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Crude Tanker Industry Had a Strong Performance in Week 36

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Crude Tanker Industry Had a Strong Performance in Week 36 PART 1 OF 4

Week 36: Crude Tanker Index Rose for the Third Consecutive Week

Week 36

The BDTI (Baltic Dirty Tanker Index) should be assessed when analyzing the crude tanker industry. In week 36 (ending September 8, 2017), the BDTI rose from 682 to 701. In week 35, the index rose by 39 points. The index rose for the third consecutive week.

Week 36: Crude Tanker Index Rose for the Third Consecutive Week

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The index has fallen ~23% since the beginning of 2017. The BDTI gives us an idea about the direction that crude oil tanker rates are heading.

Along with its weekly performance, it’s also important to look at the index’s yearly performance. The crude oil industry is characterized by seasonality. In the same period last year, the BDTI was at ~527. In week 36, the index is 31.4% higher year-over-year.

Stock performance

In week 36, crude tanker stocks gave mixed returns. Frontline was the worst performer in week 35. However, it was the best performer among its peers in week 36. On the other hand, Navios Maritime Midstream Partners was the worst performer in week 36—its stock fell 3.7%. The following are crude tanker companies’ stock returns in week 36:

  • Teekay Tankers (TNK) fell 0.7%.
  • Nordic American Tankers (NAT) rose 7.4%.
  • Tsakos Energy Navigation (TNP) fell 0.67%.
  • Gener8 Maritime (GNRT) rose 2.4%.
  • Frontline (FRO) rose 16.6%.
  • Euronav (EURN) rose 5.3%.
  • Navios Maritime Midstream Partners (NAP) fell 3.7%.

In the same week, the SPDR Dow Jones Industrial Average ETF (DIA) fell 0.58%.

Series overview

In this series, we’ll see how crude tanker prices fared in week 36. We’ll also look at crude oil prices, bunker fuel prices, and analysts’ recommendations for crude tanker stocks.

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