Scorpio Tankers Inc. | CIK:0001483934 | 3

  • Filed: 3/23/2018
  • Entity registrant name: Scorpio Tankers Inc. (CIK: 0001483934)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1483934/000148393418000015/0001483934-18-000015-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1483934/000148393418000015/stng-20171231.xml
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    • ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory

    Segment reporting

    Information about our reportable segments for the years ended December 31, 2017, 2016 and 2015 is as follows:

    For the year ended December 31, 2017
     In thousands of U.S. dollars
     
    LR1/Panamax
     
     Handymax
     
    LR2
     
     MR
     
     Reportable segments subtotal
     
     Corporate and eliminations
     
     Total
     Vessel revenue
     
    $
    22,573

     
    $
    95,098

     
    $
    157,123

     
    $
    237,938

     
    $
    512,732

     
    $
    —

     
    $
    512,732

     Vessel operating costs
     
    (12,561
    )
     
    (50,145
    )
     
    (67,254
    )
     
    (101,267
    )
     
    (231,227
    )
     
    —

     
    (231,227
    )
     Voyage expenses
     
    (1,018
    )
     
    (3,087
    )
     
    (2,642
    )
     
    (986
    )
     
    (7,733
    )
     
    —

     
    (7,733
    )
     Charterhire
     
    (2,230
    )
     
    (24,560
    )
     
    (6,258
    )
     
    (42,702
    )
     
    (75,750
    )
     
    —

     
    (75,750
    )
     Depreciation
     
    (7,828
    )
     
    (18,159
    )
     
    (54,922
    )
     
    (60,509
    )
     
    (141,418
    )
     
    —

     
    (141,418
    )
     General and administrative expenses
     
    (479
    )
     
    (2,170
    )
     
    (2,805
    )
     
    (4,569
    )
     
    (10,023
    )
     
    (37,488
    )
     
    (47,511
    )
     Loss on sales of vessels
     
    —

     
    —

     
    —

     
    (23,345
    )
     
    (23,345
    )
     
    —

     
    (23,345
    )
     Merger transaction related costs
     
    —

     
    —

     
    —

     
    —

     
    —

     
    (36,114
    )
     
    (36,114
    )
     Bargain purchase gain
     
    —

     
    —

     
    —

     
    —

     
    —

     
    5,417

     
    5,417

     Financial expenses
     
    —

     
    —

     
    —

     
    —

     
    —

     
    (116,240
    )
     
    (116,240
    )
     Realized loss on derivative financial instruments
     
    —

     
    —

     
    (116
    )
     
    —

     
    (116
    )
     
    —

     
    (116
    )
     Financial income
     
    26

     
    214

     
    15

     
    338

     
    593

     
    945

     
    1,538

     Other expenses, net
     
    —

     
    1,876

     
    —

     
    —

     
    1,876

     
    (349
    )
     
    1,527

     Segment income or loss
     
    $
    (1,517
    )
     
    $
    (933
    )
     
    $
    23,141

     
    $
    4,898

     
    $
    25,589

     
    $
    (183,829
    )
     
    $
    (158,240
    )


    For the year ended December 31, 2016

     In thousands of U.S. dollars
     
    LR1/Panamax
     
     Handymax
     
    LR2
     
     MR
     
     Reportable segments subtotal
     
     Corporate and eliminations
     
     Total
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     Vessel revenue
     
    $
    5,843

     
    $
    85,578

     
    $
    165,256

     
    $
    265,020

     
    $
    521,697

     
    $
    1,050

     
    $
    522,747

     Vessel operating costs
     
    (33
    )
     
    (32,817
    )
     
    (50,028
    )
     
    (104,242
    )
     
    (187,120
    )
     
    —

     
    (187,120
    )
     Voyage expenses
     
    (19
    )
     
    (479
    )
     
    (375
    )
     
    (705
    )
     
    (1,578
    )
     
    —

     
    (1,578
    )
     Charterhire
     
    (5,657
    )
     
    (26,292
    )
     
    (16,025
    )
     
    (30,888
    )
     
    (78,862
    )
     
    —

     
    (78,862
    )
     Depreciation
     
    —

     
    (18,014
    )
     
    (41,900
    )
     
    (61,547
    )
     
    (121,461
    )
     
    —

     
    (121,461
    )
     General and administrative expenses
     
    (7
    )
     
    (1,410
    )
     
    (1,983
    )
     
    (4,485
    )
     
    (7,885
    )
     
    (47,014
    )
     
    (54,899
    )
     Loss on sales of vessels
     
    —

     
    —

     
    —

     
    (2,078
    )
     
    (2,078
    )
     
    —

     
    (2,078
    )
     Financial expenses
     
    —

     
    —

     
    —

     
    —

     
    —

     
    (104,048
    )
     
    (104,048
    )
     Unrealized gain on derivative financial instruments
     
    —

     
    —

     
    1,371

     
    —

     
    1,371

     
    —

     
    1,371

     Financial income
     
    —

     
    6

     
    37

     
    47

     
    90

     
    1,123

     
    1,213

     Other expenses, net
     
    —

     
    —

     
    —

     
    (9
    )
     
    (9
    )
     
    (179
    )
     
    (188
    )
     Segment income or loss
     
    $
    127

     
    $
    6,572

     
    $
    56,353

     
    $
    61,113

     
    $
    124,165

     
    $
    (149,068
    )
     
    $
    (24,903
    )






    For the year ended December 31, 2015

     In thousands of U.S. dollars
    LR1/Panamax
     
     Handymax
     
    LR2
     
     MR
     
     Reportable segments subtotal
     
     Corporate and eliminations
     
     Total
     Vessel revenue
    $
    36,679

     
    $
    142,429

     
    $
    208,250

     
    $
    368,203

     
    $
    755,561

     
    $
    150

     
    $
    755,711

     Vessel operating costs
    (2,144
    )
     
    (35,254
    )
     
    (36,682
    )
     
    (100,476
    )
     
    (174,556
    )
     
    —

     
    (174,556
    )
     Voyage expenses
    (1,186
    )
     
    (536
    )
     
    (194
    )
     
    (2,516
    )
     
    (4,432
    )
     
    —

     
    (4,432
    )
     Charterhire
    (21,616
    )
     
    (26,755
    )
     
    (27,816
    )
     
    (20,678
    )
     
    (96,865
    )
     
    —

     
    (96,865
    )
     Depreciation
    —

     
    (18,372
    )
     
    (29,125
    )
     
    (59,859
    )
     
    (107,356
    )
     
    —

     
    (107,356
    )
     General and administrative expenses
    (96
    )
     
    (1,390
    )
     
    (1,456
    )
     
    (4,329
    )
     
    (7,271
    )
     
    (58,560
    )
     
    (65,831
    )
     Gain / (loss) from sales of vessels
    2,019

     
    (2,054
    )
     
    —

     
    —

     
    (35
    )
     
    —

     
    (35
    )
     Write-off of vessel purchase options
    —

     
    —

     
    —

     
    (731
    )
     
    (731
    )
     
    —

     
    (731
    )
     Gain on sale of Dorian shares
    —

     
    —

     
    —

     
    —

     
    —

     
    1,179

     
    1,179

     Financial expenses
    —

     
    —

     
    —

     
    —

     
    —

     
    (89,596
    )
     
    (89,596
    )
     Realized gain on derivative financial instruments
    —

     
    —

     
    —

     
    —

     
    —

     
    55

     
    55

     Unrealized loss on derivative financial instruments
    —

     
    —

     
    (1,255
    )
     
    —

     
    (1,255
    )
     
    —

     
    (1,255
    )
     Financial income
    —

     
    7

     
    12

     
    27

     
    46

     
    99

     
    145

     Other expenses, net
    1,397

     
    —

     
    —

     
    (20
    )
     
    1,377

     
    (61
    )
     
    1,316

     Segment income or loss
    $
    15,053

     
    $
    58,075

     
    $
    111,734

     
    $
    179,621

     
    $
    364,483

     
    $
    (146,734
    )
     
    $
    217,749






     







    Revenue from customers representing greater than 10% of total revenue during the years ended December 31, 2017, 2016 and 2015, within their respective segments was as follows:
     
    In thousands of U.S. dollars
     
     
     
    For the year ended December 31,
     Segment
     
     Customer
     
    2017
     
    2016
     
    2015
     MR
     
    Scorpio MR Pool Limited (1)
     
    $
    217,141

     
    $
    248,974

     
    $
    315,925

     LR2
     
    Scorpio LR2 Pool Limited (1)
     
    136,514

     
    156,503

     
    208,132

     Handymax
     
    Scorpio Handymax Tanker Pool Limited (1)
     
    78,510

     
    73,683

     
    138,736

     Panamax
     
    Scorpio Panamax Tanker Pool Limited (1)
     
    1,515

     
    5,843

     
    34,613

     
     
     
     
    $
    433,680

     
    $
    485,003

     
    $
    697,406


    (1)
    These customers are related parties as described in Note 17.