spal4000
Oct 2, 5:19 PM
$HAFN The surge is driven by physical logistics, not paper crude. Choke-point disruptions and route diversions create an explosive tonne-mile multiplier, requiring far more ship capacity to transport identical volumes.
Crucially, supply cannot respond. With shipyards booked through late 2027 and an aging global fleet, new vessel capacity remains structurally capped. Meanwhile, refined fuel mismatches guarantee high clean-product tanker demand.
Operators are locking in multi-year charters at multi-decade high rates cementing massive dividend floors.
Headline ceasefire rumors may cause short-term pullbacks, but the structural shortage of ship hulls ensures the rally shifts from speculative momentum into an enduring, cash-flow-backed cycle.
$NAT $TRMD
0 replies