Listeners can get 20% off Misadventures in Shipping subscriptions through April 17th here:
https://edfin.substack.com/monetary
Subscription includes access to Substack research pieces and private Twitter (X) account.
____
In this episode, Ed Finley-Richardson of the Misadventures in Shipping Substack joins Jack to break down how the Middle East conflict is creating unprecedented chaos (and massive profits) in the global shipping industry. With the ongoing disruptions near the Strait of Hormuz, global trade routes are being radically redrawn, forcing massive surges in spot market freight rates. Ed explains why smaller "MR" product tankers carrying refined fuels from the U.S. Gulf to Asia are currently minting fortunes, while very large crude carriers (VLCCs) prices are moderating after a surge that pre-dated the Iran War because of the aggressive actions of a certain Korean businessman. We dive deep into the specific tanker stocks positioned to capture this volatility, analyzing the fleets, corporate governance, and dividend potentials of major players like Frontline, International Seaways, and DHT Holdings. Listeners will learn about the counterintuitive economic forces unique to maritime trade, where logistical inefficiency directly drives margin expansion for shipowners. Finally, Ed lays out his "feeding frenzy" scenario—a potential massive logistical traffic jam that could occur if the straits reopen, proving exactly why books will be written about this generational shipping market. Recorded April 2, 2026.
Pieces discussed from “Misadventures in Shipping”:
“Bauxite (3): Why China is ‘locked in’ to Guinea as their main supplier” (March 14, 2026): https://edfin.substack.com/p/bauxite-3
“Hummus Fallout: A de facto Strait of Hormuz 'closure' is leading to a crescendo of panic” (March 6, 2026):
https://edfin.substack.com/p/hummus-fallout
“Atlantic MR Bonanza: Who Benefits Most?” (March 20, 2026): https://edfin.substack.com/p/atlantic-mr-bonanza-who-benefits
“Iron Ore: Indexes, Inventories” (April 3, 2026): https://edfin.substack.com/p/iron-ore-indexes-inventories
“DHT — How At Risk from Hormuz Fall-Out?” (March 10, 2026): https://edfin.substack.com/p/dht-how-at-risk-from-hormuz-fall
“The Strait of Hormuz & Tankers (1)” (April 4, 2024): https://edfin.substack.com/p/hummus-fallout
“VLCC S&P Rumor — 10 Vessels Sold” (January 7, 2024): https://edfin.substack.com/p/vlcc-s-and-p-rumor-10-vessels-sold
“VLCC Period Charter Modeling” (February 26, 2026): https://edfin.substack.com/p/vlcc-period-charter-modeling
Follow Ed Finley-Richardson on X https://x.com/ed_fin
Follow Jack Farley on X https://x.com/jackfarley96
Follow Monetary Matters on:
Apple Podcasts https://rb.gy/s5qfyh
Spotify https://rb.gy/x56dx5
YouTube https://rb.gy/dpwxez
