752	131,762,752	175,118,045	175,118,045	148,858,904	148,858,904	127,362,088	127,362,088	108,619,120	108,619,120	15,277,447	15,277,447	36,334,320	36,334,320	37,071,104
total liabilities	955,073,000	986,683,000	1,051,631,000	967,771,000	1,008,417,000	1,071,675,000	1,453,074,000	1,453,074,000	1,674,946,000	1,864,497,000	1,864,497,000	1,896,034,000	2,139,014,000	2,139,014,000	2,052,355,000	2,052,355,000	2,530,408,000	2,668,881,000	2,971,988,000	3,177,041,000	3,149,807,000	3,196,951,000	3,194,495,000	3,092,856,000	3,114,874,000	3,175,462,000	3,241,549,000	3,241,549,000	3,187,021,000	3,206,071,000	2,866,974,000	2,902,732,000	2,945,152,000	2,774,771,000	2,920,776,000	2,774,772,000	2,774,771,000	2,786,504,000	2,813,075,000	2,861,983,000	2,861,983,000	2,861,983,000	2,107,061,000	2,010,834,000	1,914,987,000	1,933,267,000	1,960,160,000	2,030,819,000	2,030,819,000	2,109,570,000	1,993,579,000	1,993,579,000	1,826,984,000	1,826,984,000	1,641,793,000	1,641,795,000	829,140,000	1,189,067,000	829,140,000	829,140,000	375,084,000	195,953,000	184,729,000	184,729,000	200,189,000	200,189,000	187,700,000	158,490,000	158,490,000	206,967,893	206,967,893	206,967,893	123,731,312	161,209,212	161,209,212	161,376,545	161,376,545	141,683,247	141,683,247	201,510,043	201,510,043	170,143,263	170,143,263	147,485,258	147,485,258	127,075,309	127,075,309	21,911,890	21,911,890	43,206,157	43,206,157	43,094,844
shareholders' equity
issued, authorized and fully paid-in share capital:
share capital	778,000		760,000		760,000	760,000	745,000	745,000	745,000	745,000	745,000		743,000	743,000	727,000		669,000	669,000	659,000		659,000		656,000		655,000	652,000	650,000			645,000		577,000		3,817,000	3,838,000	3,817,000	3,817,000	3,817,000		3,308,000	3,308,000	3,308,000	2,747,000	2,247,000		2,247,000	2,224,000	2,224,000	2,224,000		2,205,000	2,205,000	2,033,000	2,033,000	2,033,000	2,033,000	2,023,000	2,023,000	2,023,000	2,023,000	2,021,000	1,999,000	1,888,000	1,888,000	1,658,000	1,658,000	1,247,000	650,000	650,000	433,591	433,591	433,591	433,591	393,591	393,591	390,691	390,691	320,691	320,691	320,691	320,691	251,691	251,691	248,791	248,791	191,076	191,076	191,076	191,076	55,891	55,891	55,891
additional paid-in capital	3,212,762,000	3,194,929,000	3,176,623,000	3,159,548,000	3,143,101,000	3,126,178,000	3,106,664,000	3,106,664,000	3,097,054,000	3,078,552,000	3,078,552,000	3,066,288,000	3,053,538,000	3,053,538,000	3,049,732,000	3,049,732,000	2,852,286,000	2,852,939,000	2,854,455,000	2,855,798,000	2,856,936,000	2,857,024,000	2,854,716,000	2,850,206,000	2,849,635,000	2,848,623,000	2,844,419,000	2,844,419,000	2,842,446,000	2,841,553,000	2,657,375,000	2,655,822,000	2,648,599,000	2,324,309,000	2,329,987,000	2,324,309,000	2,324,309,000	2,286,922,000	2,283,591,000	2,180,886,000	2,180,886,000	2,180,886,000	1,953,091,000	1,761,312,000	1,756,769,000	1,751,806,000	1,744,240,000	1,737,301,000	1,737,301,000	1,729,314,000																		519,493,000		391,627,736		391,627,736								325,049,417	325,049,417	255,754,263	255,754,263	255,003,984	255,003,984	201,440,755	201,440,755	200,982,948	200,982,948	46,272,339	46,272,339	46,272,339
treasury shares	-1,467,127,000	-1,467,127,000	-1,467,127,000	-1,466,818,000	-1,427,942,000	-1,184,951,000	-1,131,225,000	-1,131,225,000	-1,131,225,000	-1,119,190,000	-1,119,190,000	-1,040,489,000	-779,725,000	-779,725,000	-641,545,000	-641,545,000	-565,065,000	-480,172,000	-480,172,000	-480,172,000	-480,172,000	-480,172,000	-480,172,000	-480,172,000	-480,172,000	-467,057,000	-467,057,000	-467,057,000	-467,057,000	-467,056,000	-467,057,000	-467,057,000	-467,056,000		-443,816,000	-443,816,000		-443,816,000	-443,816,000	-443,816,000	-443,816,000	-443,816,000	-443,816,000	-443,816,000	-443,816,000	-443,816,000	-441,018,000	-441,018,000	-441,018,000	-427,311,000	-357,189,000	-357,189,000	-357,189,000	-357,189,000	-351,283,000	-351,283,000	-214,569,000	-316,519,000	-214,569,000	-214,569,000	-7,938,000	-7,938,000	-7,938,000	-7,938,000	-7,938,000	-7,938,000	-7,938,000	-7,938,000	-7,938,000	-7,938,455	-7,938,455	-7,938,455	-7,498,697	-5,498,495	-5,498,495	-5,498,495	-5,498,495	-4,246,854	-4,246,854	-2,869,998	-2,869,998	-2,647,807	-2,647,807	-2,647,807	-2,647,807	-2,647,807	-2,647,807
retained earnings	1,327,785,000	1,263,739,000	1,210,637,000	1,172,391,000	1,123,837,000	985,765,000	780,080,000	780,080,000	587,132,000	484,831,000	484,831,000	397,854,000	279,258,000	279,258,000																																49,326,000	98,276,000	116,057,000	116,057,000																																					1,623,641	1,623,641	3,272,322	3,272,322	2,872,336	2,872,336	1,707,816
total shareholders' equity	3,074,198,000		2,920,893,000		2,839,756,000	2,927,752,000	2,756,264,000	2,756,264,000	2,553,706,000	2,444,938,000	2,444,938,000		2,553,814,000	2,553,814,000	2,506,808,000		2,121,381,000	1,940,762,000	1,751,137,000		1,884,058,000		2,007,884,000		2,141,455,000	2,173,738,000	2,025,593,000			1,964,054,000		1,853,261,000			1,559,368,000	1,625,378,000		1,656,894,000			1,623,648,000	1,623,648,000	1,432,240,000	1,308,210,000		1,359,563,000	1,403,722,000	1,414,564,000	1,414,564,000		1,406,505,000	1,406,505,000	1,177,615,000	1,177,615,000	1,162,850,000				1,332,273,000	1,332,273,000		1,450,723,000			1,162,222,000	1,162,222,000	871,186,000	414,791,000	414,790,000		290,327,343		302,542,781	282,191,511	282,191,511	286,853,227	286,853,227			330,521,911	330,521,911	264,123,729	264,123,729	264,783,182		213,900,161	213,900,161
total liabilities and shareholders' equity	4,029,271,000		3,972,524,000		3,848,173,000	3,999,427,000	4,209,338,000	4,209,338,000	4,228,652,000	4,309,435,000	4,309,435,000		4,692,828,000	4,692,828,000	4,559,163,000		4,651,789,000	4,609,643,000	4,723,125,000		5,033,865,000		5,202,379,000		5,256,329,000	5,349,200,000	5,267,142,000			5,170,125,000		4,755,993,000			4,480,144,000	4,400,150,000		4,443,398,000			4,485,631,000	4,485,631,000	3,539,301,000	3,319,044,000		3,292,830,000	3,363,882,000	3,445,383,000	3,445,383,000		3,400,084,000	3,400,084,000	3,004,599,000	3,004,599,000	2,804,643,000				2,161,413,000	2,161,413,000		1,646,676,000			1,362,411,000	1,362,411,000	1,058,886,000	573,281,000	573,280,000		497,295,236		426,274,093	443,400,723	443,400,723	448,229,772	448,229,772			532,031,954	532,031,954	434,266,992	434,266,992	412,268,440		340,975,470	340,975,470
accrued expenses and other current liabilities		42,401,000		73,591,000
other long-term liabilities		6,784,000				5,165,000			3,974,000	3,974,000	3,974,000
shareholders’ equity
common stock, 0.01 par value per share...		771,000		760,000								745,000				727,000				659,000		659,000		656,000				650,000	646,000		580,000		5,776,000						3,766,000						2,247,000					2,224,000
total shareholders’ equity		2,992,312,000		2,865,881,000								2,424,398,000				2,506,808,000				1,836,928,000		1,957,413,000		2,065,768,000				2,025,593,000	1,976,989,000		1,825,098,000		1,839,012,000	1,625,379,000			1,625,379,000		1,685,301,000	1,623,648,000					1,315,200,000					1,413,885,000						1,162,848,000	1,332,273,000	1,219,970,000			1,494,964,000		1,370,104,000	1,370,104,000						290,327,343		290,327,343						322,458,710	322,458,710						264,783,182			217,738,842	217,738,842
total liabilities and shareholders’ equity		3,978,995,000		3,833,652,000								4,320,432,000				4,559,163,000				5,013,969,000		5,154,364,000		5,158,624,000				5,267,142,000	5,164,010,000		4,692,072,000		4,784,164,000	4,400,150,000			4,400,150,000		4,498,376,000	4,485,631,000					3,230,187,000					3,523,455,000						2,804,643,000	2,161,413,000	2,409,037,000			1,870,048,000		1,554,833,000	1,554,833,000						497,295,236		497,295,236						464,141,957	464,141,957						412,268,440			239,650,732	239,650,732
current portion of long-term bank debt				122,797,000								86,087,000												172,705,000
sale and leaseback liability				8,592,000								128,823,000				269,145,000				178,062,000		158,082,000		131,736,000
long-term bank debt and bonds				665,887,000								569,327,000				264,106,000				666,409,000		824,401,000		971,172,000
right of use assets for vessels										142,508,000	142,508,000	348,797,000	681,344,000	681,344,000	689,826,000	689,826,000	699,598,000	709,165,000	718,933,000	764,025,000		784,770,000		807,179,000					697,903,000
restricted cash										783,000	783,000	783,000	783,000	783,000					2,006,000	4,008,000	5,293,000	5,293,000	5,293,000	5,293,000	10,291,000	12,293,000	12,293,000	12,293,000	12,293,000	12,293,000	12,294,000	12,294,000	12,285,000	12,284,000	12,285,000	12,284,000	12,284,000	12,156,000	11,387,000	9,259,000	9,259,000	9,259,000	1,708,000	1,213,000
lease liability - ifrs 16										95,171,000	95,171,000		147,167,000	147,167,000	52,346,000		52,429,000	52,511,000	78,067,000		54,389,000		54,442,000		60,511,000	62,255,000	69,711,000	69,711,000		69,105,000		22,119,000
ifrs 16 - lease liability												161,887,000				52,346,000				54,515,000		54,386,000		56,678,000					63,946,000		20,708,000
accrued expenses												72,893,000				91,508,000	70,408,000	43,446,000	31,079,000	24,906,000	24,663,000	23,699,000	27,891,000	32,193,000	31,709,000	33,663,000	45,622,000	45,622,000	41,452,000	39,641,000	29,175,000	24,178,000	22,972,000	25,192,000	22,361,000	25,192,000	25,192,000	28,011,000	32,838,000	28,092,000	28,092,000	28,092,000	69,621,000	20,341,000	23,024,000	19,415,000	22,848,000	22,683,000	22,683,000	32,643,000	53,087,000	53,087,000	47,213,000	47,213,000	55,137,000	55,139,000	8,513,000	12,321,000	8,513,000	8,513,000	7,940,000	7,251,000	3,254,000	3,254,000	12,384,000	12,384,000	3,312,000	3,057,000	3,057,000	2,851,171	2,851,171	2,851,171	3,323,861	3,418,827	3,418,827	3,376,033	3,376,033	1,973,767	1,973,767	2,639,759	2,639,759	1,162,554	1,162,554	1,123,351	1,123,351	2,685,445	2,685,445	814,432	814,432	1,402,630	1,402,630	953,532
retained earnings / accumulated deficit															97,894,000
current portion of long-term bank debt and bonds																31,504,000				235,278,000		233,259,000
retained earnings /																97,894,000																																		109,658,000	34,966,000	34,966,000
accumulated deficit																	-166,509,000	-432,674,000	-623,805,000	-539,357,000	-493,365,000	-420,098,000	-367,316,000	-304,922,000	-228,663,000	-208,480,000	-352,419,000	-352,419,000	-399,046,000	-411,088,000	-365,800,000	-336,081,000	-348,307,000		-330,641,000	-258,932,000		-190,029,000	-158,240,000	-116,730,000	-116,730,000	-116,730,000	-79,782,000	-11,533,000											-27,978,000	-27,980,000	-27,307,000	-28,474,000	-27,307,000	-27,307,000	-26,733,000	-80,071,000	-85,842,000	-85,842,000	-86,508,000	-86,508,000	-90,476,000	-97,085,000	-97,086,000	-92,204,426	-92,204,426	-92,204,426	-79,693,258	-75,642,416	-75,642,416	-70,548,379	-70,548,379
right of use assets																					774,362,000		794,970,000		819,444,000	791,927,000	804,726,000	804,726,000		710,684,000	67,266,000	73,160,000
finance lease liability																										126,275,000	122,599,000		122,229,000	116,212,000	115,689,000	115,056,000	114,429,000	50,622,000	100,089,000	50,622,000	50,622,000	50,363,000	50,146,000	45,845,000	45,845,000	45,845,000						53,040,000	53,040,000	53,372,000
vessels under construction																																							55,376,000	39,380,000	39,380,000	39,380,000	103,359,000	84,067,000	137,917,000	123,238,000	113,921,000	140,506,000	140,506,000	132,218,000	26,788,000	26,788,000	199,666,000	199,666,000	406,524,000	404,877,000	610,655,000	484,704,000	610,655,000	610,655,000	649,718,000	649,526,000	371,236,000	371,236,000	261,580,000	261,580,000	126,467,000	50,251,000	50,251,000	32,464,010	32,464,010	32,464,010	98,496,643	77,938,501	77,938,501	60,332,870	60,332,870	18,886,075	18,886,075	18,736,225	18,736,225
derivative financial instruments																																													116,000	345,000	175,000	253,000	253,000	1,175,000	542,000	542,000	661,000	661,000	205,000	205,000	435,000	321,000	435,000	435,000	482,000	689,000	675,000	675,000	738,000	738,000	892,000	844,000	844,000	692,425	692,425	692,425	602,653	462,408	462,408	236,987	236,987	125,851	125,851											797,685	797,685	814,206
vessel held for sale																																											27,463,000																11,980,000	11,980,000
vessels held for sale																																																94,776,000	94,776,000				60,270,000	60,270,000	70,865,000	70,865,000	11,980,000	11,980,000			61,410,000	82,649,000
debt related to vessels held for sale																																																52,535,000	52,535,000				25,562,000	25,562,000	32,932,000	32,932,000		5,906,000
available for sale investment																																																			156,660,000	156,660,000	122,379,000	122,379,000	130,456,000	130,456,000
accumulated other comprehensive loss																																																					-18,917,000	-18,917,000	-10,878,000	-10,878,000
current portion of long term debt																																																			143,181,000	143,181,000	132,817,000	132,817,000	87,163,000	87,163,000
long term debt																																																			1,773,958,000	1,773,958,000	1,584,370,000	1,584,370,000	1,451,427,000	1,451,427,000	736,268,000	1,057,744,000	736,268,000	736,268,000
issued, authorized and fully paid in share capital:
additional paid in capital																																																			1,711,120,000	1,711,120,000	1,551,688,000	1,551,688,000	1,550,956,000	1,550,956,000	1,572,281,000	1,563,056,000	1,572,281,000	1,572,281,000	1,527,802,000	1,536,945,000	1,462,232,000	1,462,232,000	1,255,260,000	1,255,260,000	968,659,000		519,493,000		391,627,736		390,755,063	363,995,576	363,995,576	363,209,984	363,209,984	325,885,347	325,885,347
accumulated other comprehensive income																																																			15,403,000
accumulated other comprehensive income /																																																				15,403,000
investment in associate																																																									154,251,000	154,714,000	154,251,000	154,251,000	209,479,000	209,803,000
debt related to vessel held for sale																																																									6,182,000
hedging reserve																																																									-155,000	-116,000	-155,000	-155,000	-188,000	-212,000	-236,000	-236,000	-250,000	-250,000	-306,000	-329,000	-329,000	-1,591,103	-1,591,103	-1,591,103	-1,453,918	-1,056,745	-1,056,745	-700,574	-700,574	-637,667	-637,667
current debt																																																											65,001,000	65,001,000
current debt related to vessel held for sale																																																											6,182,000	6,182,000
bank loans																																																													27,744,000	31,850,000	13,754,000	13,754,000	13,373,000	13,373,000	9,973,000	7,475,000	7,475,000	8,325,990	8,325,990	8,325,990	3,817,108	14,539,693	14,539,693	2,888,723	2,888,723	3,110,981	3,110,981	19,457,889	19,457,889
bank loans related to vessels held for sale																																																													27,617,000
prepaid expenses																																																																							1,347,399		1,059,201	1,375,830	1,375,830	2,162,405	2,162,405	1,105,861	1,105,861	779,924	779,924	1,315,709	1,315,709	460,680	460,680	503,417	503,417	515,570	515,570	2,309,025	2,309,025	583,944
issued, authorized and fully paid in share capital
merger reserve*
merger reserve																																																																																		13,292,496	13,292,496	13,292,496	13,292,496	13,292,496	13,292,496	13,292,496	13,292,496	13,292,496	13,292,496	13,292,496
retained earnings/																																																																														1,137,193	1,137,193	8,021,801	8,021,801
bank loan																																																																																		17,278,081	17,278,081	15,826,314	15,826,314	13,179,340	13,179,340			3,600,000	3,600,000	3,600,000
cumulative deficit																																																																																		-2,526,914	-2,526,914
shareholder receivable																																																																																												1,928,253
retained (deficit)/earnings																																																																																				-1,114,282
(cumulative deficit)/retained earnings																																																																																					-1,114,282
deposits on vessel purchases																																																																																						5,216,080	5,216,080
acquired time charter contracts																																																																																						573,344	573,344
other																																																																																						2,395	2,395
unamortized value of time charter contracts acquired																																																																																								1,935,107	1,935,107
deposits on vessels																																																																																								7,300,000	7,300,000
bank loan, net of deferred financing fees																																																																																								1,679,662	1,679,662
liabilities and shareholder's equity
shareholder's equity
total shareholder's equity																																																																																										62,493,062	62,493,062	61,328,542
total liabilities and shareholder's equity																																																																																										105,699,219	105,699,219	104,423,386
shareholder payable
related party payable

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-05-09	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-05-02	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-05-06	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-04-27	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-04-27	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-05-03	2012-03-31	2012-02-22	2011-11-14	2010-12-31	2010-09-30

operating activities																																																			5,284,000
net income	84,452,000	73,509,000	58,213,000	68,557,000	158,705,000	227,321,000	214,191,000	214,191,000	120,890,000	100,370,000	132,401,000	193,237,000		264,403,000	266,165,000			-45,992,000	-73,267,000	-52,782,000	-62,394,000	-76,259,000	-20,185,000	143,941,000	46,627,000	46,627,000				14,476,000				116,571,760					-27,115,000	3,846,000	28,031,000	28,031,000		85,252,000	57,588,000	40,695,000	40,695,000		-1,167,000											-5,100,680		-6,884,608
depreciation			44,671,000																												44,584,000		43,455,000	136,418	36,342,000	31,039,000	30,502,000		30,686,000	29,885,000	30,204,000	30,204,000		29,525,000	25,550,000	21,408,000	21,408,000		11,574,000					5,521,000	4,767,000	4,604,992		3,178,034	3,645,703	3,645,703		5,169,926	3,505,691	3,371,725
equity settled share based compensation expense			17,075,000	16,447,000	16,923,000	19,529,000	9,610,000	9,610,000
amortization of deferred financing fees			1,763,000	1,522,000	2,014,000	2,722,000	2,978,000	2,978,000	2,801,000			1,160,000	1,160,000	1,346,000	1,555,000	1,678,000	1,806,000	1,907,000	1,974,000	1,864,000	1,825,000	1,834,000	1,737,000	1,628,000	1,458,000		1,368,000	1,585,000	1,873,000	2,215,000	2,080,000		3,306,000		3,729,000	3,389,000	3,251,000		12,431,000	7,324,000	5,643,000	5,643,000		5,718,000	3,964,000	3,124,000	3,124,000		1,839,000					281,000	255,000	249,264		300,910	326,913	326,913			107,189	104,316
non-cash debt extinguishment costs			264,000	450,000	0	2,688,000	322,000	322,000	2,194,000			1,148,000	1,148,000
net gain on sales of vessels					-69,306,000	-43,325,000	-11,330,000	-11,330,000
accretion of fair value measurement on debt assumed in business combinations			17,000	20,000	21,000	20,000	21,000	21,000	172,000			338,000	338,000	350,000	360,000	507,000	889,000	1,100,000	896,000	839,000	847,000	824,000	856,000	865,000	877,000
fair value gain on financial assets measured at fair value through profit or loss			-9,447,000
share of income from dual fuel tanker joint venture	-4,769,000	2,859,000	-1,051,000			-1,327,000	-1,519,000	-1,519,000	-1,010,000			-1,441,000	-1,441,000	16,000	-562,000	41,000	-174,000
dividend from financial assets measured at fair value through profit or loss			-1,906,000
changes in assets and liabilities:
increase in inventories			-2,852,000																				772,000	61,000	-1,221,000												-652,000							-976,000					-1,459,000					363,000	-719,000			1,370,354	-1,931,613	-1,931,613		-486,965		202,571
decrease in accounts receivable				20,638,000	58,632,000	8,419,000	-30,644,000		-10,952,000			43,108,000						2,684,000	-9,023,000			1,598,000	55,107,000	33,615,000	-70,363,000			-5,188,000			-4,483,000		9,514,000		-4,485,000	4,662,000	4,053,000				13,304,000	13,304,000				2,104,000
increase in prepaid expenses and other current assets																-1,427,000	-3,156,000																						-2,622,000	-3,843,000	-1,035,000	-1,035,000		2,826,000	1,650,000	-9,318,000	-9,318,000		437,000
decrease in other assets				0	-50,000	400,000	1,250,000	1,250,000	335,000			685,000		2,787,000				-153,000	-151,000	-150,000	-147,000		392,000	620,000	46,000												-1,745,000																					173,328	894,477
increase in accounts payable and other liabilities
decrease in accrued expenses			-27,480,000		-2,409,000	10,133,000	-14,036,000	-14,036,000											2,610,000	-1,902,000	-6,745,000				-4,870,000								-3,538,000				-2,754,000		-3,495,000	322,000	-9,695,000	-9,695,000
net cash inflow from operating activities			63,906,000	113,238,000	217,709,000	272,103,000	222,130,000	222,130,000	185,825,000			276,477,000	276,477,000	316,345,000				50,220,000				16,641,000	110,645,000	247,994,000	44,101,000		69,064,000	19,171,000	46,710,000	74,567,000	-17,722,000		34,849,000		-23,341,000	25,976,000	33,541,000		28,731,000	47,738,000	78,870,000	78,870,000		127,411,000	94,106,000	64,439,000	64,439,000																-1,391,444	2,385,491
investing activities																																																			-36,105,000
net proceeds from sales of vessels					216,129,000	70,154,000	38,561,000	38,561,000	32,692,000						66,707,000	315,372,000	225,815,000
distributions from dual fuel tanker joint venture			1,225,000	1,035,000	6,556,000	765,000	495,000	495,000	333,000			845,000	845,000	0	253,000	0	240,000
investment in dual fuel tanker joint venture				0	0	-1,576,000	-361,000	-361,000
purchases of financial assets measured at fair value through profit or loss			-42,402,000
proceeds from sale of financial assets measured at fair value through profit or loss			8,293,000
drydock, ballast water treatment system and other vessel related payments			-24,663,000
net cash (outflow) / inflow from investing activities			-55,641,000									-7,638,000	-7,638,000																						-9,926,000
financing activities																																																			146,963,000
debt repayments			-89,057,000	-41,448,000	-82,742,000	-397,623,000	-313,867,000	-313,867,000	-449,637,000			-138,641,000	-138,641,000	-301,514,000	-162,344,000	-316,601,000	-191,163,000	-246,804,000	-62,674,000	-116,692,000	-224,757,000	-259,340,000	-159,075,000	-273,040,000	-108,617,000		-113,228,000	-63,368,000	-46,395,000	-120,360,000	-565,764,000		-46,703,000		-125,979,000	-186,291,000	-97,182,000		-452,336,000	-175,898,000	-100,688,000	-100,688,000		-114,756,000	-44,581,000	-30,453,000	-30,453,000		-8,325,000
issuance of debt			200,000,000	0	0	0	99,000,000	99,000,000	374,850,000			274,088,000	274,088,000	0	1,000	118,831,000	3,806,000	261,919,000	21,307,000	94,157,000	273,421,000	254,780,000	132,416,000	244,248,000	73,946,000						708,933,000		21,450,000		108,115,000	130,300,000	187,475,000		418,837,000	102,941,000	43,250,000	43,250,000		179,200,000	225,200,000	204,400,000	204,400,000		372,167,000
debt issuance costs			-11,581,000	-14,000	-138,000	0	-202,000	-202,000	-949,000			-5,244,000	-5,244,000	-1,000	-80,000	-1,437,000	-184,000	-3,740,000	-4,956,000	-5,481,000	-3,643,000	-2,512,000	-1,305,000	-7,923,000	-1,783,000		-4,043,000	-413,000	-4,000	-1,284,000	-8,472,000		-2,354,000		-2,081,000	-2,870,000	-7,435,000		-6,549,000	-1,415,000	-1,833,000	-1,833,000		-3,947,000	-1,599,000	-2,370,000	-2,370,000		-4,852,000					-96,000	-343,000	-349,450		-690,719	-1,405,811	-1,405,811
dividends paid			-19,967,000	-20,003,000	-20,633,000	-21,636,000	-21,243,000	-21,243,000	-18,589,000			-11,873,000	-11,873,000	-5,630,000	-5,905,000	-5,941,000	-5,837,000	-5,837,000	-5,837,000	-5,837,000	-5,809,000	-5,800,000	-5,763,000	-5,872,000	-5,867,000		-5,814,000	-5,185,000	-5,139,000	-5,140,000	-3,319,000		-3,264,000		-2,805,000	-1,747,000	-1,746,000		-21,835,000	-21,630,000	-21,629,000	-21,629,000		-22,609,000	-22,626,000	-19,659,000	-19,659,000		-16,886,000
repurchase of common stock			-309,000	-38,876,000	-242,991,000				-12,035,000			-138,180,000	-138,180,000	-76,480,000								0					0	0	0	-1,000									-2,798,000	0	-13,707,000	-13,707,000		-45,441,000	0	-5,907,000	-5,907,000		-101,949,000
net cash outflow from financing activities				-100,341,000	-346,504,000	-472,985,000	-236,312,000	-236,312,000	-222,219,000			-33,054,000	-33,054,000										-110,333,000						-56,925,000	-131,097,000
increase in cash and cash equivalents			87,351,000				13,953,000	13,953,000	-9,357,000			235,785,000	235,785,000	-90,765,000	108,107,000	116,844,000	12,269,000	37,995,000	-89,809,000	12,691,000	82,027,000	-30,584,000	-32,497,000	130,767,000	-82,478,000		-42,177,000				103,248,000		-23,083,000				29,572,000				-31,743,000			-53,823,000	91,169,000	19,551,000	19,551,000		-216,766,000										-2,127,487			-69,112,527
cash and cash equivalents at january 1,			332,580,000	0	0	0	355,551,000	355,551,000	0			376,870,000	376,870,000	0	0	0	230,415,000	0	0	0	187,511,000	0	0	0	202,303,000		0	0	0	593,652,000	0		186,462,000		0	0	99,887,000		0	0	200,970,000	200,970,000		0	0	116,143,000	116,143,000		0					0	87,165,000	-90		0	36,833,090	36,833,090		0	0	-1
cash and cash equivalents at september 30,
revenue
vessel revenue																										254,167,000
operating expenses
vessel operating costs																										-81,463,000
voyage expenses																										-4,220,000
depreciation - owned or sale and leaseback vessels
general and administrative expenses																										-17,261,000
gain on sales of vessels
total operating expenses																										-162,982,000
operating income																										91,185,000
other (expense) and income
financial expenses																										-44,765,000
financial income																										565,000
dividend income and fair value gain on financial assets measured at fair value through profit or loss
other income and (expenses)
total other expense																										-44,558,000
attributable to:
equity holders of the parent																										46,627,000
earnings per share
basic																										850
diluted																										820
basic weighted-average shares outstanding																										54,667,211,000
diluted weighted-average shares outstanding																										61,692,830,000
in thousands of u.s. dollars except share data
balance as of january 1, 2024
net income for the period
issuance of restricted stock, net of forfeitures																										4,000
purchase of treasury shares																																																								-39
dividends paid, 0.80 per share
balance as of june 30, 2024
balance as of january 1, 2025
balance as of june 30, 2025
in thousands of u.s. dollars																			0
fair value loss on financial assets measured at fair value through profit or loss				13,888,000
share of income and gain on sale of vessel from dual fuel tanker joint venture
dividend from dht holdings, inc.				-1,756,000
increase in accounts receivable			-18,479,000														-27,137,000				-12,069,000									4,208,000														-4,663,000					-4,028,000					-15,199,000	-11,211,000	-10,476,707		3,085,844	-6,693,906	-6,693,906		-3,088,258
principal repayments on debt and sale and leaseback obligations
cash and cash equivalents at january 1, 2025
cash and cash equivalents at june 30, 2025
supplemental information:
interest paid																										40,830,000																																	1,736,589	1,736,589		1,446,730	1,655,699
decrease in prepaid expenses and other current assets			-413,000			-144,000	84,000	84,000				8,516,000		3,027,000				1,948,000	4,461,000	-1,333,000	-600,000	-28,000	-546,000	-82,000	2,080,000				405,000	-580,000	-5,461,000		7,608,000				734,000
increase in accounts payable			3,531,000	-1,011,000	14,394,000	-1,324,000	3,663,000							8,493,000			-17,162,000	18,019,000			2,428,000	-274,000	603,000				-3,880,000	6,713,000			692,000		-2,323,000				2,326,000				326,000	326,000		-1,572,000	-3,241,000	10,722,000	10,722,000		-4,784,000					1,091,000	593,000			-932,320	3,264,960			468,392
net cash inflow / (outflow) from financing activities			79,086,000															-7,656,000	-66,566,000	-4,352,000	100,456,000														-49,775,000	128,171,000	79,334,000
cash and cash equivalents at march 31,			419,931,000				369,504,000	369,504,000				612,655,000	612,655,000				242,684,000				269,538,000				119,825,000	119,825,000				518,882,000			163,379,000				129,459,000									135,694,000	135,694,000								411,866,000				34,705,603	34,705,603
depreciation - right of use assets									2,105,000			9,490,000	9,490,000	9,772,000	9,567,000	9,768,000	9,720,000	10,337,000	10,408,000	10,200,000	11,841,000	12,578,000	12,166,000	13,609,000	13,197,000		12,636,000	6,250,000	5,895,000	2,135,000
reversal of previously recorded impairment
accretion of convertible notes														1,860,000	3,110,000	3,620,000	4,128,000	4,086,000	3,795,000	3,462,000	1,922,000	1,790,000	2,058,000	2,306,000	2,259,000		2,213,000			3,493,000	3,376,000		3,200,000		3,100,000	3,005,000	3,004,000		2,910,000	2,839,000	2,901,000	2,901,000
net loss on sales of vessels									-4,892,000					0
write-off of deposits on scrubbers
gain on repurchase of convertible notes																																							0	-413,000	-581,000	-581,000
decrease in inventories				-1,272,000	-706,000	314,000	-370,000		1,164,000			7,256,000		-339,000	-13,056,000	8,462,000	-2,589,000	-243,000	-143,000	-291,000	1,157,000						885,000	-770,000	-71,000	-390,000	7,000		882,000								-212,000					825,000
increase in accrued expenses and other current liabilities
net proceeds from disposal of vessels
drydock, scrubber, ballast water treatment system and other vessel related payments				-39,043,000	-30,448,000	-13,316,000	-10,560,000	-10,560,000	-5,988,000			-8,483,000	-8,483,000	-8,062,000	-3,639,000	-8,500,000	-14,279,000	-6,094,000	-13,700,000	-10,707,000	-16,601,000	-21,863,000	-32,809,000	-56,319,000	-63,486,000
investment in dht holdings, inc.				0
net cash inflow from investing activities				118,682,000					27,037,000
principal repayments on ifrs 16 lease liabilities
decrease in restricted cash														0	0	2,005,000	2,003,000					4,999,000
repurchase / repayment of convertible notes														0	-1,717,000							0
cash and cash equivalents at december 31,																																									169,227,000	169,227,000
depreciation - owned or sale leaseback vessels					45,512,000	46,677,000	47,910,000	47,910,000	48,555,000			40,491,000	40,491,000
principal repayments on lease liability - ifrs 16									-116,642,000			-13,204,000	-13,204,000		-13,462,000	-38,902,000	-13,666,000		-14,406,000	-13,818,000	-14,856,000		-18,756,000	-20,896,000	-20,772,000					-1,726,000
decrease in cash and cash equivalents					-23,648,000																								-51,663,000	-74,770,000
net cash inflow / (outflow) from investing activities						56,027,000	28,135,000	28,135,000						-10,013,000	63,321,000	306,872,000	211,776,000																						-8,913,000
cash and cash equivalents at june 30,
operating activities - sum							262,183,000								325,251,000	258,003,000	49,847,000	27,610,000	-3,590,000	20,795,000	14,148,000	14,690,000	52,730,000	218,274,000	119,104,000		83,095,000			74,512,000	-7,725,000		25,777,000				31,579,000				75,784,000					74,431,000													4,224,272
(increase) / decrease in inventories								-370,000
(increase) / decrease in accounts receivable								-30,644,000
increase / (decrease) in accounts payable								3,663,000
amortization of restricted stock									18,502,000			3,821,000	3,821,000	4,249,000	5,472,000	6,182,000	4,494,000	4,700,000	5,748,000	6,291,000	6,192,000	6,372,000	6,779,000	7,510,000	7,845,000		6,714,000	6,847,000	6,676,000	7,184,000	6,223,000		6,650,000	10,385	5,875,000	5,316,000	6,289,000		7,588,000	7,180,000	8,308,000	8,308,000		9,653,000	7,464,000	7,676,000	7,676,000		7,632,000					2,382,000	500,000	892,099		891,873	814,155	814,155			457,095	457,095
gain on convertible notes transactions
decrease in accounts payable									-11,090,000			-3,743,000	-3,743,000												-675,000					-1,543,000
increase in accrued expenses									-2,615,000			-27,589,000		20,254,000	27,092,000	12,663,000	5,758,000					1,084,000	1,587,000				6,531,000	1,459,000	1,236,000	1,036,000																-11,847,000										205,925		-83,961	1,196,044	1,196,044		-105,858	-1,562,094
net (gain) / loss on sales of vessels
decrease / (increase) in inventories													7,256,000																										283,000
decrease / (increase) in accounts receivable													43,108,000																										5,314,000
(decrease) / increase in accrued expenses													-27,589,000
(decrease) / increase in cash and cash equivalents																																							-44,863,000			-31,743,000
depreciation - right of use assets for vessels
loss on sales of vessels and write-down of vessel held for sale
other income
balance as of january 1, 2022
amortization of restricted stock, net of forfeitures																										-1,000
dividends paid, 0.20 per share
write off of equity portion of convertible notes due 2025
balance as of june 30, 2022
balance as of january 1, 2023
dividends paid, 0.45 per share
balance as of june 30, 2023
write-off of deferred financing fees and unamortized discounts on sale and leaseback facilities																2,957,000	1,586,000	2,278,000	0	51,000	1,275,000	757,000
loss on sales of vessels and write-down of vessels held for sale
accretion of fair value measurement on debt assumed from historical acquisitions
gain on convertible notes exchange
net income /													193,237,000
net income on sales of vessels
decrease / (increase) in prepaid expenses and other current assets													8,516,000
decrease / (increase) in other assets													685,000																										1,768,000
gain on sale and leaseback amendment																		0
loss on convertible notes transactions															-69,000
issuance of convertible notes																				43,319,000	76,100,000
equity issuance costs																						0	0				-4,000	-34,000	-10,000	-285,000	0		-4,000		0				0					-95,000					0
net cash (outflow) / inflow from financing activities														-397,097,000	-268,400,000	-324,296,000	-205,041,000								-63,093,000		-32,837,000						-31,643,000						-64,681,000	-100,264,000	-98,762,000	-98,762,000
(reversal of previously recorded impairment) / impairment of goodwill and vessels
loss on repurchase / exchange of convertible notes
gross proceeds from issuance of common stock																						0	0				0								0
write-off of deferred financing fees and unamortized discounts on debt
depreciation - owned or finance leased vessels																41,051,000	44,108,000		49,707,000	49,222,000	48,784,000		49,377,000	48,102,000	46,841,000		46,477,000	45,392,000	44,369,000	43,814,000
loss on sales of vessels																1,480,000	67,738,000
increase in other assets																-158,000	-27,000											-482,000	-131,000	-2,676,000	2,140,000		-3,071,000								398,000			-3,640,000	-3,242,000	-2,365,000	-2,365,000
net cash inflow / (outflow) from operating activities																134,268,000	5,534,000																																15,418,000
net loss																	-84,448,000										12,042,000	-45,288,000			-71,709,000		-31,794,000																										-5,100,680
impairment of goodwill and vessels
changes in assets and liabilities: - sum																								29,720,000	-75,003,000		-14,031,000			55,000	-9,997,000		9,072,000				1,962,000									-9,992,000													-3,229,697
acquisition of vessels and payments for vessels under construction																															0		-25,851,000		-52,538,000	-64,894,000	-83,303,000		-8,913,000	-27,758,000	-75,114,000	-75,114,000		-283,108,000	-371,966,000	-203,501,000	-203,501,000		-472,156,000					-168,368,000	-155,180,000	-14,934,103
net cash outflow from investing activities																		-4,569,000	-20,401,000	-10,707,000	-16,601,000	-21,863,000	-32,809,000	-56,319,000	-63,486,000				-41,448,000	-18,240,000	-10,407,000		-26,289,000				-83,303,000				-11,851,000	-11,851,000		-171,954,000	-311,684,000	-190,899,000	-190,899,000		-472,156,000						-155,180,000	-14,933,613			-2,629,204	-2,629,204		-444,851	-47,466,330	-73,992,974
investment in dual fuel tankers
issuance / (repurchase / repayment) of convertible notes
non-cash portion of loss on convertible notes exchange
net cash (outflow) / inflow from operating activities																				27,750,000	-1,828,000
loss on convertible notes exchange																					3,856,000
refund of debt issuance costs due to early debt repayment
gain on repurchases of convertible notes
write-off of deferred financing fees																											755,000	436,000	0	275,000	5,911,000				630,000	801,000	66,000
increase in restricted cash																											0	0	0	-9,000			-768,000			70,000	-1,778,000
repayment of convertible notes																											-26,000			-2,292,000									0	-4,238,000	-4,155,000	-4,155,000
charterhire
depreciation - owned or sale and leaseback																										-46,841,000
depreciation - right of use assets under ifrs 16																										-13,197,000
other expenses																										-358,000
balance as of january 1, 2019																										5,776,000
adoption of accounting standards
reverse stock split - impact of fractional shares and change in total par value																										-5,198,000
dividends paid, 0.10 per share
balance as of march 31, 2019																										577,000
balance as of january 1, 2020																										646,000
balance as of march 31, 2020																										650,000
increase accrued expenses
drydock, scrubber and bwts payments
loss from sales of vessels
bargain purchase gain																																		-7,417	0
share based transaction costs
accretion of fair market measurement on debt assumed from merger with npti
loss on exchange of convertible notes																															870,000
(increase) in accounts receivable
(increase) in other assets
proceeds from disposal of vessels																																			27,463,000				0	94,912,000	63,263,000	63,263,000		-4,000	60,282,000	12,602,000	12,602,000		0							490
net cash paid for the merger with npti
redemption of npti redeemable preferred shares
accretion of convertible senior notes																																												2,813,000	2,736,000	2,735,000	2,735,000		2,651,000
loss on exchange of convertible senior notes
ifrs 16 - lease liability repayments
repayment of convertible senior notes
accretion of fair value measurement on debt assumed from npti																														920,000	940,000		960,000
drydock, scrubber, ballast water treatment and other vessel related payments																														-18,240,000
unrealized gain on derivative financial instruments																																																	-75,000					-321,000	-44,000
amortization of acquired time charter contracts																																							0	0	65,000	65,000		101,000	151,000	195,000	195,000		163,000														573,344	1,361,763
share-based transaction costs
net cash paid for the acquisition of the four lr1 vessels from npti
drydock payments																																	-438,000		-2,446,000														-337,000					-179,000	-1,202,000	-1,552,440		0	-119,266	-119,266		-1,840,979	-449,328
net cash inflow from financing activities																																												-9,280,000	308,747,000	146,011,000	146,011,000		239,972,000													-61,916,756
cash flow data
net cash inflow /
general and administrative expenses - cash
merger transaction related costs - cash
financial expenses - cash
realized loss on derivative financial instruments
change in working capital
financial income - cash
other																																																											-25,663	-25,663
operating cash flow
gain on sale of dorian shares																																																	0
write-off of vessel purchase options
share based merger transaction costs
unrealized loss on derivative financial instruments																																									-1,002,000					606,000
interest rate swap termination payment																																												0	-15,000	-113,000	-113,000		0														0	0
proceeds from sale of dorian shares
deposit returned for vessel purchases
other comprehensive income
total comprehensive income
balance as of january 1, 2016
issuance of restricted stock
dividends paid, 0.375 per share
equity component of repurchase of convertible notes
balance as of september 30, 2016
balance as of january 1, 2017
net loss for the period
net proceeds from follow on offering
dividends paid, 0.030 per share
shares issued as consideration for merger with navig8 product tankers, 4.02 per share
warrants exercised relating to merger with navig8 product tankers
balance as of september 30, 2017
warrants issued relating to merger with npti
accretion of fair market measurement discount and premiums of debt of the acquired four lr1 vessels and navig8 merger
net cash paid for the merger with navig8 product tankers inc
redemption of navig8 product tankers redeemable preferred shares
net (loss) / income																																			-36,948,000	-68,249,000	-11,533,000
accretion of fair value measurement on debt assumed from merger with npti
(increase) / decrease in other assets																																			-15,449,000
increase / (decrease) in cash and cash equivalents																																			-83,042,000
loss on sales of vessels and write down of vessel held for sale
share-based transaction costs for the acquired four lr1 vessels from npti
accretion of fair value measurement discount for debt assumed on the acquired four lr1 vessels from npti
increase / (decrease) in accrued expenses
loss on sales of vessels and write down of vessels held for sale
net cash inflow/
loss / (gain) on sales of vessels																																							0
write down of vessels held for sale
unrealized (gain)/loss on derivative financial instruments																																										-1,002,000
unrealized (gain) / loss on derivative financial instruments																																															606,000
(decrease) / increase in accounts payable
loss on sale of vessels and write down of vessels held for sale																																									2,215,000
loss / (gain) on sale of vessels and write down of vessels held for sale																																										2,215,000
(increase)/decrease in inventories																																										-212,000					825,000
increase/(decrease) in other assets																																										398,000
gain on sale of vlccs																																																	0
gain on sale of vessels																																												3,000	-11,000	-2,008,000	-2,008,000
write-down of vessel held for sale
straight-line adjustment for charterhire expense																																																	0					-87,000	-31,000	-184,604		44,518	44,308	44,308
share of income from associate																																																	-463,000
unrealized loss / (gain) on derivative financial instruments
gain on repurchase of convertible senior notes
(decrease)/increase in accrued expenses																																																						-745,000	-88,000
(repayment) / proceeds of convertible senior notes
convertible senior notes issuance costs																																																	-183,000
proceeds from issuance of common stock																																												0
proceeds from issuance of convertible senior notes																																																	0
share of loss from associate
(increase)/decrease in accounts receivable																																															2,104,000
increase/(decrease) in accrued expenses																																															-11,847,000
gain on sale of vlgcs
write down of investment in dorian
write down of vessels held for sale and loss from sales of vessels
vlgc installment payments
investment in associate
unaudited condensed consolidated cash flows
net cash inflow / (outflow) in respect of:
2010 revolving credit facility																																																			47,773,000
sti spirit credit facility																																																			21,356,000
2011 credit facility																																																			114,863,000
newbuilding credit facility																																																			82,339,000
2013 credit facility																																																			84,676,000
k-sure credit facility
kexim credit facility
total																																																			351,007,000
write down of vessels held for sale and income from sales of vessels
impairment
write off of vessel purchase options
share of profit from associate
(increase)/decrease in prepaid expenses and other current assets																																																						-2,140,000	-1,006,000
(increase)/decrease in other assets
(decrease)/increase in accounts payable
net cash outflow from operating activities																																																							-1,576,000
bank loan repayment																																																						-19,614,000	-1,838,000	-53,087,404		-43,829,673	-15,061,384	-15,061,384		-66,061,385	-3,400,030	-1,425,388
bank loan drawdown																																																						17,675,000	34,375,000	-1,500		9,707,900	16,000,000	16,000,000
(decrease)/increase in cash and cash equivalents																																																												-2,127,487
loss from sale of vessels
income from sale of vessels
(decrease)/increase in other assets
net income/																																																							6,610,000
net proceeds from issuance of common stock																																																							449,263,000	127,190,248						-33,791		712
net cash inflow/(outflow) from financing activities																																																							481,457,000								74,446,601	102,089,942
increase/(decrease) in cash and cash equivalents																																																							324,701,000
decrease in prepaid expenses																																																											159,607
decrease/(increase) in inventories
decrease/(increase) in prepaid expenses																																																												159,607
decrease/(increase) in other assets																																																												894,477
increase/(decrease) in accounts payable																																																												3,264,960
net cash inflow/(outflow) from operating activities																																																										4,331,907	994,575	994,575
net cash inflow/(outflow)from financing activities
q4 2012
q1 2013
q2 2013
q3 2013
q4 2013
q1 2014
acquisition of vessels																																																														-295,001	-52,556,073	-73,730,004
payments for vessels under construction
net cash inflow/(outflow) from investing activities
net cash (outflow)/inflow from financing activities																																																										-10,905,080	-492,858	-492,858
loss from sale of vessel and write down of vessels held for sale																																																											4,493,873
disposal of vessels																																																											20,514,797	20,514,797
vessels under construction																																																											-23,144,001	-23,144,001		-149,850
income from sale of vessel and write down of vessels held for sale																																																												4,493,873
decrease in the value of derivative financial instruments
decrease in shareholder receivable
net cash (outflow)/inflow from operating activities																																																														-6,750,920
acquisition of time charter contracts																																																															0
purchases of other assets
repurchase of treasury shares
net cash provided by/
q4 2011
q1 2012
q2 2012
q3 2012
amortisation of restricted stock
amortisation of deferred financing fees
amortisation of acquired time charter contracts
(increase)/decrease in prepaid expenses
deposit on vessel purchases
deposits on vessel purchases
proceeds from long term debt
debt issuance fees																																																															-129,717	-25,076
acquisition of treasury shares																																																															-1
net (loss)/income
decrease in shareholder payable
proceeds of long term debt																																																															24,812,500
cash and cash equivalents at december 31
decrease/(increase) in the value of derivative financial instruments
decrease/(increase) in shareholder receivable
net proceeds/(payments) from issuance of common stock
vessel impairment
unrealized loss on derivatives
increase in shareholder receivable
unrealized loss/(gain) on derivatives
increase/(decrease) in shareholder receivable
value of acquired time charter contracts
net receipts from (payments to) shareholder
deposits on vessels
proceeds of long-term debt

Scorpio Tankers Inc(NYSE:STNG)

Scorpio Tankers Inc
(NYSE:STNG)