Summary
Arquitos Capital interviews tanker expert, Calvin Froedge.
We discuss what the markets are missing, the effect of contango, Calvin’s thoughts on IMO 2020, and which stocks Calvin likes right now.
Calvin also shares the resources he uses to follow the industry.
Earlier this year, I purchased a basket of tanker stocks to take advantage of both structural and cyclical opportunities in the space. I follow a variety of sources and thinkers in the industry, and want to share some of their thoughts with readers.
The first interview in this “Opportunities In Tankers” series is with Calvin Froedge. Calvin writes extensively about tankers and generously shares his thoughts with his followers. You can follow him on Twitter @calvinfroedge and on Medium under the same handle.
SK: Thank you for taking the time, Calvin. What is your favorite position right now?
CF: My favorite position is Euronav (EURN). I think this is the safest “right or wrong” bet on the cycle due to valuation, fleet age, and management quality. Using even the most pessimistic forecasts possible (rates below break-even for two years) it’s extremely tough to value them at less than $10 per share.
