When assessing the crude tanker industry, it’s important to look at the BDTI (Baltic Dirty Tanker Index). In week 30, the week ending July 27, the BDTI rose to 759 from 723. The BDTI has risen ~8.4% in 2018. Investors should compare the BDTI’s YoY (year-over-year) performance because the industry is seasonal. At the same time last year, the index was 16% higher at ~648. In week 30, the BDTI fell by 21 points.
Performance last week
Crude tanker stocks gave a mixed return in week 30. Tsakos Energy Navigation rose and was the best performer. Teekay Tankers fell the most among crude tanker stocks. The following are the stock returns for week 30:
- Teekay Tankers (TNK) fell 4.48%.
- Nordic American Tankers (NAT) fell 1.26%.
- Tsakos Energy Navigation (TNP) rose 3.56%.
- Frontline (FRO) fell 2.06%.
- Euronav (EURN) had a return of 0%.
- DHT Holdings (DHT) fell 2.66%.
- Navios Maritime Midstream Partners (NAP) had a return of 0%.
During the same period, the SPDR Dow Jones Industrial Average ETF (DIA) rose ~1.53%.
Last week, crude tanker companies announced their second-quarter results. To learn more, read Navios Maritime Midstream Partners: Q2 2018 Highlights.
In this series, we’ll see whether crude tanker rates rose in week 30. We’ll also discuss bunker fuel prices. We’ll see if analysts revised any of their recommendations for crude tanker stocks.