In the COVID era, tanker markets change more quickly and the past is not necessarily prologue. What matters in quarterly reports is what executives say about the present and future, far more than what they say about the latest quarter.
Two of the world’s largest public tanker owners — Euronav (NYSE: EURN) and Scorpio Tankers (NYSE: STNG) — reported results on Thursday. Two key takeaways emerged from the conference calls.
First, floating storage is coming down from its peak, faster for refined...
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