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Achieved record quarterly profit driven by a long-term strategy of increasing VLCC exposure and voyage days during the post-COVID period.
Market strength is driven by extreme trade inefficiencies, including a 23% increase in idling days per VLCC, which have emerged despite an 82% reduction in crude oil exports from the Strait of Hormuz.
Observed a significant shift in trade patterns, with Atlantic Basin exports taking longer routes and Middle East exports increasingly relying on multi-stage ship-to-ship (STS) transfers.
Global oil supply is currently being sustained by aggressive inventory draws in the US, China, and OECD nations, which management views as a temporary cushion.
#days
Achieved record quarterly profit driven by a long-term strategy of increasing VLCC exposure and voyage days during the post-COVID period.
Market strength is driven by extreme trade inefficiencies, including a 23% increase in idling days per VLCC, which have emerged despite an 82% reduction in crude oil exports from the Strait of Hormuz.
Observed a significant shift in trade patterns, with Atlantic Basin exports taking longer routes and Middle East exports increasingly relying on multi-stage ship-to-ship (STS) transfers.
Global oil supply is currently being sustained by aggressive inventory draws in the US, China, and OECD nations, which management views as a temporary cushion.
#days
3 months ago
