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.
Since the Trump administration announced its new budget proposal, Boeing (BA) stock has risen 1.1%, closing at $179.4 on March 20, 2017.
Of the 25 analysts tracking Boeing (BA), four (16%) have issued a “strong buy” recommendation on the stock, while seven (28%) have issued a “buy.”
Boeing (BA) is expected to be one of the largest beneficiaries of Trump’s proposed increased military spending.
The Defense Department, Department of Homeland Security, and Department of Veterans Affairs would be the clear winners in Trump’s proposed budget plan.
President Trump’s first budget calls for a massive increase in the country’s military spending.
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.
Tsakos Energy Navigation (TNP) posted revenue of $130.0 million in 4Q16, which was 19.0% higher than $109.0 million in 3Q16.
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.
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 plans to further curtail its steel capacity to address rising pollution levels in that country.
U.S. Steel Corporation (X) and other steelmakers rallied handsomely after Donald Trump’s election.
Despite its cost headwinds, U.S. Steel (X) expects to post EBITDA of $1.3 billion in 2017.
Analysts polled by Thomson Reuters expect U.S. Steel to post revenues of $11.9 billion in 2017.