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INSW - How COVID-19 Is Influencing Shipping's Long-Term Outlook
International Seaways Inc.
Note: This report was published July 17, 2020, on Value Investor's Edge.
Overview
During 2009-2018, shipping was defined by a massive bear market which saw fleeting bull runs.
But shipping is highly cyclical. This cyclicality hit a tipping point in 2018, when we began ushering in a new dynamic. One with bullish overall market fundamentals which would likely serve as the backdrop for brief bear dips over the course of the coming years.
Well, the COVID-19 economic fallout is that bear market dip, only it's a pretty sizable one and likely won't be as brief.