Breakwave Tanker Shipping ETF (BWET)

Strait of Hormuz traffic has doubled overnight to 70 vessels on June 24 - 43 sailing west-to-east & 27 east-to-west $USO $XLE $DBC $DBA $BWET

Energy tearsheet: US EIA Crude Oil Stocks (Jun/19) -6.088M vs estof -4.89M (prev -8.262M) US EIA Gasoline Stocks (Jun/19) 2.064M vest of -1.9M (prev -0.906M) US EIA Distillate Stocks (Jun/19) 3.064M vs est of -0.3M (prev 0.951M) US EIA Cushing Crude Oil Stocks (Jun/19) -1.077M (prev -1.606M) All stocks well below their 5-yr avg & below their 5-yr range SPR levels below Biden Admin - lowest level since 1983 60 days Iran negoiation deadline: Aug 21 & when the license expires 128 days to the US mid-term elections $USO $XLE $XOP $BWET $UGA

$USO $XLE $BWET $LNG $XOM Ok.. so how that drama is going to affect $LNG or other US exporting co not tight to the Persian Gulf... With almost 100% of exports contracted on 20 yrs or better?

$BWET 🐂📣📣🐮

$BWET $LNG $USO $XLE $XOM

$BWET $LNG $USO $XLE $XOM so why the fuck are we going down ?

$BWET $PSHG $STNG $TNK SEC = a joke

$PSHG $BWET $STNG $TNK Fraudulent company on Nasdaq. Will SEC do something about PSHG? Fake lawsuits in between Greek shipping industry families. Court cases that do not proceed at all. Very disappointing for shareholders prices of rental deals of tankers. Signing long-term contracts to the detriment of the company.

Crude tanker round trips from the Strait of Hormuz typically take 38 to 45 days for Asian destinations & 60 to 70 days for European voyages via the Cape of Good Hope. A massive fleet of 250 tankers & 440 cargo ships (690 vessels total) remains stranded inside the Gulf. Over 80% of these tankers are anchored stationary, w/ only 10 ships moving west so far. Many of the tankers that have transited the strait in recent days have been linked w/ Iran following the lifting of the US naval blockade More than 250 tankers & 440 cargo ships are still inside the Gulf - more than 80% of the tankers are stationary or at anchor This gradual pace actually helps prevent sudden congestion at both the Strait & Asian ports but re-entry congestion into the Gulf for returning tankers will be an issue in teh short-term US Treasury has also eased decades-old sanctions by issuing a license to allow the sale of Iranian crude oil, petrochemicals and other oil products until 21 August. PGSA: "No vessel is permitted to pass through the Strait of Hormuz without a valid passage permit issued by the PGSA" Joint Maritime Information Center (JMIC), a multinational maritime group which includes the US, has warned ships to avoid this central part of the strait "due to the existence of mines" & "active mine clearance operations are ongoing" $USO $XLE $BWET $LNG $XOM

President Trump says there will be no further US naval blockade of the Strait of Hormuz, insists Iran has agreed to allow nuclear inspections despite statements from Iranian officials that it ⁠has not done so Oman & Iran have said that all arrangements related to the Strait of Hormuz must fully respect their sovereign rights Vessel crossing: 3 on June 21, 16 on June 22, & 14 on June 23 Israeli troops open fire in the Lebanese town of Nabatieh al-Fawqa – killing 2 people & wounding others Lebanese Health Ministry says the number of people killed during Israel’s months-long invasion has risen to 4,192 (+17 new deaths over the past 24 hours) & at least 12,171 wounded The 5th round of talks b/n Lebanon & Israel has started at the State Dept in Washington, DC Israeli PM Netanyahu said that troops have “full freedom of action” to thwart any Hezbollah direct or emerging threat against invading soldiers or Israeli citizens in the north. He added Israeli forces will remain occupying southern Lebanon for “as long as is necessary” Iran’s ambassador to the UN: “Lebanon is an unquestionable part of the agreement, and whatever happens in Lebanon affects the whole process, and it ⁠is the United States which should use all its leverage against Israel to make it to stop attacks against Lebanon' Far-right Israeli National Security Minister Itamar Ben-Gvir says Israel is capable of defying President Trump if it needs to as he insists the ceasefire in Lebanon is unacceptable. On Lebanon, he said there should be “no ceasefire” – “under no circumstances” $XLE $BWET $SHLD $LNG $XOM

$SPY $DIA $QQQ $USO $BWET yeah it else there would be bombed

Iran Cites 'Major Progress' After All-Night Talks With US $SPY $DIA $QQQ $USO $BWET https://finance.yahoo.com/energy/articles/iran-cites-major-progress-after-all-night-talks-with-us-082928885.html

Iran closes Strait of Hormuz over ceasefire violations - MEHR $USO $SPY $DIA $BWET $QQQ https://apple.news/AsNcLKas6TvCu9X6mb3djlg

Post-MoU crossings = 21 commercial crossings over the past 24 hours — 13 eastbound & 8 westbound IRGC reportedly warned vessels against passage, citing Israel's refusal to withdraw from Lebanon amid ongoing strikes there But Iran's Foreign Ministry insists shipping continues safely under the new US-Iran MOU, and Tehran's Persian Gulf Strait Authority announced a 60-day transit fee waiver $BWET $USO $LNG $VG $XLE

$BWET $BOAT $MACRO $UAE $QAT >Strait of Hormuz Tanker Vessel Crossing

14-point draft memorandum as seen by Bloomberg News 1. The Islamic Republic of Iran and the United States, together with their allies in the current war, declare upon the signing of this Memorandum of Understanding an immediate and permanent end to the war on all fronts, including Lebanon, and undertake that from now on they will not launch any hostile action against each other, and will refrain from the threat or use of force against each other. The final agreement will confirm the provisions of this Article and the remaining Articles. 2. The Islamic Republic of Iran and the United States undertake to respect each other’s sovereignty and territorial integrity, and to refrain from interfering in each other’s internal affairs. 3. The Islamic Republic of Iran and the United States undertake to negotiate and reach a final agreement within a maximum period of 60 days, extendable by mutual consent. 4. Immediately upon the signing of this Memorandum of Understanding, the United States Lift the naval blockade and prevent any interference or obstruction against the Islamic Republic of Iran, and restore traffic within a maximum of 30 days to its full capacity; the traffic of ships shall be proportional to the pre-war volume of traffic on the part of the Islamic Republic of Iran. The United States also undertakes to withdraw its forces from the surrounding areas within 30 days after the final agreement. 5. Upon signing this Memorandum of Understanding, the Islamic Republic of Iran will immediately take steps to ensure that the movement of merchant ships from the Persian Gulf to the Sea of ​​Oman and vice versa is resumed within 30 days to the pre-war volume, taking into account the need for the removal of technical obstacles and the neutralization of mines by Iran. 6. The United States undertakes, together with its regional partners, to create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of the Islamic Republic of Iran, While ensuring financing of at least $300 billion. The implementation mechanism of this plan, as part of the final agreement, will be formulated within 60 days. 7. The United States commits to ending, on a schedule to be agreed upon as part of the final agreement, all types of sanctions currently facing the Islamic Republic of Iran, including resolutions of the United Nations Security Council and the Board of Governors of the International Atomic Energy Agency (IAEA), and all unilateral U.S. sanctions, both primary and secondary. 8. The Islamic Republic of Iran reiterates that it will never produce nuclear weapons. The Islamic Republic of Iran and the United States have agreed that the fate of enriched material and the fate of all other mutually agreed nuclear-related issues, including Iran’s nuclear needs, will be adequately addressed in a final agreement; the final agreement will confirm the provisions of this Article. 9. The Islamic Republic of Iran and the United States agree that, pending a final agreement, they will maintain the status quo: Iran will maintain the status quo on its nuclear program, and the United States will not impose new sanctions on Iran or strengthen its forces in the region. 10. The United States undertakes that immediately after the signing of this Memorandum of Understanding, and until the date of the lifting of sanctions, the United States Treasury Department will issue waivers for exports of Iranian crude oil, petrochemical products and their derivatives, and all related services, including banking, insurance, transportation, and the like. 11. The United States undertakes that, in light of the progress of negotiations towards a final agreement, frozen or restricted funds and assets of the Islamic Republic of Iran will be released and made fully available. These funds, whether held in the master account or transferred, will be used for any final beneficiary payment determined by the Central Bank of the Islamic Republic of Iran and will be fully available for use. The United States undertakes to issue all necessary permits and licenses on this basis. 12. The Islamic Republic of Iran and the United States agree that an implementation mechanism will be established to oversee the successful implementation of and future commitment to the Final Agreement. 13. Following the signing of this Memorandum of Understanding, and upon receipt of assurances regarding the commencement of implementation of Articles 4, 5, 10, and 11 of this Memorandum of Understanding, and the continued implementation of these steps, the Islamic Republic of Iran and the United States will enter into negotiations for a Final Agreement solely with respect to the remaining Articles. 14. The final agreement will be approved through a binding resolution of the UN Security Council. $USO $UGA $UNG $XLE $BWET

Your moment of zen.... Trump admin officials are discussing ideas to kick-start oil tanker traffic through the Strait of Hormuz, including offering a fee-based “VIP pass” naval escort through the waterway Despite the MoU b/n the US & Iran, traffic remains largely stalled b/c ship owners remain wary of the fragile peace falling apart One idea being taken more seriously is using the Defense Production Act to require US-based insurance companies to provide coverage for vessels sailing through Hormuz The Trump admin in March started offering $20B in “political insurance” to ship owners who might attempt the Hormuz commute. The plan found no takers, as owners did not want to risk physical property or crew - an insurance payout cannot instantly replace a destroyed multi-million-dollar hull or fix long-term operational disruption & financial compensation does nothing to protect the lives of merchant mariners Note: a fee is not a toll - fee has 3 letters & toll has 4 $XLE $BWET $USO $UNG $OIH

President Trump said he would send the deal to end the war w/ Iran & open nuclear discussions w/ Tehran to Congress for approval Note: In 2015, Congress passed the Iran Nuclear Agreement Review Act to allow lawmakers to weigh in on the Obama admin’s nuclear deal w/ Iran, which President Trump pulled out of in 2018. The deal w/ Tehran would have to be sent over to Congress within 5 days of being reached, according to the Iran Nuclear Agreement Review Act. Then Congress has 30 days to vote on a resolution not to approve the agreement Attached: Talking points sent to MAGA/Republicans operatives to disseminate $XLE $USO $BWET $SPY

$XOM to relet 174K cbm LNG carriers to commodity trading giant Trafigura on 2-year charters starting 4Q26 With Qatar’s Ras Laffan Train S4 & Train S6 facing a lengthy 2-3-yr repair timeline, Exxon finds itself heavily overcapacity on shipping tonnage. Reletting these state-of-the-art newbuilds allows Exxon to pivot from cargo losses to locking in steady charter revs Trafigura recently signed a 5-yr, 0.5 MTPA supply deal w/ $VG starting in 4Q26. To maximize profits on volatile spot spreads b/n the US, Europe, & Asia, they cannot rely on expensive spot freight or last-minute borrowed tonnage Commodity trading houses start acting like shipping companies - giants like Trafigura are rapidly building & leasing physical fleets to secure mid-term shipping cover. They want to control the entire arbitrage chain directly from the US wellhead to the global regasification terminals $LNG $BWET

Iran & US have reached an agreement to end more than 100 days of war, setting the stage for detailed negotiations on the Iranian nuclear programme & sanctions relief President Trump says “the deal’s all signed” w/ the Strait of Hormuz partially cleared as the waterway is set to reopen “completely” by Friday when the agreement is signed in Switzerland US Military: US blockade of Iranian ports will not end until the agreement between Tehran and Washington is signed Israeli PM Netanyahu is expected to give a video statement at 8pm. Netanyahu, along w/ most Israeli officials, are unhappy w/ the emerging agreement but is unlikely to publicly confront President Trump over the deal but could yet seek to sabotage it On Sunday, Axios reported that President Trump criticised PM Netanyahu, using his nickname when he told it : “Why did Bibi have to do a fucking attack? I was so pissed off. I let him know. He has no fucking judgement. I let him know that" Note: The Nov 2024 ceasefire agreement b/n Lebanon & Israel didn’t result in Israel stopping its attacks, or fully withdrawing its troops from Lebanese territory. Hostilities didn’t stop after the April 16 ceasefire either Israeli soldiers have demolished Palestinian homes, a water well, and 2 agricultural barracks in Yatta, south of Hebron, in the occupied West Bank. An Israeli drone struck a car at the Kafr Tebnit roundabout in Sour in southern Lebanon, killing 1 person. A journalist was also injured by a grenade dropped from a drone in Kafr Tebnit. 5 people have been killed & 82 injured in Israeli attacks in the past 24 hours Israel’s attacks on Lebanon have killed 3,798 people & injured 11,781 others since March 2 Iran’s Foreign Minister Abbas Araghchi: More negotiations are expected to follow between Washington & Tehran following Friday’s signing ceremony in Switzerland. “We plan the process of negotiations & implementation of the agreement based on distrust, breach of commitments, & past experiences" Hezbollah has congratulated Iran on the peace agreement, but also warned Israel “there will be no return to the pre-March 2 status quo”. Hezbollah remains committed to Lebanon’s “right to defend its land, its people, and its sovereignty until a complete withdrawal is achieved and the prisoners are returned” German chancellor says US-Iran deal must also apply to Lebanon UKMTO agency says it has received a report of a container vessel being approached by a small skiff 26km (14 nautical miles) south of the coast of Yemen. “The crew of the small skiff opened fire on the vessel and attempted to board" $USO $XLE $BWET $SHLD $ITA

$BWET is good but $TMDE moves up faster and has a higher short interest.

Day 104 Iran's PGSA says Strait of Hormuz will be closed until further notice US CENTCOM says The Strait of Hormuz remains open for transit & Iran does not control it CNN: President Trump grows furious that his strikes on Iran are not seen as powerful enough President Trump says the USwill be hitting Iran “very hard” tonight, adding that Washington will take over Iran’s Kharg ⁠island & ⁠other oil ⁠infrastructure points Iran’s Foreign Ministry has condemned the US strikes on the country, saying that it has rendered the ceasefire “practically meaningless” Iran's Commander of the Central Headquarters of the Holy Prophet warns that if America tries to carry out attacks against heroic Iran again, it will receive a more severe response than before Iran's Deputy for Communications & Information of the President's Office says "Threatening Iran means setting the Middle East ablaze & imposing damage on the global economy" Israeli authorities have deported a prominent French journalist, who has worked for years in Israel & the occupied Palestinian territories, after she was refused entry upon landing Committee to Protect Journalists: In 2025, Israeli forces killed at least 84 media workers and journalists – most of them Palestinians in Gaza Israel’s army claims to have gained “operational control” of the area north of Lebanon’s Wadi Saluki stream An Israeli attack near a hospital in Lebanon’s Tyre has killed one person and injured 17 others, including hospital staff $USO $XLE $UGA $XOP $BWET