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March 28, 2019
Published by Kuppy at March 28, 2019
Reader: …But Kuppy, won’t they build more boats and crush rates? Me: With what money? Shipping is a highly cyclical industry. A boat lasts for two decades but earns most of its money over a handful of quarters—where it often earns truly extraordinary profits. Unfortunately, these earnings incentivize over-ordering and a subsequent glut of vessels for years into the future; destroying charter rates
Read MorePositions Mentioned: STNG
January 13, 2019
Published by Kuppy at January 13, 2019
Increased government regulation is a fact of life—particularly in the shipping sector. As a shipping investor, this tends to be good news; as disruption usually upsets existing trade patterns and leads to an increase in charter rates. I learned the benefit of this nearly two decades ago, when single-hull crude carriers were phased out following the Exxon Valdez accident. The resulting shortage of new
Read MorePositions Mentioned: STNG
