Shares of New York-listed Scorpio Tankers have risen more than 27% from a historic low earlier this month since analysts from two banks suggested it might have a path to avoid a crushing reckoning.
The movement from $1.88 to above $2.39 earlier this week — product tanker peer Ardmore Shipping is up about 7% in the same stretch — comes as market observers struggle to sort the details of the $349m in convertible bonds outstanding on Scorpio Tankers’ 2014 issue.
