$Torm(TRMD.US)$i agree with most of what Bullrider has said, except this long hauling around bothe the southern horns of Africa, AND South America ( because of the severe drought there, the Panema Canal is drying up to dangerously low levels, and now has a que of over 100 ships moored just off the canal waiting to be called in to go through. That number is usually around 10). The drought is so severe. however, that the usual set of lakes, rivers and streams that they draw from was reported ly ...
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bullrider_21 :
Panama is experiencing a drought now.
$Torm(TRMD.US)$$Ardmore Shipping(ASC.US)$$Scorpio Tankers(STNG.US)$ Freight fallout began with container ships. It is now significantly impacting product tankers - the vessels that transport gasoline, diesel, jet fuel, naphtha and other petroleum products. Larger product tankers that do long-haul runs are diverting around Africa in increasing numbers. We are now definitively seeing upward pressure on both mid-sized crude tanker and ...
Traders say the economic incentive to import oil from the U.S. Gulf Coast to Asia has closed, as the cost of booking supertankers on the route has surged, Reuters reported Wednesday. The freight rally has raised the premium for West Texas crude from the U.S. to more than $4/bbl against Dubai quotes on a cost-and-freight basis for April delivery from ~$2/bbl last week, traders said, reportedly pushing WTI to a premium of $1/bbl mo...
$Torm(TRMD.US)$ TORM has been awaesome for me the yield is incredible and they are a solid business with a nicely building book of beiness. They just took deliver of 2 more ships adding to their already sizeable fleet stock has had a nice consistent trend upward and has what apppears to coming around to get read...
bullrider_21 : Panama is experiencing a drought now.