“This past year has been fairly weak until the last 2 or 3 weeks….
VLCCs, which are 2 million-barrel ships, went from making, in the spot market, $30,000/day to $325,000/day in 14 days.”
RJ Lyons is the President & CEO of Mjolner Shipping, focusing their operations on crude oil and refined products. RJ started working in the shipping industry after graduating from the US Merchant Marine Academy where he gained his ship officer’s license. From here, RJ’s career moved forward exposing him to nearly every aspect of the physical trading and transportation market of crude oil.
In this conversation we discuss:
- How physical commodity traders integrate shipping into their firms.
- The types of shipping leases and varying parameters surrounding the agreements.
- How and why RJ started Mjolner Shipping.
- The 3 main strategies you can observe by players in the industry.
- What does the current shipping environment look like today?
- What should investors pay attention to when investing in the shipping industry?
It was incredibly interesting to learn about an industry that is an essential part of the global economy. I hope you enjoy our conversation as much as I did.
Cheers,
Co-Founder, Resource Insider
PS. Check us out on iTunes HERE
