TRMD - Why It Is Time To Invest In Product Tankers

• The product tanker sector has been very weak for the last year and a half, but green shoots have started to emerge.
• The orderbook sits at historically low levels, and scrapping has picked up nicely over the past few months. Significant gains in ton-mile demand are forecasted for both 2022 and 2023.
• The demand side is more uncertain, but refinery dislocations are benefitting market balances, whereas ripple effects from the war in Ukraine could potentially further tighten the market.
• Torm (TRMD) offers the most attractive risk-reward, but Scorpio Tankers (STNG) and Ardmore Shipping (ASC) have the highest potential upside if the market continue strengthening.

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