Inactive · established relationshipLatest completed snapshot · Oct 7 · 18:22 ET

MARKET-DISCOVERED GROUP

Oil & Gas Midstream

THE TRADER READRecurring relationship, inactive in the latest snapshot

Price direction is split across 19 measured members. Capital-flow agreement is 40%, so the basket is not yet clean.

Price breadth7 up · 12 downRelative median unavailable

Capital-flow alignment40%Price breadth is not yet confirmed by flow

Activity nowCalmActivity score 7/100 · lift 0.8×

Evidence depth9 episodes38 observed active sessions

EVIDENCE CLOCK

What happened, in timestamp order

0 timed events

TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations

Price sequence unavailableA timestamped price sequence is unavailable.

RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast

WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

No high-confidence shared filing driver is available. The market relationship is observed, but the cause remains unexplained.

CONFIRMATION NETWORK

Outsiders and cross-asset links

5 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

CCLMoving with group

LPG · text peer

GNKMoving with group

LPG · text peer

PANLMoving with group

INSW · text peer

NCLHMoving with group

INSW · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately

STNGTENLPGTKDHTBWLPSFLINSWSBLKFLNGHAFNDACNATNVGSTNKFROTRMDCMRECMBT

5/19 active7 rising · 12 falling

MemberUnusual activityToday's moveRead now

STNGScorpio Tankers Inc.

Elevated · 100/100

-2.1%

Active; unclassifiedActive in 57.9% of observed group sessions

TENTsakos Energy Navigation Limited

Most unusual · 85/100

-1.3%

Active; unclassifiedActive in 7.9% of observed group sessions

LPGDorian LPG Ltd.

Elevated · 78/100

-0.5%

Active; unclassifiedActive in 2.6% of observed group sessions

TKTeekay Corporation Ltd.

Elevated · 50/100

+0.4%

Active; unclassifiedActive in 5.3% of observed group sessions

DHTDHT Holdings, Inc.

Elevated · 40/100

+0.8%

Flow confirmerActive in 21.1% of observed group sessions

BWLPBW LPG Limited

Quiet · 34/100

-0.5%

Watch / laggardActive in 23.7% of observed group sessions

SFLSFL Corporation Ltd.

Quiet · 33/100

-0.2%

Watch / laggardActive in 5.3% of observed group sessions

INSWInternational Seaways, Inc.

Quiet · 31/100

+0.3%

Watch / laggardActive in 47.4% of observed group sessions

SBLKStar Bulk Carriers Corp.

Quiet · 29/100

-0.5%

Watch / laggardActive in 15.8% of observed group sessions

FLNGFLEX LNG Ltd.

Quiet · 29/100

-0.7%

Watch / laggardActive in 0% of observed group sessions

HAFNHafnia Limited

Quiet · 27/100

+1.9%

Watch / laggardActive in 15.8% of observed group sessions

DACDanaos Corporation

Quiet · 26/100

-0.9%

Watch / laggardActive in 42.1% of observed group sessions

NATNordic American Tankers Limited

Quiet · 25/100

-0.2%

Watch / laggardActive in 5.3% of observed group sessions

NVGSNavigator Holdings Ltd.

Quiet · 23/100

-0.2%

Watch / laggardActive in 23.7% of observed group sessions

TNKTeekay Tankers Ltd.

Quiet · 23/100

+1.0%

Watch / laggardActive in 39.5% of observed group sessions

FROFrontline plc

Quiet · 22/100

+0.6%

Watch / laggardActive in 15.8% of observed group sessions

TRMDTORM plc

Quiet · 20/100

-0.4%

Watch / laggardActive in 44.7% of observed group sessions

CMRECostamare Inc.

Quiet · 18/100

-0.5%

Watch / laggardActive in 34.2% of observed group sessions

CMBTCmb.Tech NV

Quiet · 16/100

+1.4%

Watch / laggardActive in 21.1% of observed group sessions

View exact member values

TICKER	Company	Role now	Today	Observed history	Trader interpretation
STNG	Scorpio Tankers Inc.	Participating	-2.1%	57.9% of 38 sessions	Price participation is not yet confirmed by per-name flow.
TEN	Tsakos Energy Navigation Limited	Most unusual	-1.3%	7.9% of 38 sessions	Most unusual activity in this snapshot; performance direction may differ.
LPG	Dorian LPG Ltd.	Participating	-0.5%	2.6% of 38 sessions	Price participation is not yet confirmed by per-name flow.
TK	Teekay Corporation Ltd.	Participating	+0.4%	5.3% of 38 sessions	Price participation is not yet confirmed by per-name flow.
DHT	DHT Holdings, Inc.	Participating	+0.8%	21.1% of 38 sessions	Price participation with accumulating signed flow.
BWLP	BW LPG Limited	Quiet / lagging	-0.5%	23.7% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
SFL	SFL Corporation Ltd.	Quiet / lagging	-0.2%	5.3% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
INSW	International Seaways, Inc.	Quiet / lagging	+0.3%	47.4% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
SBLK	Star Bulk Carriers Corp.	Quiet / lagging	-0.5%	15.8% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
FLNG	FLEX LNG Ltd.	Quiet / lagging	-0.7%	0% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
HAFN	Hafnia Limited	Quiet / lagging	+1.9%	15.8% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
DAC	Danaos Corporation	Quiet / lagging	-0.9%	42.1% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
NAT	Nordic American Tankers Limited	Quiet / lagging	-0.2%	5.3% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
NVGS	Navigator Holdings Ltd.	Quiet / lagging	-0.2%	23.7% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
TNK	Teekay Tankers Ltd.	Quiet / lagging	+1.0%	39.5% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
FRO	Frontline plc	Quiet / lagging	+0.6%	15.8% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
TRMD	TORM plc	Quiet / lagging	-0.4%	44.7% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
CMRE	Costamare Inc.	Quiet / lagging	-0.5%	34.2% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.
CMBT	Cmb.Tech NV	Quiet / lagging	+1.4%	21.1% of 38 sessions	Not participating yet; a breadth test or a genuine divergence.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome

POINT-IN-TIME LIVE OUTCOMES

Observed follow-through

7/7 events completed

30 minutes+0.09%67% continuation · n=3Median MFE +0.21% · MAE -0.52%

60 minutes-0.08%33% continuation · n=3Median MFE +0.21% · MAE -0.52%

Session close-0.08%33% continuation · n=3Median MFE +0.21% · MAE -0.52%

Next-session close-0.08%33% continuation · n=3Median MFE +0.21% · MAE -0.52%

moderate structural support

9 completed episodes across 38 active sessions provide moderate historical support. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support129 daysHow often the cohort identity was observed

Completed episodes9Separate periods of broad group activity

Active sessions38Completed session observations, not trades

2026-09-29 → 2026-10-023 active sessions9.1% composition consistency through the episode

2026-07-21 → 2026-08-1715 active sessionsNo name was active through every recorded session

2026-07-07 → 2026-07-167 active sessionsNo name was active through every recorded session

2026-06-24 → 2026-07-026 active sessionsNo name was active through every recorded session

2026-06-16 → 2026-06-183 active sessionsNo name was active through every recorded session

2026-06-051 active session100% composition consistency through the episode

MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS

STNG57.9% · 8 episodes

INSW47.4% · 5 episodes

TRMD44.7% · 6 episodes

DAC42.1% · 5 episodes

TNK39.5% · 5 episodes

CMRE34.2% · 5 episodes

BWLP23.7% · 7 episodes

NVGS23.7% · 3 episodes

CMBT21.1% · 1 episode

DHT21.1% · 6 episodes

FRO15.8% · 4 episodes

HAFN15.8% · 3 episodes

SBLK15.8% · 4 episodes

TEN7.9% · 2 episodes

NAT5.3% · 2 episodes

SFL5.3% · 2 episodes

TK5.3% · 2 episodes

LPG2.6% · 1 episode

FLNG0% · 0 episodes