s/balajisTANKER SHIPPING•Sep 20
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Breakwave tanker ETF BWET surged 5,820% as Iran war disrupted shipping
Breakwave Tanker Shipping ETF ($BWET) was reported up 5,820% over the past 12 months as Iran-war disruptions pushed tanker costs higher. That makes the shipping bottleneck look like a separate energy-market shock, not just another crude-price move.
$BWET tracks futures tied to transporting crude from the Middle East and West Africa to China and other destinations. Shipping Houston crude to Asia now adds roughly $26 per barrel, about three times prior levels, while China’s August Russian imports reached 2.64 million barrels per day, up 41% year over year.
$BWET tracks futures tied to transporting crude from the Middle East and West Africa to China and other destinations. Shipping Houston crude to Asia now adds roughly $26 per barrel, about three times prior levels, while China’s August Russian imports reached 2.64 million barrels per day, up 41% year over year.
Timeline3
Sep 20
Breakwave Tanker Shipping ETF was reported up 5,820% over the previous 12 months as global oil-shipping disruptions drove tanker costs higher.
Sep 20
Shipping from Houston to Asia was reported to add approximately $26 per barrel, with freight costs roughly triple prior levels.
Sep 20
China’s August crude imports were reported at 2.64 million barrels per day from Russia, up 41% year over year, while Malaysian flows also increased.
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Sep 20