Barry Parker Commentaries
Jul 20, 2015
Click here to access Dinner chatter and getting fatter, with the tanker boys
Tanker hires continue to soar- with the marquee number- the time charter equivalent on the Baltic Exchange’s “TD3” (VLCC, AG to Japan) reaching nearly $94,000/day. This huge bull run is a nice benefit of OPEC’s geopolitical gambit of pumping more oil. Oil prices have plunged, again, in the past few weeks, as barrels from what the International Energy Agency described as “…massively oversupplied…” found their way past the manifolds and into the bellies of big oil tankers.