VLCC rates heading back up

by | Apr 23, 2020 | General | 0 comments

Yesterday, CNBC learned about the oil tanker thesis. While the analyst was bullish, he talked about the rates coming down over the months. While, I also see rates coming down, they are likely to go up first as evidenced by today’s $300k print. Also, they are likely to stay elevated as long as production is higher than demand as the CEO of Euronav pointed out. I bet rates go to $400k or $500k before then start coming back down. No one is expecting this.

https://classicvalueinvestors.com/2020/04/23/cnbc-on-oil-tankers/
https://classicvalueinvestors.com/2020/04/23/euronav-ceo-tanker-demand-will-increase-as-covid-19-pandemic-continues-oil-prices-remain-low/

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About Mariusz Skonieczny

Mariusz Skonieczny is the founder of Classic Value Investors.