Scorpio president Robert Bugbee tells TradeWinds he has lodged a complaint with Fearnley’s after seeing STNG’s shares fall by 4% in trading today on the New York Stock Exchange.

“We’ve been in contact with Fearnleys and notified them that their valuation is off by more than $200m,” Bugbee said in an interview this afternoon.

“Firstly, they made a modeling error of our balance sheet of about $200m.