Tom Werner/DigitalVision via Getty Images Thesis I last covered Hafnia ( HAFN ) in March of 2025, arguably very near the cyclical bottom in a quite volatile sector. At the time, disappointment stemming from the company's variable dividend policy drove the stock to an unreasonably low level . Today, the situation has completely flipped with clean tanker daily rates reaching unprecedented levels. Wh...
Tom Werner/DigitalVision via Getty Images Thesis I last covered Hafnia ( HAFN ) in March of 2025, arguably very near the cyclical bottom in a quite volatile sector. At the time, disappointment stemming from the company's variable dividend policy drove the stock to an unreasonably low level . Today, the situation has completely flipped with clean tanker daily rates reaching unprecedented levels. While the allure of chasing extraordinary dividends is hard to resist, investors usually get left holding the bag when investing pro-cyclically. In the current market, I would implore investors to reap the harvest from the seeds they planted earlier in the shipping cycle. Planting new seeds during harvest season is unlikely to yield new fruit, so I have provided a HOLD rating for HAFN. In this analysis, I examine the fallout of recent market disruptions. By looking at history, we can extrapolate potential future outcomes when the dust settles from the current disruption in the Middle East. The Deck Has Been Completely Reshuffled The recent market disruptions have created a unique situation where market rates for shipping services have spiked. This has occurred at a time when the total supply of crude oil products has significantly retracted. As shown below, the market usually behaves in the opposite fashion. These rates are being sustained at such a high level due to the massive inefficiencies created by the recent disruptions. Ton-mile demand has increased sufficiently to offset the lost volumes as vessels globally reposition, causing rates to reach record highs. Shipping Rates vs Volumes (HAFN Investor Presentation) Currently, the fall in supply has not been matched with a corresponding drop in demand. As a result, inventory drawdowns have also reached multi-year highs. This presents an opportunity for both the clean and dirty products markets to develop long-term momentum. The anticipated multiyear restocking effort should sustain tanker rates at elevated levels. HAFN has ...
Summit Midstream ( SMC ) has authorized the repurchase of up to $35 million of outstanding common shares. Heath Deneke, President, Chief Executive Officer and Chairman, commented, "The authorization of our inaugural share repurchase program reflects the Board's confidence in Summit's financial strength and the significant progress we have made over the past year in simplifying our balance sheet an...
Summit Midstream ( SMC ) has authorized the repurchase of up to $35 million of outstanding common shares. Heath Deneke, President, Chief Executive Officer and Chairman, commented, "The authorization of our inaugural share repurchase program reflects the Board's confidence in Summit's financial strength and the significant progress we have made over the past year in simplifying our balance sheet and strengthening our platform." Press Release More on Summit Midstream Summit Midstream Corporation (SMC) Shareholder/Analyst Call Transcript Summit Midstream Corporation (SMC) Q1 2026 Earnings Call Transcript Summit Midstream: One More Year Of Transition Summit Midstream outlines path toward $245m 2026 adjusted EBITDA midpoint while targeting Double E FID this summer Summit Midstream keeps common dividend suspended, declares Series A preferred payout
A domestic helper was injured and two cats were killed in a blaze believed to have been caused by a faulty pet water dispenser at a village home in Hong Kong on Monday morning. The fire broke out at about 11.20am in a third-floor flat in Wong Yi Au Tsuen, Tai Po. Firefighters arrived to battle the flames and rescued a 47-year-old Indonesian helper along with two cats. The fire was extinguished abo...
A domestic helper was injured and two cats were killed in a blaze believed to have been caused by a faulty pet water dispenser at a village home in Hong Kong on Monday morning. The fire broke out at about 11.20am in a third-floor flat in Wong Yi Au Tsuen, Tai Po. Firefighters arrived to battle the flames and rescued a 47-year-old Indonesian helper along with two cats. The fire was extinguished about 20 minutes later, at 11.40am. The helper, who had inhaled thick smoke, was taken to Alice Ho Miu...
Palantir stock remains under pressure in 2026, but strong AI growth, expanding margins, and enterprise adoption continue supporting the long-term bull case
Palantir stock remains under pressure in 2026, but strong AI growth, expanding margins, and enterprise adoption continue supporting the long-term bull case
(Bloomberg) -- Nvidia Corp. is entering the PC market with a new chip aimed at loosening the stranglehold of Intel Corp. technology in that arena and modernizing the machines for the AI era.Most Read from BloombergUS Says Deals With Iran for Safe Hormuz Transit Are ProhibitedBerkshire Hathaway to Buy Taylor Morrison for $6.8 BillionStrait of Hormuz Ship Transits Are Rising Thanks to US HelpA Rare ...
(Bloomberg) -- Nvidia Corp. is entering the PC market with a new chip aimed at loosening the stranglehold of Intel Corp. technology in that arena and modernizing the machines for the AI era.Most Read from BloombergUS Says Deals With Iran for Safe Hormuz Transit Are ProhibitedBerkshire Hathaway to Buy Taylor Morrison for $6.8 BillionStrait of Hormuz Ship Transits Are Rising Thanks to US HelpA Rare ‘Super’ El Niño Is Looking More Likely. Here’s What to ExpectAmericans Injured in Iranian Missile St
当地时间2026年5月31日，哥伦比亚波哥大，执政党历史公约联盟的总统候选人伊万·塞佩达的支持者聚集在他投票的投票站外。图：Matias Delacroix／视觉中国 【财新网】 5月31日，哥伦比亚总统大选首轮投票落幕，目前，超过99%的选票已经统计完毕，属于极右翼阵营的候选人阿韦拉多·德拉·埃斯普里耶拉（Abelardo De La Espriella）以43.73%的得票率领先，但仍未达到赢...
当地时间2026年5月31日，哥伦比亚波哥大，执政党历史公约联盟的总统候选人伊万·塞佩达的支持者聚集在他投票的投票站外。图：Matias Delacroix／视觉中国 【财新网】 5月31日，哥伦比亚总统大选首轮投票落幕，目前，超过99%的选票已经统计完毕，属于极右翼阵营的候选人阿韦拉多·德拉·埃斯普里耶拉（Abelardo De La Espriella）以43.73%的得票率领先，但仍未达到赢得选举所需的绝对多数。代表左翼历史联盟的伊万·塞佩达（Iván Cepeda）以40.91%的得票率位居第二。 由于没有候选人获得超过50%的选票，排名前两位的候选人将于6月21日进行决胜选举。
Managing director of Guardian Media Group who was the first woman to hold such a senior post on a national newspaper Caroline Marland, the former managing director of Guardian Media Group and the first woman to hold such a senior post on a national newspaper, who has died aged 80, was to a considerable extent the person who saved the Guardian financially in the 1980s. It was largely Marland’s init...
Managing director of Guardian Media Group who was the first woman to hold such a senior post on a national newspaper Caroline Marland, the former managing director of Guardian Media Group and the first woman to hold such a senior post on a national newspaper, who has died aged 80, was to a considerable extent the person who saved the Guardian financially in the 1980s. It was largely Marland’s initiative to wrest much of the job advertising market from the Times and Telegraph during that decade. This led to the creation of the paper’s successful weekly supplements: media on Mondays, education on Tuesdays, society on Wednesdays, all supported by tens and eventually hundreds of pages of job adverts, which produced revenues for the hitherto precariously financed paper that ran into many tens of millions annually. Continue reading...
Berkshire Hathaway Inc. is buying Taylor Morrison Home Corp. in an all-cash deal worth about $6.8 billion. The offer of $72.50 per common share represents a 24% premium to the home builder’s latest closing price on Friday and is the first major purchase under chief executive Greg Abel. Manuel Baigorri reports on Bloomberg Television. (Source: Bloomberg)
Berkshire Hathaway Inc. is buying Taylor Morrison Home Corp. in an all-cash deal worth about $6.8 billion. The offer of $72.50 per common share represents a 24% premium to the home builder’s latest closing price on Friday and is the first major purchase under chief executive Greg Abel. Manuel Baigorri reports on Bloomberg Television. (Source: Bloomberg)
American aircraft fired on a number of Iranian sites over the weekend, including Qeeshm Island in the Strait of Hormuz. And, Trump's anti-weaponization fund faces scrutiny in Congress and the courts. (Image credit: Kawnat Haju)
American aircraft fired on a number of Iranian sites over the weekend, including Qeeshm Island in the Strait of Hormuz. And, Trump's anti-weaponization fund faces scrutiny in Congress and the courts. (Image credit: Kawnat Haju)