Tanker rates (and tanker stock prices) depend on supply and demand.
Demand depends on global oil demand and tanker miles.
Demolitions are about to surge.
China produces 25 million vehicles per year. Out of those 25 million, 7 million are EVs according to the latest monthly data. That’s a penetration rate of 30%. Moreover, China has 5X the population of USA but car sales are about the same. A lot of growth is still to come for China.
Oil can go much higher.
It is not over yet. Paper, glass, metals, fertilizer, beer, gas shortages are coming.
It is difficult to mine copper.
Yardeni increased the outlook on S&P500 from 3290-3995 to 3642-4230 in 2022 and from 3825-4590 to 4080-4845 in 2023.
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Correlation Economics (Backup) 