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Jaeyoung McGarry

Research Analyst at Jefferies Financial Group Inc.

Jaeyoung McGarry is an Equity Research Analyst at Jefferies Financial Group Inc., specializing in global shipping and energy sectors with a focus on covering public companies such as Dorian LPG and TORM PLC. McGarry has earned recognition for accurate calls on VLGC rates and shipping equities, contributing to Jefferies’ noted sector performance and holding a strong track record for generating buy recommendations that align with positive market movements. Starting their financial research career prior to joining Jefferies, McGarry has consistently participated in high-impact reports and contributed to widely referenced industry outlooks, gaining visibility through conference calls and financial media. They possess professional securities analysis credentials and contribute expert insights on maritime transport and tanker markets.

Jaeyoung McGarry's questions to TORM (TRMD) leadership

Jaeyoung McGarry's questions to TORM (TRMD) leadership • Q1 2025

Question

Jaeyoung McGarry of Jefferies asked about the market impact of new LR2 vessel deliveries, questioning how noticeable the new supply is and whether these ships are remaining in the clean product trade or switching to dirty trades.

Answer

CEO Jacob Meldgaard explained that despite numerous LR2 newbuild deliveries, the number of LR2s trading clean has actually decreased, as more than 40 vessels have switched to the dirty (Aframax) trade. He emphasized that the LR2 and Aframax markets are integrated, creating a 'swing factor' that helps balance the market as new vessels enter.

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