on fire???? | FRO Message Board Posts

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Msg  11147 of 12281  at  10/21/2019 2:27:41 PM  by

vanv0028


 In response to msg 11146 by  bulkrzzz
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Re: on fire????

Refineries buy crude. A few million dollars versus needing to shut down and restart a refinery is nothing. There is also the problem of needing to deliver hedged RB and HO. I don't think refineries want to try to purchase those to deliver on the open market. I think the reason Suezmaxs around 130k/day were higher than VLCCs is that VLCC owners would not agree to the 130K/day price. Otherwise how can a 2 million barrel dirty tanker be worth more than a one million barrel tanker.


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