Analysts’ Recommendations for Crude Tankers in Week 12
No analysts gave Nordic American Tankers (NAT) “buy” recommendations, six gave it “hold” recommendations, and one gave it a “sell” recommendation.
Bunker fuel prices fell in week 12, compared to the previous week, mainly due to steady crude oil prices and ample bunker fuel inventories.
According to the Weber Weekly Tanker Report, demand for VLCCs rose. Due to an oversupply of tankers in the Middle East, VLCC rates continued to fall.
In the week ending March 24, 2017, (week 12) the BDTI (Baltic Dirty Tanker Index) fell from 824 to 804. The index fell every day of the week except one.
In this part of the series, we’ll discuss the consensus recommendations for these companies. In week 11, Tsakos Energy Navigation (TNP) released its 4Q16 earnings.
Overall bunker fuel prices in week 11 fell compared to the previous week, mainly due to steady crude oil prices and ample bunker fuel inventories.
In this article, we’ll take a look at crude (DBO) tanker rates. Let’s see which tankers performed the best in week 11 of 2017.
In the week ended March 17, 2017, the BDTI (Baltic Dirty Tanker Index) fell from 850 to 824. The index fell each day of the week.
According to a Reuters consensus, Tsakos Energy Navigation has a consensus rating of 1.9, which means a “buy.”
At the end of the fourth quarter, Tsakos’s debt rose $177.0 million from the previous quarter. Rising debt was due to the delivery of its newbuilds.
Tsakos Energy Navigation’s (TNP) operating cash flow in 4Q16 was $32.2 million. That compares to $44.8 million in the previous quarter.
Tsakos Energy Navigation (TNP) has a fleet of 65 double hull vessels consisting of a mix of crude oil tankers, product tankers, and LNG carriers.
In 4Q16, Tsakos Energy Navigation’s EBITDA was $53.4 million. That’s 31.0% higher than the previous quarter’s EBITDA of $40.5 million.
Tsakos Energy Navigation (TNP) posted revenue of $130.0 million in 4Q16, which was 19.0% higher than $109.0 million in 3Q16.
Oil demand in 2016 rose 1.6 million barrels per day. In 2017, oil demand growth is forecast at 1.4 million barrels per day.
On March 17, 2017, Tsakos Energy Navigation (TNP) announced its 4Q16 earnings. Its net revenues were $99.1 million, which was $17.0 million more than 3Q16.
China’s (MCHI) auto sales for the first two months of 2017 were 8.8% higher than sales for the same period in 2016.
In February 2017, China’s manufacturing PMI, a key indicator of the country’s economic health, was 51.6, which was slightly higher than 51.3 in January 2017.
China’s total exports fell 1.3% YoY (year-over-year) in February 2017, which was worse than the 14.0% rise estimated by a Bloomberg survey.
China has released its key economic data for February 2017. The information is crucial for assessing the outlook of the crude oil tanker industry.