I am buying a tanker stock, Scorpio Tankers (STNG), as a bet that charter rates for these ships will continue to climb as the surplus of crude and its distillates continues to grow. This company has plenty of debt and I am unsure about its management so the wiser thing to do would be to spread the bet amongst numerous tanker companies so as not to be devastated by any single company malfeasance. I already own five tanker company stocks including Scorpio, but will add this purchase to the blog in order to track its performance. This Speculation is a follow up a previous Commentary.
Bought tranche #1 @ 23.88.