"Refinery rationalization is back on the agenda. With a prolonged weakness in refinery margins due to Covid-19 related demand destruction and an uncertain future..."
"...for hydrocarbon consumption, many refiners have decided to throw in the towel, choosing to either sell, close, or convert their refining assets. The impact is not just in Europe, but global. Aging capacity in the United States, Asia and Australia is also under threat."
Jun 24, 2020 • 13 tweets • 3 min read
I'd like to share some thoughts about #tankers $EURN $STNG $FRO $DHT $TNK $INSW $ASC $TRMD $OET & the market in general.
It's counter-productive at best & delusional at worst to guide your investment decisions (I'm not talking about short-term trading) based on the market 1/n
whose inefficiency you seek to exploit.
Either you see a market inefficiency and move to exploit it or the market is pricing the asset efficiently and thus you move on (or accept market results).
From a short-term trading perspective things are different. You seek to 2/n
