Bloomberg: Scorpio Seen Rising as Tanker Rates Gain Most Since ’08

“Rising Asian demand for naphtha and a shortage of ships hauling the oil product used in everything from Barbie dolls to car parts will boost freight rates to a four-year high and return Scorpio Tankers (STNG) Inc. to profit.  European ports loaded 1.35 million metric tons in November, the most since January 2010, according to data compiled by Bloomberg from shipbrokers’ reports.  . .  . The number of vessels hauling naphtha to Asia in October was almost 40 percent higher than in July, according to Poten & Partners Inc., a New York-based shipbroker and consultant.  Japan’s industrial output gained 1.8 percent in October, the most since December 2011, government data show. China said Dec. 1 its official manufacturing index reached a seven-month high.”