DHT Holdings Inc
Latest DHT Holdings Inc News and Updates
Analysts’ Recommendations for Crude Tanker Stocks
In Week 28, analysts made no target price revisions or recommendation changes for crude tanker companies.
What Analysts Recommend for the Top Two Crude Tanker Stocks
DHT Holdings (DHT) was the best-performing stock among peers on a YTD basis.
China’s March Data and the Crude Tanker Industry
In many ways, China is the most important country for the crude oil tanker industry. In this series, we’ll take a close look at China’s March 2017 import-export data and manufacturing sector performance.
Is US Oil Demand Helping Crude Tankers?
US products supplied for the week ended March 17, 2017, totaled 19,225 Mbpd (thousand barrels per day), 1% less than in the previous week.
What Impacted Nordic American Tankers’ Top Line?
Nordic American Tankers’ revenue in 3Q16 fell to $71 million—compared to $88 million in 2Q16. Its revenue was 29% lower than its revenue in 3Q15.
EIA Crude Oil Inventory Report Supports Bearish Traders
The EIA reported that the US commercial crude oil inventory rose by 2.6 MMbbls (million barrels) to 487.4 MMbbls for the week ending December 25, 2015.
Credit Suisse Downgrades Navios Maritime Midstream Partners
Consensus recommendations On January 13, 2017, Credit Suisse downgraded Navios Maritime Midstream Partners (NAP) to “neutral” from “outperform” and decreased the target price to $12 from $13. Only five analysts give recommendations on Navios Maritime Partners. According to Reuters, the consensus rating for the stock is 2.6, which means a “hold.” One analyst has given a […]
Which Crude Tanker Companies Lost More in 3Q?
The third quarter wasn’t very good for tanker rates. In August 2016, the middle of the third quarter, tanker rates dropped to some of their lowest levels.
Euronav Provided Insights on the Rising Orderbook
Euronav thinks that the rise in the orderbook is partly due to the Tier 3 legislation on nitrogen oxide emissions. The legislation is applicable from January 2016.
Time Charter Rates Fell at the End of November
The time charter rates for one year on VLCCs (very large crude carriers) fell to $43,000 per day on November 25—compared to $45,500 per day the previous week.
VLCC Rates Are near Multiyear Lows
According to Weber’s report, VLCC rates for the route from the Arabian Gulf to China fell from $10,809 per day on August 18 to $8,747 per day on August 25.
China’s PMI Hits 19-Month Low—How It Impacts the Crude Tanker Industry
In February 2018, China’s manufacturing PMI (purchasing managers’ index) was 50.3.
China’s Oil Production and Imports Benefit Crude Tanker Industry
China’s crude oil imports in March hit a new record. Its total crude oil imports came in at 39.0 million tons, compared to 31.8 million tons in February.
Week 12: Nordic American Tankers Struggled
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.
Euronav’s Financial and Liquidity Position after Its 3Q16 Results
On September 30, 2016, Euronav (EURN) had long-term debt of ~$1.0 billion. This increased from $952 million at the start of the year.
Tsakos Energy Navigation’s Revenue Fell in 3Q16
Tsako posted revenue of $109 million in 3Q16—9% lower than last quarter’s revenue of $120 million and 23% lower than $141 million recorded in 3Q15.
China’s Auto Sales Rise 8.8%: The Impact on Crude Oil Tankers
China’s (MCHI) auto sales for the first two months of 2017 were 8.8% higher than sales for the same period in 2016.
Teekay Tankers’ Earnings: How Do They Compare?
In the first quarter, Teekay Tankers’ EBITDA fell to $80.9 million, from $83.9 million in the previous quarter.
VLCC Prices Rose First Time in 2017
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.
Gener8 Maritime Partners: Fourth-Best Performer in 2018
Gener8 Maritime Partners’ YTD returns were -10% as of April 5, 2018. Gener8 Maritime Partners is the fourth-best performer among its peers YTD.
What Could China’s March Data Mean for Crude Tanker Investors?
After a steep dip to a four-month low in January, crude oil imports in February jumped, which was a good sign for crude tanker investors.
How China’s Manufacturing and Auto Industry Are Impacting Crude Tankers
In May 2017, the Markit China Manufacturing PMI was 51.2 (MCHI)—similar to the previous month.
Baltic Dirty Tanker Index Rose by 67 Points in Week 21
Most of the crude tanker stocks rose in week 21. Euronav and DHT Holdings were the best performers in the sector.
Teekay in the Gulf of Mexico: What’s the Ship-To-Ship Business?
Teekay’s acquisitions complement the company’s ship-to-ship transfer business and expand its presence in the US Gulf of Mexico.
Analyzing DHT Holdings’ Performance in 2018
DHT Holdings’ (DHT) YTD returns were 1.1% as of April 5, 2018. DHT Holdings is the only crude tanker company with a positive YTD return.
How Do These 6 Crude Tanker Companies Compare?
After a spectacular 2015, the crude tanker industry is going through a rough patch in 2016. All crude tanker stocks have given negative year-to-date returns.
China’s Auto Sales Rose in August, Impacted Crude Tankers
In August 2017, China’s auto sales rose 4.1% YoY (year-over-year). Its total vehicle sales rose 5.3% to 2.19 million in August.
Tsakos Energy Navigation: Fifth-Best Performer in 2018
Tsakos Energy Navigation’s (TNP) YTD returns were -12.8% as of April 5, 2018. Tsakos Energy Navigation is the fifth-best performer among its peers YTD.
Tanker Fleet Mixes and Their Effects on Company Performance
At the onset of 4Q15, tanker rates started to climb as refineries completed their maintenance programs. The rate spike was especially lead by VLCCs.
Will Fleet Growth Prove Negative for the Crude Tanker Industry?
In the first week of 2017, the number of VLCCs (very large crude carriers) in the world was 686. Halfway into 2017, the VLCC fleet has grown to 713.
Will the US Crude Oil Inventories Report Benefit Crude Oil Prices?
US crude oil inventories hit an all-time high of 543.6 MMbbls in the week ending April 29, 2016. This will limit the upside potential for crude oil prices.
Must-Knows about Euronav’s Fleet and Recent Acquisitions
The day after Euronav (EURN) announced its 3Q16 results on October 31, it announced that its agreed to purchase the 50% of the joint venture it does not own in the VLCC VK Eddie.
Tankships seeks to expand its fleet size through acquisitions
Tankships seeks to expand its fleet size through timely and selective acquisitions of additional secondhand modern tankers and the available optional vessels.
VLCC Rates Rise by 127% Month-over-Month, BDTI Rises 15% YoY
VLCC rates (very large crude carrier) for the benchmark route Gulf to Japan rose from $49,400 per day last month to $112,100 per day for the week ending October 2, 2015.
Outlook for global growth and tanker fleet for Teekay Tankers
Looking ahead to 2015, Teekay Tankers Ltd. (TNK) forecasts 2.0% net global tanker fleet growth with major contribution from the product tanker sector. There is a negative fleet growth estimate for the Suezmax and uncoated Aframax sectors.
What Is Teekay Tankers’ Outlook for the Crude Tanker Industry?
In its first-quarter conference call, Teekay Tankers gave insights on the crude tanker market.
Five Key Crude Tanker Companies: A Comparison
The crude tanker industry is highly fragmented. The total world fleet of VLCCs (very large crude carriers) stood at 640 at the end of 2015.
Week 25: How Did the Crude Tanker Index Perform?
Since the beginning of 2018, the BDTI (Baltic Dirty Tanker Index) has fluctuated between 628 and 781. The year started out with the BDTI at 700.
WTI Crude Oil Holds above $50 per Barrel
WTI crude oil for May delivery trading in NYMEX gained marginally by 0.73% in yesterday’s trade. WTI oil prices closed at $50.79 per barrel on April 9, 2015.
Crude Tanker Stocks Fell in Week 29
The BDTI can be used to assess the crude tanker industry. In week 29 (week ending July 20), the BDTI fell from 744 to 723.
Crude Oil Prices Fell Due to the Appreciating US Dollar
December WTI crude oil futures contracts trading in NYMEX fell by 2.6% on November 17. Crude oil prices resumed a downward trend.
US Crude Takes Longest Route to Reach Destinations
According to preliminary weekly US data, total crude exports have averaged ~0.77 MMbpd in 2017—substantially higher than the same period last year.
Analysts See a 43% Potential Upside for Teekay Tankers
The consensus 12-month target price for Teekay Tankers is $1.69, which implies a potential upside of 43.2% from its July 11 market price.
How Does Tsakos’s Valuation Compare to Its Peers and Its Past?
Tsakos Energy Navigation’s enterprise value to earnings before interest, tax, depreciation, and amortization multiple is 4.7x as of February 18, 2016.
Why Tsakos Energy Navigation’s Revenue Rose 19% in 4Q16
Tsakos Energy Navigation (TNP) posted revenue of $130.0 million in 4Q16, which was 19.0% higher than $109.0 million in 3Q16.
Key for Investors: Valuations as Indicators
In the shipping industry, valuations are generally higher in bad times—the profitability is lower. Similarly, valuations are lower in good times.
Euronav: Third-Best Performer among Crude Tanker Stocks
Euronav’s (EURN) YTD (year-to-date) returns were -9.2% as of April 5, 2018. Euronav is the third-best performer among its peers on a YTD basis.
How DHT Holdings Has Been Improving Its Leverage
DHT Holdings’ (DHT) debt has risen to $662 million as of the end of 4Q15 from $621 million recorded in 3Q15.
Fleet Updates for Euronav in 4Q16
Long-term contract On October 3, 2016, Euronav (EURN) signed a long-term time charter contract with Valero Energy. The contract is for seven years and will commence in 2018. To fulfill the contract, Euronav has ordered two Suezmax vessels. They will be delivered in early 2018, just before the contract commences. Delivery deferred Euronav’s two VLCCs […]
How China’s Manufacturing Industry Is Performing
China’s manufacturing purchasing managers’ index In March 2017, China’s manufacturing PMI (purchasing managers’ index) score, a key indicator of the country’s economic health, stood at 51.8 (MCHI) (FXI). That was slightly higher than the 51.6 seen in February 2017. Its PMI score has risen for nine months straight. The reading was well above Reuters’s estimate and […]
Is Tsakos Energy’s Fleet the Key to a Bright Future?
Tsakos Energy Navigation (TNP) has a fleet of 65 double hull vessels consisting of a mix of crude tankers, product tankers, and LNG carriers.
Crude Oil Inventories Suggest Bear Market May Extend beyond 2016
The EIA projects that global crude oil inventories could slow down to 1.4 MMbpd in 4Q15, and then fall to an average of around 0.6 MMbpd.
Euronav: Recycling Is Encouraging for the Tanker Industry
Euronav (EURN) discussed the crude tanker industry in its 1Q18 conference call. Euronav talked about headwinds and constructive drivers.
Analysts Expect a Plunge in Frontline’s 3Q16 Revenues
Because crude tanker rates are generally strong in the fourth quarter, Wall Street analysts expect Frontline (FRO) to report a rise in revenue to $115.8 million in 4Q16.
Newbuild prices record marginal change
Newbuild VLCC (very large crude carrier) prices for the month of November 2014 decreased to $97.7 million compared to $98.1 million in October 2014.
Five-year and ten-year VLCC prices increase
With faster deliveries and employment of vessels, secondhand vessels tend to reflect industry participants’ expectations for medium-term fundamentals.
Crude oil contango and offshore storage
The drastic drop in crude oil prices created a situation in which the price of near-term crude is cheaper than the price of long-term crude.
DHT Holdings’ fleet portfolio and vessels under construction
Most of the vessels in DHT Holdings’ fleet portfolio were built in the year 2000 and onwards. The exception is one vessel that was built in 1999.
Tanker Rates Exhibit a Counter-Seasonal Trend
For June, the Baltic Dirty Tanker Index recorded 43% growth on a YoY basis. It was at 1,025. Normally, the tanker rates slowdown in the second quarter.
Evercore Downgraded DHT and Revised Companies’ Target Prices
In week 30, the week ending July 27, Evercore downgraded one crude tanker company and revised other companies’ target prices.
VLCC Rates Rose, Suezmax Rates Fell in Week 30
According to Weber’s report, the Suezmax rates on the West Africa-UK route fell from $7,184 to $6,451 per day on July 20–27.
China’s June Data Impact the Crude Tanker Industry
China (FXI) released its key economic data for June—import and export data, auto sales data, and the manufacturing index.
Navios Maritime Midstream Partners: Q2 2018 Highlights
Navios Maritime Midstream Partners (NAP) released its second-quarter results today. The company earned revenue of $20.8 million.
Morgan Stanley Revised NAT and DHT’s Target Prices
On July 17, Morgan Stanley raised Nordic American Tankers’ (NAT) target price to $2.5 from $2.25.
VLCC and Suezmax Rates Rose in Week 29
According to Weber’s weekly report, the VLCC (very large crude carrier) demand was stronger in week 29, which led to a rebound in VLCC rates.
VLCC and Suezmax Rates Fall
According to Charles R. Weber’s weekly report, VLCC (very large crude carrier) demand across all key global markets was muted last week, softening rates.
Week 26: Analysts’ Ratings for Crude Tanker Companies
In week 26, which ended on June 29, none of the analysts revised their recommendations or target prices for crude tanker companies.
Week 26: Crude Tanker Industry Update
In week 26, which ended on June 29, the BDTI fell from 754 to 712. In week 25, the index dropped by one point.
NAT, EURN, TNK: Which One Do Analysts Like the Most?
Analysts’ consensus rating for Nordic American Tankers (NAT) is 3.33, which means a “hold.”
Euronav Takes Fourth Place among Crude Tanker Stocks This Year
Euronav’s (EURN) YTD (year-to-date) returns were -1% as of June 28.
NAT Is the Third Best Crude Tanker Stock Performer
Nordic American Tankers’ (NAT) YTD (year-to-date) returns were 7% as of June 28.
DHT Holdings Is the Top Crude Tanker Stock So Far This Year
DHT Holdings’ YTD returns stood at 30.6% as of June 28. The stock is the best performer among its peers so far this year.
Analysts’ Forecast for Crude Tanker Companies’ Q2 Earnings
Previously, we discussed analysts’ recommendations for crude tanker stocks. Let’s now compare analysts’ revenue and EBITDA estimates for these companies in Q2 2018.
These Crude Tanker Companies Had Positive Free Cash Flow in Q1
Previously, we discussed crude tanker companies’ EBITDA. In this article, we’ll discuss their FCF (free cash flow).
A Look at Crude Tanker Companies’ Q1 Revenue
In this article, we’ll compare five crude tanker companies’ Q1 2018 revenue.
Crude Tankers: Wells Fargo’s Revised Recommendations
On June 18, Wells Fargo upgraded DHT Holdings (DHT), Frontline (FRO), and Teekay Tankers (TNK) to “outperform.”
Suezmax and VLCC Rates Rose in Week 25
The VLCC fixture tally in the Middle East market was 28 in week 25—a weekly gain of one. In the West Africa market, the VLCC fixture tally was seven.
How China’s May Crude Oil Imports Affect Crude Tanker Stocks
In dollar terms, China’s (FXI) exports rose 12.6% YoY (year-over-year) while its imports rose 26% in May.
Why China Remains So Important for the Crude Tanker Industry
China, which has the second-largest economy in the world, also has a significant impact on the crude oil tanker industry.
Evercore Revised Tsakos Energy Navigation’s Target Price
On June 15, Evercore reduced the target price for Tsakos Energy Navigation to $5 from $6 and maintained an “outperform” rating.
Tsakos Energy Navigation: No ‘Sell’ Ratings for 2 Years
According to Reuters, the consensus rating for Tsakos Energy Navigation is two, which means a “buy.”
DHT Holdings: Analysts Recommend a ‘Buy’
According to Reuters, the consensus rating for DHT Holdings (DHT) is 2.21, which means a “buy.”
Analyst Recommendations for Tsakos Energy Navigation before Q1
Tsakos Energy Navigation (TNP) is expected to release its first-quarter results on June 15. The stock has fallen 5.6% YTD as of May 30.
Teekay Tankers: Analysts Recommend a ‘Hold’
For Teekay Tankers, one analyst recommended a “strong buy,” two recommended a “buy,” four recommended a “hold,” and one recommended a “sell.”
Analysts Expect Frontline’s First-Quarter Revenue to Fall 30%
Analysts estimate net revenues of $85.2 million for Frontline (FRO) in the first quarter. A sequential fall from $178.5 million in the previous quarter.
Week 20: Aframax Rates Are Higher than VLCC Rates
In week 20, the VLCC rates for the route from the Arabian Gulf to China rose to $8,526 per day on May 18 from $7,360 per day on May 11.
China’s April Trade Data and the Crude Oil Tanker Industry
China, which has the second-largest economy in the world, has a significant impact on the crude tanker industry.
VLCC Rates below $10,000 for the Third Consecutive Week
According to Weber’s weekly report, VLCC (very large crude carrier) rates lacked a clear direction in week 17 with positive and negative pressure.
Updates on the Euronav and Gener8 Maritime Merger
Euronav (EURN) and Gener8 Maritime Partners’ (GNRT) merger should close towards the end of 2Q18—subject to Gener8 shareholders’ vote.
JPMorgan Chase Upgraded Navios Maritime Midstream Partners
On April 20, JPMorgan Chase upgraded Navios Maritime Midstream Partners (NAP) by two notches to “overweight” from “underweight.”
VLCC Rates Dropped below $10,000 per Day
According to Weber’s weekly report, VLCC demand was slower than expected last week.
VLCC, Suezmax, and Aframax Rates Dropped in Week 14
VLCC rates for the route from the Arabian Gulf to China fell to $14,531 per day on April 6, 2018, from $15,949 per day on March 29.
Analysts’ Recommendations: Top 2 Crude Tanker Stocks
DHT Holdings has the best YTD return as of April 5, 2018, among its peers. Analysts’ consensus rating for DHT Holdings (DHT) is 2.25.
Analysts’ Recommendations for Crude Tanker Companies
In week 11, the week ending March 16, 2018, none of the analysts revised their recommendations or target prices for crude tanker companies.
VLCC and Suezmax Rates Fell in Week 11
In the Middle East market, 21 VLCC fixtures were recorded in week 11—the week ending March 16, 2018.
Week 10: Where Are Crude Tanker Rates Heading?
Suezmax rates on the route from West Africa to the United Kingdom dropped from $13,860 per day on March 2 to $10,553 per day on March 9, 2018.
Tsakos Energy Navigation: Analyst Recommendations before 4Q17
Of the 13 analysts covering Tsakos Energy Navigation, two of them have recommended a “strong buy,” while six have recommended a “buy.”
Analyst Expectations for Tsakos Energy Navigation’s 4Q17 Earnings
Analysts’ EBITDA estimate for 4Q17 is $55.3 million, which would mean a 17.2% rise from $47 million in the previous quarter.
Analysts Expect Tsakos Energy Navigation’s Revenue to Fall 18%
Wall Street analysts expect Tsakos Energy Navigation’s (TNP) net revenue to be $107 million in 4Q17.
Week 9: Where Are Crude Tanker Rates Headed?
The average Aframax rates rose to $12,929 per day on March 2—compared to $9,837 per day on February 23.