Earnings Season: Big Tankers Rake In Big Bucks
By Barry Parker (gCaptain) – The listed companies running the big fleet of tankers have now reported earnings for 2022’s Q4. As last year ended, the market had seen a huge run-up. Though spot TCE’s for VLCCs and Suezmaxes eased somewhat around ea…
By Barry Parker (gCaptain) – The listed companies running the big fleet of tankers have now reported earnings for 2022’s Q4. As last year ended, the market had seen a huge run-up. Though spot TCE’s for VLCCs and Suezmaxes eased somewhat around early December as the price caps on Russian crude were kicking in, the quarterly results were still off-the-charts good. The results were so good that market stalwart International Seaways (NYSE: INSW) hit new highs in trading following its “earnings beat” announcement $218.4 million net income (working back to $4.40 per share, assuming full dilutions). Its share price reached...