A Chinese institutional broker reports that oil tanker rates on the Middle East Gulf export route have surged from 200,000 to over 800,000 in two weeks, with multi-dimensional support suggesting the high景气 (boom) will exceed expectations.
The broker strongly recommends China Merchants Energy Shipping, COSCO Shipping Energy Transportation, and China Merchants Energy Shipping (Nanjing) as top plays on a tanker market that is tighter for longer.
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