Thanks for the (double) heads-up !! {;-)
There certainly are aspects to consider in the shipping sector as Paul Senior also pointed out ....
Message 34515804
..... especially when one considers the nature of the cargo that a particular shipping company may be concentrating on.
Regarding your reference to "A decent sized percentage of European gasoline is now sourced from India with Russian crude" ..... Unfortunately, for themselves, IMO, the EU, UK and USA decided to impose Sanctions on Russia, and especially with regard to Russia's crude oil and its piped Natural Gas.
The aspect of the Oil was that Janet Yellen came up with the "Bright(?)" idea of imposing a $60/barrel "price cap" that countries should pay for Russian crude .....
reuters.com
One thing that resulted from that move was that India bought Russian crude at their agreed rate, refined it in their vast Refinery network, and then sold the refined products to the EU states and made a healthy profit. And the EU ended up paying FAR MORE than it would have cost them had they not sanctioned Russia, plus they were actually getting a "Russian sourced" product that they, indirectly, had "Sanctioned" !! .... but that's another story ...
As you may have gathered from possibly reading my posts, I look at certain specific components within a company's Financials to see whether or not the company is operating well/profitably as a business.
In FRO's case it ticks virtually all the boxes. The one area that it currently is "low" on is its Tax rate. It's currently paying very little tax which "enhances" its Net Income. However, even if it was paying 25% tax its Net Income would still be a healthy 30%.
So it looks to me that whatever FRO is handling within the Shipping sector it's making a good profit in so doing and its price is in the "buy" zone despite the fact that it's risen over 3 times in the last 2 years .....
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