Ed Finley–Richardson
@ed_fin
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inquiries: 2con.tangotwitter@gmail.com
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♦ 2009 Hyundai built Capesize sold for ~$36m
For comparison, in June 2026 a 2009 STX built Capesize sold for $30.75m
How to incinerate shareholder value + your reputation $TNK
80% of dry bulk vessel owners own 5 vessels or less 😳
Related: Is 92.8% EBITDA margin ok?
Is $579,900/day a lot?
Is $579,900/day a lot?
♦️ 2012 Suezmax sold for $112M
Me:
It takes a special kind of skill to, against all odds and after years of legal hardship, restart an oil asset in California.
Then, at $100 WTI, still zero the company.
While putting $50 million+ into your pocket.
Truly a skill that could only be found in the upstream sector.
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Lol, so much for that talking point. 💀
“China’s seaborne crude imports rebounded to 9.14m bpd in October, their highest level since the US-Iran war broke out, although still below the pre-war average of ~11.5m bbd in Jan-Feb.”
• Kpler
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*RUBIO:TALKS NOT PRODUCTIVE, IRANIAN DEMANDS SIMPLY UNACCEPTABLE
What do you guys think?
(Not joking)
Aframax owners, rejoice. 🇻🇪 🇺🇸
♦ Infamous OFAC-sanctioned dark fleet VLCC “BELLA 1” (built in 2002, IMO # 9230880) has arrived at a Bangladeshi scrapyard. She was seized by the US and sold at a huge discount, $9.1m for 44,411 LDT i.e. $205/LDT.
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Pondering time horizons
Glad we cleared that up.
IRAN REFUSES TO REOPEN STRAIT OF HORMUZ
Ending the Iran war is reportedly the main focus of Rezaei-Putin talks, according to Al Mayadeen.
Iran insists the Strait of Hormuz will remain closed until its seven conditions are met, ruling out negotiations over that decision.
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You want to be light on tanker exposure on the possible eve of an attack on Iran?
♦ 2009 built LR2 sold for $65M
“VLCC rates have reached unprecedented levels and are now at $1.3 million per day (43 times the January number). This is equivalent to almost $33/barrel, or 27% of the delivered cost of crude oil.”
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