Sure rates went down a tad bit today, and barely measureable yesterday. Where was all the news reports when tanker rates were climbing the past week?
No news when its going up like gang busters and when it pulls back just a tad its huge news.
But this slight pullback is understandable in light of recent gains were significant.
13 Knot VLCC's were actually profitable for a week or more. Even with the pullback are still going for $19,664
which is at the break even level for FRO.
The action this morning on FRO, GNK, EXM, DRYS, etc, was fun to watch.
After hours GNK, EXM, DRYS were all up.
Why didn't you post good news "when its going up like gang busters"?
oil is evil . . .
What happened to that IGNORE button.......