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Tanker stocks are rallying, as WTI crude oil plunges again amid pressure from a huge glut: NAT +16.5% , TNP +11.2% , TK +8.9% , FRO +7.7% , ASC +7.3% , DHT +7.2% , TNK +7.1% , EURN +6.7% , DSSI +6.1% , STNG +4.8% . More news on: Nordic American Tankers Limited...
Note: I highlighted the 'Buy Crude Tankers' thesis in a fully public report on 13 March. I recommend reading that one for initial context. Image Credit: DHT Holdings, Q4-19 Presentation Background: COVID-19 Sparks Oil Oversupply Coronavirus (COVID-19) descended with a fury u...
Diamond S Shipping (NYSE: DSSI ) has filed a prospectus for a $500M mixed shelf offering. More news on: Diamond S Shipping Inc., , Read more ...
Supertanker freight rates have fallen after last week's highs as industry participants await the outcome of this week's OPEC+ meeting before making further bookings, Reuters reports. More news on: Frontline Ltd., Euronav NV, International Seaways, Inc., Energy stocks news, Read more...
Shipping Markets: Unique Opportunities vs. Volatility With COVID-19 shutting down the majority of the global economy, investing in shipping is not a natural instinct. However, as I've learned from over a decade of covering this sector, knee-jerk viewpoints are rarely correct. Moreso than ...
Oil tanker rates keep climbing, with benchmark Middle East-to-China rates rising another 2.8% overnight to WS 212.71, equating to daily earnings of $241K, according to Baltic Exchange data. More news on: Frontline Ltd., Euronav NV, International Seaways, Inc., Energy stocks news, Read ...
Supertanker freight rates are on the rise again as producers, refiners and traders scramble to secure ships for transport or storage amid an increasing global glut of oil. More news on: Euronav NV, Frontline Ltd., Nordic American Tankers Limited, Energy stocks news, Read more ...
Oil traders have chartered at least five supertankers in the past day with options to store oil at sea, as global stocks rise after the U.S. decided not to purchase oil for its emergency reserve, Reuters reports. More news on: Frontline Ltd., International Seaways, Inc., Nordic American ...
The oversupplied market may drive as much as 100M barrels of oil into floating storage "and probably more," International Seaways ( INSW +6.3% ) CEO Lois Zabrocky tells Bloomberg. More news on: International Seaways, Inc., Frontline Ltd., Nordic American Tankers Limited, Energy stoc...
Diamond S Shipping Inc. (NYSE: DSSI) (the “Company”) announced today that the Board of Directors of the Company has fixed the close of business on April 6, 2020 as the record date for the determination of the shareholders entitled to vote at the Company’s 2020 annual meet...
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International Seaways, Inc. (NYSE: INSW) (“INSW”) and Diamond S Shipping Inc. (NYSE: DSSI) (“Diamond S”) announced today that the required waiting period has expired under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) in c...
Diamond S Shipping Inc. (NYSE: DSSI) (“Diamond S”, or the “Company”), one of the largest publicly listed owners and operators of crude oil and product tankers, today announced results for the first quarter of 2021. Highlights for the First Quarter and R...
Creates Second Largest US-Listed Tanker Company by Vessel Count and Third Largest by Dwt with an Enterprise Value of Approximately $2 Billion Significant Synergies and Efficiencies to Drive Annual Cost Savings of over $23 Million and Revenue Synergies over $9 Million ...