Many people thought that the tankers business would suffer, but it's the opposite that happened, because tankers not only deliver oil relatively to a global oil demand (that suffered for sure), but they also STORE. And this is not free.
Companies like Frontline were payed to store the global surplus:
seatrade-maritime.com/tankers/awful-energy-day…unless-you-are-tanker-owner
cnbc.com/2020/04/24/we-are-making-a-lot-of-money-at-this-time-nordic-american-tankers-ceo-says.html
On the other side, we have some encouraging data regarding the demand for tankers:
seatrade-maritime.com/tankers/tanker-market-surge-time-its-real-frontline-ceo
All of this explains the big surge in volatility and volume these last months, and ups and down that were about 40%!
Companies like Frontline were payed to store the global surplus:
seatrade-maritime.com/tankers/awful-energy-day…unless-you-are-tanker-owner
cnbc.com/2020/04/24/we-are-making-a-lot-of-money-at-this-time-nordic-american-tankers-ceo-says.html
On the other side, we have some encouraging data regarding the demand for tankers:
seatrade-maritime.com/tankers/tanker-market-surge-time-its-real-frontline-ceo
All of this explains the big surge in volatility and volume these last months, and ups and down that were about 40%!
Nota
No financial advice given hereNota
(talking about "surplus" in the context of COVID-19 oil demand crisis)*(19/05/2020)
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.