XML 67 R45.htm IDEA: XBRL DOCUMENT v3.25.1
Segment reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Operating Segments [Abstract]  
Disclosure of operating segments
Information about our reportable segments for the years ended December 31, 2024, 2023, and 2022 is as follows:

For the year ended December 31, 2024

 In thousands of U.S. dollars  Handymax  LR2  MR  Reportable segments subtotal  Corporate and eliminations  Total
 Vessel revenue $120,542 $571,422 $551,987 $1,243,951 $— $1,243,951 
 Vessel operating costs (39,174)(127,540)(152,433)(319,147)— (319,147)
 Voyage expenses (3,998)(15,504)(10,869)(30,371)— (30,371)
 Depreciation - vessels and drydock(20,423)(80,191)(84,705)(185,319)— (185,319)
 General and administrative expenses (1,211)(3,260)(4,441)(8,912)(112,136)(121,048)
 Gain on sale of vessels — 26,326 150,211 176,537 — 176,537 
 Financial expenses — — — — (109,539)(109,539)
 Financial income — — — — 15,947 15,947 
 Income from joint venture — — — — 7,664 7,664 
 Dividend income and fair value loss on financial assets measured at fair value through profit or loss — — — — (11,176)(11,176)
 Other income and (expenses), net — 1,469 166 1,635 (360)1,275 
Segment income or loss$55,736 $372,722 $449,916 $878,374 $(209,600)$668,774 
For the year ended December 31, 2023

 In thousands of U.S. dollars  Handymax  LR2  MR  Reportable segments subtotal  Corporate and eliminations  Total
 Vessel revenue $154,586 $530,736 $655,900 $1,341,222 $— $1,341,222 
 Vessel operating costs (37,940)(114,595)(163,047)(315,582)— (315,582)
 Voyage expenses (3,712)(5,536)(3,995)(13,243)— (13,243)
Depreciation - vessels and drydock(20,654)(76,383)(81,222)(178,259)— (178,259)
Depreciation - right of use assets for vessels— (4,910)(19,334)(24,244)— (24,244)
 General and administrative expenses (1,432)(3,876)(4,748)(10,056)(96,199)(106,255)
Write-off of deposits on scrubbers— — (10,508)(10,508)— (10,508)
Gain on sale of vessels — — 12,019 12,019 — 12,019 
 Financial expenses — — — — (183,231)(183,231)
 Financial income — — 617 617 18,495 19,112 
 Income from joint venture— — — — 5,950 5,950 
 Other expenses, net— — — — (83)(83)
 Segment income or loss $90,848 $325,436 $385,682 $801,966 $(255,068)$546,898 
For the year ended December 31, 2022

 In thousands of U.S. dollarsLR1 HandymaxLR2 MR Reportable segments subtotal Corporate and eliminations Total
Vessel revenue $11,196 $243,951 $570,668 $737,058 $1,562,873 $— $1,562,873 
Vessel operating costs (9,076)(36,507)(112,407)(165,735)(323,725)— (323,725)
Voyage expenses — (44,996)(26,641)(21,061)(92,698)— (92,698)
Depreciation - vessels and drydock(1,593)(20,874)(75,360)(70,181)(168,008)— (168,008)
Depreciation - right of use assets for vessels— — (8,297)(30,530)(38,827)— (38,827)
General and administrative expenses (335)(1,367)(4,134)(6,230)(12,066)(76,065)(88,131)
Reversal of previously recorded impairment— — — 12,708 12,708 — 12,708 
Net loss on sale of vessels(44,701)— (12,446)(9,339)(66,486)— (66,486)
Financial expenses— — — — — (169,795)(169,795)
Gain on repurchase of convertible notes— — — — — 481 481 
Financial income20 — — 637 657 6,227 6,884 
Income from joint venture— — — — — 679 679 
Other income and (expenses), net1,577 — — — 1,577 (281)1,296 
Segment income or loss$(42,912)$140,207 $331,383 $447,327 $876,005 $(238,754)$637,251 
Disclosure of revenue from major customers
Revenue from customers representing greater than 10% of total revenue during the years ended December 31, 2024, 2023, and 2022, within their respective segments was as follows:
 
In thousands of U.S. dollarsFor the year ended December 31,
 Segment Customer202420232022
 MR
Scorpio MR Pool Limited (1)
$497,003 $605,442 $639,743 
 LR2
Scorpio LR2 Pool Limited (1)
416,014 405,244 456,002 
 Handymax
Scorpio Handymax Tanker Pool Limited (1)
118,432 135,481 79,636 
  $1,031,449 $1,146,167 $1,175,381 

(1)These customers are related parties as described in Note 15.