Euronav NV

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

Refinery margins have fallen throughout most of the world. US Gulf refinery margins for WTI crude lost more than $2 compared to last month’s level.

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.

On March 22, 2018, the average bunker fuel price was $423 per ton—compared to $413 per ton on March 15.

On December 21, 2017, Euronav (EURN) and Gener8 Maritime Partners (GNRT) announced a stock-for-stock merger.

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

China (FXI) released key economic data for December 2017—import and export data, auto sales data, and the manufacturing index.

On January 4, 2018, the average bunker fuel price was $431 per ton—compared to $413 per ton on December 21, 2017.

Newbuild vessel prices fell in March 2017. We saw in our last month’s series that newbuild vessel prices also fell in February.

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 has a long history of paying dividends—77 consecutive quarters to date. It declared a cash dividend of $0.26 per share on October 27.

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.