Christopher Avella

Chief Financial Officer, Scorpio Tankers Inc.

Search every verified Christopher Avella interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Christopher Avella, Chief Financial Officer of Scorpio Tankers, participated in an investor webcast on May 10, 2024, where he discussed the company's first-quarter results and recent financial actions. He reported adjusted earnings before interest, taxes, depreciation, and amortization of $293 million, adjusted net income of approximately $207 million, and diluted earnings per share of around $4. Avella noted strong product tanker rates, citing booked rates for the second quarter of 2024, including close to $52,000 per day for LR2 vessels, $38,000 for MR vessels, and $22,500 for Handymax vessels, and highlighted that three-year time charter rates for LR2 and MR vessels were approximately $44,000 and $28,000 per day, respectively. Avella also addressed the company's deleveraging efforts, stating that Scorpio Tankers had reached its net debt targets, with gross outstanding debt reduced from $3.2 billion at the end of 2021 to $1.4 billion as of the webcast date. He mentioned that the company was in discussions with lenders on its $1 billion credit facility to make a prepayment of up to $223 million on the term portion, representing up to two years of loan amortization, subject to lender approval and definitive documentation.