Tanker Rates Hit Records as Hormuz Uncertainty Persists

CommodityGeopoliticsEarnings Impact 4
โดย 24/7 Wall St.·GLOBAL·Read original
Summary · why it matters

Crude tanker rates have hit record highs as the Strait of Hormuz remains in a state of permanent uncertainty, with Teekay Tankers and DHT Holdings posting massive year-to-date gains while deliberately avoiding the strait. Teekay Tankers reported Q2 EPS of $6.47 on $379.51 million in revenue, a 62.97% year-over-year jump, with Suezmax spot rates reaching $109,200 per day and Aframax/LR2 at $74,100 per day. The company has booked only 44% of Q3 spot days, leaving significant exposure to the unresolved situation, while DHT Holdings, whose VLCC fleet posted Q2 spot earnings of $162,600 per day, has booked 58% of Q3 spot days at $152,700 per day. The White House claims 17 million barrels flow through Hormuz daily, but independent trackers count only 4.9 million, a discrepancy that remains unverified. Teekay Tankers' CEO Kenneth Hvid noted that the number of unsafe ports is higher than ever, and DHT's CEO Svein Moxnes Harfjeld admitted he does not know when normal operations will resume.

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