Torm moves into Gulf of Oman shuttle tanker business on ‘case-by-case’ basis, CEO says
Published . Updated .
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Danish owner explains how new shipping model is being approached in the Middle East
Directly affected
- No company is named in this report.
Indirectly affected
- BWET Breakwave Tanker Shipping ETF
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “tanker” (tanker shipping) in this story.
- VGK Vanguard FTSE Europe ETF
Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“danish”).
- FRO Frontline
Frontline (deep sea foreign transportation of freight, with business in Europe): tanker owners earn more when more crude has to move by sea. Linked by “tanker” (tanker shipping) in this story.
- DHT DHT Holdings
DHT Holdings (deep sea foreign transportation of freight): tanker owners earn more when more crude has to move by sea. Linked by “tanker” (tanker shipping) in this story.
- INSW International Seaways
International Seaways (water transportation): tanker owners earn more when more crude has to move by sea. Linked by “tanker” (tanker shipping) in this story.
- TNK Teekay Tankers
Teekay Tankers (water transportation): tanker owners earn more when more crude has to move by sea. Linked by “tanker” (tanker shipping) in this story.
- ZIM ZIM Integrated Shipping Services
ZIM Integrated Shipping Services (deep sea foreign transportation of freight): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping” (container shipping) in this story.
- MATX Matson
Matson (water transportation): shipping lines' rates jump when routes or ports are disrupted. Linked by “shipping” (container shipping) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| BWET | +7.18% | +11.56% | base | -15.67% | -19.70% | — | after close |
| VGK | -0.30% | -0.05% | base | +3.04% | +0.91% | -0.33% | after close |
| FRO | +5.87% | +8.47% | base | -8.33% | -13.79% | -13.08% | after close |
| DHT | +2.17% | +4.51% | base | -7.92% | -13.10% | -13.14% | after close |
| INSW | +6.60% | +6.75% | base | -5.00% | -8.71% | -6.51% | after close |
| TNK | +3.93% | +5.50% | base | -7.10% | -13.24% | -10.11% | after close |
| ZIM | +1.16% | -3.19% | base | -2.73% | -6.34% | -4.48% | after close |
| MATX | +2.94% | +0.86% | base | -5.10% | -3.78% | -4.30% | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Torm moves into Gulf of Oman shuttle tanker business on ‘case-by-case’ basis, CEO says TradeWinds News
Source: TradeWinds News
Gulf of Oman
| Company | When | Move | Status |
|---|---|---|---|
| BWET | that day | -15.67% | final price |
| BWET | the next day | -19.70% | final price |
| BWET | three days earlier | +11.56% | final price |
| BWET | five days earlier | +7.18% | final price |
| DHT | that day | -7.92% | final price |
| DHT | the next day | -13.10% | final price |
| DHT | two days later | -13.14% | final price |
| DHT | three days earlier | +4.51% | final price |
| DHT | five days earlier | +2.17% | final price |
| FRO | that day | -8.33% | final price |
| FRO | the next day | -13.79% | final price |
| FRO | two days later | -13.08% | final price |
| FRO | three days earlier | +8.47% | final price |
| FRO | five days earlier | +5.87% | final price |
| INSW | that day | -5.00% | final price |
| INSW | the next day | -8.71% | final price |
| INSW | two days later | -6.51% | final price |
| INSW | three days earlier | +6.75% | final price |
| INSW | five days earlier | +6.60% | final price |
| MATX | that day | -5.10% | final price |
| MATX | the next day | -3.78% | final price |
| MATX | two days later | -4.30% | final price |
| MATX | three days earlier | +0.86% | final price |
| MATX | five days earlier | +2.94% | final price |
| TNK | that day | -7.10% | final price |
| TNK | the next day | -13.24% | final price |
| TNK | two days later | -10.11% | final price |
| TNK | three days earlier | +5.50% | final price |
| TNK | five days earlier | +3.93% | final price |
| VGK | that day | +3.04% | final price |
| VGK | the next day | +0.91% | final price |
| VGK | two days later | -0.33% | final price |
| VGK | three days earlier | -0.05% | final price |
| VGK | five days earlier | -0.30% | final price |
| ZIM | that day | -2.73% | final price |
| ZIM | the next day | -6.34% | final price |
| ZIM | two days later | -4.48% | final price |
| ZIM | three days earlier | -3.19% | final price |
| ZIM | five days earlier | +1.16% | final price |
Gulf of Oman, seven days against thirty
Geopolitics Alpha has 5 stories about Gulf of Oman from the past 7 days and 13 stories from the past 30. That is faster than its usual pace over the past month. “Torm moves into Gulf of Oman shuttle tanker business on ‘case-by-case’ basis, CEO says” is tagged to Gulf of Oman.
How solid the energy case looks
12 out of 100
“Torm moves into Gulf of Oman shuttle tanker business on ‘case-by-case’ basis, CEO says” scores 12 out of 100. The score uses 1 sources.