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Key Updates from the Crude Tanker Industry Last Week

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Jan. 25 2018, Updated 9:04 a.m. ET

Week 3

In week three of 2018, which ended on January 19, 2018, the BDTI rose from 684 to 705. The BDTI gives us an idea about which direction crude tanker rates are heading. The index fell 15% compared to the BDTI at the end of 2017. In week 1, the index rose by four points. Since the crude tanker industry is seasonal, it’s important to look at the BDTI’s yearly performance. The BDTI was at ~1,011 during the same period last year. In week three, the index was 29% lower year-over-year.

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Weekly performance

Most crude tanker stocks traded in the red in week three except for Frontline and Navios Maritime Midstream Partners. Crude tanker companies’ stock returns for week three of 2018 are as follows:

  • Teekay Tankers (TNK) fell 2.2%.
  • Nordic American Tankers (NAT) fell 0.38%.
  • Tsakos Energy Navigation (TNP) fell 1.2%.
  • Gener8 Maritime (GNRT) fell 2.7%.
  • Frontline (FRO) rose 1.2%.
  • Euronav (EURN) fell 0.56%.
  • Navios Maritime Midstream Partners (NAP) rose 2.8%.

In the same week, the SPDR Dow Jones Industrial Average ETF (DIA) rose 1.9%.

Series overview

In the next part of this series, we’ll see if crude tanker rates managed to rise in the third week of 2018. Then, we’ll see where bunker fuel prices are trading. Finally, we’ll see if analysts have revised any of their recommendations for crude tanker stocks.

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