Oil Tanker Stocks To Watch As Shipping Rates Soar
Posted: Sun Jun 12, 2022 2:18 pm
https://oilprice.com/Energy/Crude-Oil/O ... -Soar.html
oilprice.com - Jun 06, 2022 - Main Points:
- The oil tanker business is booming as supply struggles to meet up with demand.
- Tanker rates have exploded to multi-year highs following an uptick in demand spurred by the U.S. ban on Russian oil.
- According to Hellenic Shipping News, petroleum tanker rates for routes originating in Europe climbed to record highs in April 2022.
Market experts certainly consider rising inflation and the Ukraine crisis as the two biggest market risks this year. Runaway inflation has been corroding asset values, limiting buying power and eating away at corporate margins, while Russia's invasion of Ukraine has disrupted key energy and commodity supply chains causing massive price spikes. Consequently, the Dow Jones Transportation Average has slumped 12% since the beginning of the year on fears of waning domestic demand. But the oil tanker business is proving to be a different beast.
oilprice.com - Jun 06, 2022 - Main Points:
- The oil tanker business is booming as supply struggles to meet up with demand.
- Tanker rates have exploded to multi-year highs following an uptick in demand spurred by the U.S. ban on Russian oil.
- According to Hellenic Shipping News, petroleum tanker rates for routes originating in Europe climbed to record highs in April 2022.
Market experts certainly consider rising inflation and the Ukraine crisis as the two biggest market risks this year. Runaway inflation has been corroding asset values, limiting buying power and eating away at corporate margins, while Russia's invasion of Ukraine has disrupted key energy and commodity supply chains causing massive price spikes. Consequently, the Dow Jones Transportation Average has slumped 12% since the beginning of the year on fears of waning domestic demand. But the oil tanker business is proving to be a different beast.