Yea STNG is more bulk carry. and there debt of course...
Ironicaly thestock is up so much because of the Ukraine situation. The conflict has driven oil products dislocations around the world. The net effect is an increase in the distance traveled by vessels transporting refined petroleum products.<----- This supports high product tanker rates, which is good for STNG's financial performance and stock price.
What goes up will come down.
To service its debt, STNG forked out $136.1 million in net interest expenses in 2021, $146.2 million in 2020, $173 million in 2019. The company essentially spends as much as 25% of its annual revenue servicing debt.
Ironicaly thestock is up so much because of the Ukraine situation. The conflict has driven oil products dislocations around the world. The net effect is an increase in the distance traveled by vessels transporting refined petroleum products.<----- This supports high product tanker rates, which is good for STNG's financial performance and stock price.
What goes up will come down.
To service its debt, STNG forked out $136.1 million in net interest expenses in 2021, $146.2 million in 2020, $173 million in 2019. The company essentially spends as much as 25% of its annual revenue servicing debt.
