Tankers are always a volatile sector. $45 is unlikely, but possible, If it should get to $45 I won't have been NAT shareholder for the last $25.
But to ever see $20 much less $45 they must break themselves of the habit of diluting their stock to acquire newer vessels, thereby preserving dividends and screwing their stockholders.
In the long term, the network of pipelines growing across the Eurasian continent is a bigger threat to tanker profitability than the age of the NAT fleet.
I'm still hoping for a late spring spike in tankers to give me my exit target.