PRM keeps slowly creeping -up for good reasons.

As here concluded high oil prices do not necessarily mean higher profits for PRM but, but likely more demand for storage and buffer as oil is now now a more valuable commodity!

This in fact is the more sophisticated and durable version of my PRM bullish thesis. The crude linkage most analysts make is too simplistic — "oil up, tanker rates up, PRM profits up."  That's too direct and too cyclical.

My version is structurally sounder: Higher oil price=higher value of the commodity in transit, which means: Traders and refiners want more buffer stock, more floating storage as a hedge... Governments and NOCs accelerate strategic reserve builds here PRM FSU segment specifically benefits — those are essentially floating oil warehouses, and when the commodity inside is worth more, the insurance/storage value of the vessel rises with it.

Longer storage durations increase vessel utilization without requiring new ships.  This is exactly where PRM's FSU infrastructure angle shines... The FSU contracts aren't spot-rate sensitive in the same way cyclical tankers are — but the demand for FSU capacity increases when oil becomes a more strategically valuable and price-volatile commodity.

Clients don't want to be caught short. So paradoxically PRM should in time benefit more from sustained high oil prices through FSU demand than through BDTI spot rate spikes — which was always my core argument about the market misclassifying it as a pure tanker cyclical. The retail or semi institutional SET investor sees "oil up, tanker stock, buy."