Week 38: Crude Tanker Industry Update

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Week 38: Crude Tanker Industry Update PART 1 OF 4

Week 38: Crude Tanker Industry Update

Week 38

The BDTI (Baltic Dirty Tanker Index) should be analyzed when investors assess the crude tanker industry. In week 38 (ending September 22, 2017), the BDTI rose from 744 to 772. In week 37, the index rose by 37 points. The index rose for the fourth consecutive week.

Week 38: Crude Tanker Industry Update

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The BDTI shows the direction that crude oil tanker rates are heading. The index has fallen ~16% since the beginning of 2017.

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 ~585. In week 38, the index is 26.7% higher year-over-year.

Stock performance

In week 38, most of the crude tanker stocks traded in the green. Only Nordic American Tankers and Gener8 Maritime Midstream Partners traded in the red. The following are crude tanker companies’ stock returns in week 38:

  • Teekay Tankers (TNK) rose 3.8%.
  • Nordic American Tankers (NAT) fell 0.76%.
  • Tsakos Energy Navigation (TNP) rose 1.6%.
  • Gener8 Maritime (GNRT) fell 3.3%.
  • Frontline (FRO) rose 5.5%.
  • Euronav (EURN) returned 0%.
  • Navios Maritime Midstream Partners (NAP) rose 0.94%.

In the same week, the SPDR Dow Jones Industrial Average ETF (DIA) rose 0.34%.

Series focus

In the next part of the series, we’ll see how VLCC, Suezmax, and Aframax rates fared in week 38. In this series, we’ll analyze the cost side—bunker fuel prices. In Part 4, we’ll discuss analysts’ recommendations for crude tanker companies.


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