Jun. 16 at 1:24 PM
$TRMD We believe that the downside risks to Iran's exports have become accentuated. In our view, the upside risk is bigger on #tanker rates compared to oil prices. A scenario of continued supply risks and a disruption to Iran exports, but not to overall Hormuz flows, would create a very strong tonnage demand backdrop. The supply risks will boost time premium for freight and accelerate bookings, while at the same time tonnage will be reluctant to enter war-zone. Higher Opec+ flows down the line would boost demand rise for "compliant" barrels and tonnage, compounding the above effect.”
