Down 24% Today, Up 3,800% YTD: The Wild Oil-Shipping Trade Behind This ETF
The BWET ETF plunged 24% Tuesday but remains up over 3,500% YTD as soaring tanker rates and a crude-shipping crunch reshape oil markets.
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https://www.wsj.com/logistics-report/tanker-shortage-sends-oil-shipping-rates-soaring-d526cdb7
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The BWET ETF plunged 24% Tuesday but remains up over 3,500% YTD as soaring tanker rates and a crude-shipping crunch reshape oil markets.
Hormuz and Red Sea disruptions are driving tanker freight rates higher, sending BWET ETF to all-time highs as shipping risks intensify.
BTIG analyst Gregory Lewis maintains DHT Holdings (NYSE:DHT) with a Buy and raises the price target from $23 to $28.
DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") today announced it has entered into a three-year time charter agreement at $100,000 per day for the VLCC DHT Panther, built in 2016. The contract is
Geopolitical instability in the Middle East has caused maritime chokepoints at the Strait of Hormuz, forcing vessels to reroute and reducing global fleet capacity. This has driven tanker charter rates to historic highs, with daily spot rates reaching nearly $470,000 compared to previous $75,000-$100,000 levels. Shipping companies are reporting record earnings, and freight ETFs—particularly those focused on tanker shipping—are experiencing exceptional returns, with BWET up over 3,700% year-to-date.
Diana Shipping Inc. (NYSE:DSX), (the "Company"), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned