We first outlined our bullish view on tankers in April 2025. Since then, the trade has played exceptionally well, delivering triple-digit returns.
We are aware that we published a report recently expecting further gains in tanker equities, and that this change in stance is coming quicker than we would have liked. However, we said explicitly that we would be quick on our feet if new information changed the picture.
That time has come. Shipping is purely cyclical, and knowing when to get out is just as important as knowing when to get in.
