Week 12: Nordic American Tankers Struggled


Dec. 4 2020, Updated 10:52 a.m. ET

Week 12

When assessing the crude tanker industry, it’s important to look at the BDTI (Baltic Dirty Tanker Index). In week 12 of 2018, which ended on March 23, the BDTI rose from 635 to 656. In week 11, the index dropped by 18 points. The index shows the direction that crude tanker rates are heading. The index has fallen ~21% since the beginning of the year.

Since the crude oil industry is seasonal, it’s important to look at the BDTI’s yearly performance. During the same period last year, the BDTI was at ~820. In week 12, the index was 20.6% lower year-over-year.

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Weekly performance

Most of the crude tanker stocks fell in week 12. In contrast, most of the crude tanker stocks rose in week 11. The following are the stock returns for the week ending March 23.

  • Teekay Tankers (TNK) fell 3.2%.
  • Nordic American Tankers (NAT) fell 10.1%.
  • Tsakos Energy Navigation (TNP) fell 0.85%.
  • Gener8 Maritime (GNRT) fell 3.2%.
  • Frontline (FRO) rose 0.23%.
  • Euronav (EURN) fell 2.3%
  • DHT Holdings (DHT) fell 3.4%.
  • Navios Maritime Midstream Partners (NAP) fell 5%.

During the same period, the SPDR Dow Jones Industrial Average ETF (DIA) fell 5.6%.

Next, we’ll discuss the crude tanker rates in week 12.


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