Scorpio Tankers executives today set out how the spot market should pull away from its present “nowhere land” in the “dark days of summer” and move towards the promised land of IMO 2020.

The New York-listed shipowner also revealed it has no plans to avoid the Strait of Hormuz, following the seizure of the 50,000-dwt Stena Impero (built 2018).

Emanuele Lauro, chief executive of Scorpio Tankers, said: “After a slower second and third quarter, due to refinery turnarounds, the market is...