Bugbee explains why Scorpio bought 4.9% stake in VLCC owner DHT
DHT share purchase is a passive investment driven by belief in VLCC fundamentals
The big news from Scorpio Tankers was not its own quarterly results, but the revelation that it bought a position in VLCC owner DHT. During the conference call, Scorpio Tankers president Robert Bugbee said that the purchase represents a limited, passive bet on VLCC earnings