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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 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...

WP_Post Object ( [ID] => 286329 [post_author] => 100 [post_date] => 2023-03-01 22:15:40 [post_date_gmt] => 2023-03-01 22:15:40 [post_content] => 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... [post_title] => Earnings Season: Big Tankers Rake In Big Bucks [post_excerpt] => 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... [post_status] => publish [comment_status] => open [ping_status] => closed [post_password] => [post_name] => earnings-season-big-tankers-rake-in-big-bucks [to_ping] => [pinged] => [post_modified] => 2023-03-01 22:15:40 [post_modified_gmt] => 2023-03-01 22:15:40 [post_content_filtered] => [post_parent] => 0 [guid] => https://gcaptain.com/?p=178196 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw )