“$10,000 invested at the time of BWW's IPO in 2003 would now be worth $175,000, a rate of return no one can argue with.”
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Said on Business Wars
Monetary Matters with Jack Farley · The Most Extreme Shipping Market in History, Explained | J Mintzmyer on Why Oil Tanker Rates Are Up 25x and Why It Can’t Last (and Why Dry Bulk, not Tankers, is the Next Shipping Boom)
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argued that shipping disruptions (conflict, storms) can actually be beneficial for tanker rates
“$10,000 invested at the time of BWW's IPO in 2003 would now be worth $175,000, a rate of return no one can argue with.”
“‘Inefficiency is good for tankers because it causes ships to go in inefficient routes, which causes the total amount of miles … to go up… ton miles is the real commodity…’”
“We had kind of a meta conversation about how do we want to handle conflict… we never argued on the ice… that always remained our safe place.”
“Sole trader is the cheapest and easiest way of setting up... the tipping point ... profit of around $100,000 because that's when the 25% tax rate starts being more beneficial.”
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