YWR: Tuesday Money Maker
I’m buying some Frontline here. I can’t help myself.
Alert: This is my own view. Not financial advice! Always speak to a professional financial advisors before investing.
I know it’s moved already, but tanker rates are exploding.
Crude tanker rates in unchartered territory; VLCC index tops $420K
Baltic Exchange’s TD3C MEG-China index assessed at $423,736 per day on Monday; TD2 MEG-Singapore index at $257,986 per day
Global average VLCC index reaches $280,941 per day, highest level since at least 2008
MEG-Med suezmax index more than tripled over weekend to $267,579 per day; global average suezmax index rises 23% vs Friday, to $158,531 per day
The IRGC is desperate and trying to take the rest of the Persian Gulf down with it. The Straights of Hormuz are shut.
‘Over 200 tankers stuck inside the Persian Gulf,’ as war risk drops out and insurance rates double.
Source: Rivera
Already Tight Tanker Markets
The backdrop is that going into the Iran War tanker markets were already tight.
