Have you changed your playbook to chase where the rates are going or where customers are going? What's changed for you?

look we operate 50 tankers on the water from small vessels all the way up to vlccs and as i said we are very much at the forefront of whatever is happening in terms of both in the states of hormuz babal manda we have been trading in the black sea as well so you know we have become a security company because we are required to make security assessments every day to see where we'll be sending ships, how safe is it, what mitigants are there, what can we do to keep the vessels safe enough so that they can actually make the transit.

And so in terms of trades, again, oil is moving in weird and wonderful ways.

At the start of the conflict, Japan was importing 90% of its crude oil from the Middle East.

obviously that is not sustainable so things have changed in the last six eight months it's still difficult because there isn't enough supply available out there but trades are moving around and we have to move our ships around to manage what the customers need which is availability of ships in different places which were not necessarily how it was so for example vlcc is in the atlantic VLCC trade in the Atlantic had diminished as compared to what it was in the past.

But now you have wheels doing U.S. Gulf East, picking up cargoes in Brazil, Guyana, and also picking up oil now from South Korea again.

I mean, this was a trade that had more or less disappeared.

And that's why I think also that the regional trades will increasingly become important.

Who are those investors who are looking into buying or at least buying, renting a tanker? And what's involved in all that? What are our ships and what do we do with them?

Yeah.

So let's start with what is technical management.

Basically, technical management is the provision of crews on board.

So obviously, you have a ship.

It has to be run by people.

It's not run by AI.

Can you expand on that and how the industry deals with it?