New York-listed Scorpio has between $250m and $300m in additional firepower should it ally 60% debt financing with its own reserves, according to Jefferies’ Doug Mavrinac.

“We believe Scorpio will remain active in the newbuilding market in the months ahead,” he wrote in a report.

Scorpio yesterday took four extra LR2s at Hyundai Samho and turned to Daewoo Shipbuilding & Marine Engineering for the first time for a couple more.