Bloomberg – The biggest hedge fund in shipping is turning bullish on the largest oil tankers for the first time in four years as the U.S. push toward energy independence provides China with a greater share of global crude supply.
The U.S. is importing the least in 13 years as China buys more than ever, lengthening voyages for tankers and effectively reducing the fleet’s capacity, government data show. Very large crude carriers, each hauling 2 million barrels, will earn $40,000 a day this year, 81 percent more than in 2011, said Andreas Vergottis, the Hong Kong-based research director of Tufton Oceanic Ltd., which manages about $1.3 billion of assets.
