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Week 42: Crude Tanker Industry Update

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Week 42: Crude Tanker Industry Update PART 1 OF 4

Week 42: Crude Tanker Industry Update

Week 42

It’s important to look at the BDTI (Baltic Dirty Tanker Index) when assessing the crude oil tanker industry. In week 42, which ended on October 20, 2017, the BDTI fell from 903 to 896. In week 41, the index rose by 127 points. The index shows the direction that crude oil tanker rates are heading. The index has fallen ~16% compared to the beginning of the year.

The crude oil industry is seasonal. It’s important to look at the index’s yearly performance. During the same period last year, the BDTI was ~681. In week 41, the index is 322.4% higher year-over-year.

Week 42: Crude Tanker Industry Update

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Stock performance

In week 42, all of the crude tanker stocks traded in the green. The following are crude tanker companies’ stock returns in week 42:

  • Teekay Tankers (TNK) rose 3.6%.
  • Nordic American Tankers (NAT) rose 2.6%.
  • Tsakos Energy Navigation (TNP) rose 5.2%.
  • Gener8 Maritime (GNRT) rose 2%.
  • Frontline (FRO) rose 0.8%.
  • Euronav (EURN) rose 2.4%.
  • Navios Maritime Midstream Partners (NAP) rose 6.7%.

In the same week, the SPDR Dow Jones Industrial Average ETF (DIA) rose 1.6%.

Series overview

In the next part of this series, we’ll see where crude tanker—VLCC, Suezmax, and Aframax—rates are heading. We’ll also discuss the cost side of the tanker industry—bunker fuel costs. In the last part of this series, we’ll see if any analysts revised their recommendations on crude tanker companies. We’ll also discuss the consensus recommendations for these companies.

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