DHT Holdings Inc

In Week 28, analysts made no target price revisions or recommendation changes for crude tanker companies.

Newbuild VLCC (very large crude carrier) prices rose in May 2017, and this is the first time we’ve seen a rise in prices this year.

With faster deliveries and employment of vessels, secondhand vessels tend to reflect industry participants’ expectations for medium-term fundamentals.

China (FXI) released its key economic data for June—import and export data, auto sales data, and the manufacturing index.

China, which has the second-largest economy in the world, has a significant impact on the crude tanker industry.

Euronav had a liquidity of $754 million at the end of the fourth quarter. Euronav has been working to strengthen its liquidity position.

China’s General Administration of Customs estimates that China’s crude oil imports fell by 180,000 bpd to 8 MMbpd in August 2017—compared to July 2017.

According to the Weber Weekly Report, VLCC rates on the benchmark route rose from $32,439 per day on April 13, 2017, to $38,884 per day on April 21, 2017.

Nordic American Tankers’ (NAT) dividend yield has ranged from 6.3%–10.36% in the past four quarters. NAT had a dividend yield of 14.17% as of February 11, 2016, one of the highest dividend yields in the industry.

Market estimates from Bloomberg suggest that China’s crude oil imports in 2016 may rise by 8% to 7.2 MMbpd (million barrels per day).

On July 1, the Baltic Dirty Tanker Index was at 952 points, the highest in July. Then the index took a free fall and hit 752 points on July 31 and 673 on August 12.

Vessel operating expenses mainly include crewing, repair and maintenance, and insurance expense, but not fuel cost (DBO).