Mar. 8 at 11:23 PM
$TNK What’s different this time?
Takeovers, Deals, M&A about to start…Why?
Sinokor has completely changed the tanker market. By them buying a huge position in VLCC tankers the rates are in the stratosphere and now beyond all previous forecasts. That causes Aframx & Suezmax to follow. Note
$100K per day in these mid size tankers.
NAV’s for Afra & Suez are now over
$108K per ship.
Fleet growth is not keeping up with the scrapping of aging ships. Thus….rates will remain higher longer.
Now is the time with companies (
$TK and
$TNK )trading at huge discount to FCF & NAV that you should see M&A.
TeeKay has no debt, a billion in cash, 35 ships and huge FCF. Oh yea, and no ships in the Hormuz Straight.
Booya!!!
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