No matter how you turn this, these rates are insane. Still these stocks are not loved - yet. As an example, $DHT has a breakeven of <$20K on a VLCC. Last quarter, they had "the highest quarterly result in the company’s 15-year history" - will be even better this quarter!
@hkuppy
"In addition to being highly profitable, these time charter contracts will reduce the cash break-even levels for our spot trading ships – now down to $2,600 per day for the remaining three quarters of 2020. This is in our view very robust and we believe you would be hard ...
...pressed to find any public company matching this number. Cash break-even means different things to different people. In DHT it includes all true cash cost, i.e. daily OPEX, debt repayment, interest, G&A and maintenance CAPEX (e.g. dry-docks)."
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