Tsakos Energy Navigation Ltd

Most Recent

  • uploads///Bunker Fuel Prices_Week
    Energy & Utilities

    Bunker Fuel Prices and Crude Oil Prices Fell in Week 30

    For the week ending July 27, oil prices rose 2%. Oil prices were supported by EIA’s (U.S. Energy Information Administration) weekly report.

    By Sue Goodridge
  • uploads///Spot_Week _Revised
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///tanker _
    Energy & Utilities

    How Did the Crude Tanker Industry Fare in Week 30?

    In week 30, the week ending July 27, the BDTI rose to 759 from 723. The BDTI has risen ~8.4% in 2018.

    By Sue Goodridge
  • uploads///PMI_New Logo
    Energy & Utilities

    China’s PMI in June Impacts the Crude Tanker Industry

    China released its June PMI on July 1. In June, China’s manufacturing PMI was 51.5. The PMI fell 0.4% from the previous month.

    By Sue Goodridge
  • uploads///wilhelmshaven sea bridge tanker
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Bunker Fuel Prices_Week
    Energy & Utilities

    Where Did Bunker Fuel Prices Head in Week 29?

    On July 12–19, bunker fuel’s average price fell to $478.5 per ton from $504 per ton. The bunker fuel prices at Rotterdam fell to $416 per ton.

    By Sue Goodridge
  • uploads///Spot_Week _Revised
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///wilhelmshaven sea bridge tanker
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Bunker Fuel Prices_Week
    Energy & Utilities

    A Look at Bunker Fuel Prices Last Week

    Between July and July 12, bunker fuel’s average price fell to $504 from $505.25 per ton.

    By Sue Goodridge
  • uploads///Spot_Week _Revised
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///TNP
    Energy & Utilities

    Tsakos Energy Navigation: Analysts’ Views before Q2 2018 Results

    The consensus 12-month target price for Tsakos Energy Navigation is $5.05, which implies a potential upside of 44.7% from its market price on July 12.

    By Sue Goodridge
  • uploads///Analyst Recco_
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///ship waters sea transport system
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Revenue_New Logo
    Company & Industry Overviews

    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.

    By Sue Goodridge
  • uploads///EBITDA
    Company & Industry Overviews

    Comparing Euronav’s, Frontline’s, and Teekay Tankers’ Earnings

    Previously, we compared five crude tanker companies’ Q1 2018 revenue. In this article, we’ll look at their Q1 2018 EBITDA.

    By Sue Goodridge
  • uploads///Revenue_New Logo
    Company & Industry Overviews

    A Look at Crude Tanker Companies’ Q1 Revenue

    In this article, we’ll compare five crude tanker companies’ Q1 2018 revenue.

    By Sue Goodridge
  • uploads///Spot_Week _Revised
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Oil imports China_New Logo
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///flag _
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///TNP
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Rev
    Earnings Report

    Tsakos Energy Navigation: Earnings Estimate for the First Quarter

    Wall Street analysts expect net revenue of $100.8 million for Tsakos Energy Navigation (TNP) in the first quarter.

    By Sue Goodridge
  • uploads///tanker _
    Earnings Report

    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.

    By Sue Goodridge
  • uploads///TNP
    Energy & Utilities

    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.”

    By Sue Goodridge
  • uploads///TNK
    Energy & Utilities

    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.”

    By Sue Goodridge
  • uploads///Bunker Fuel_Week
    Miscellaneous

    Where Are Bunker Fuel Prices Headed?

    On May 24, the average bunker fuel price was $512.25 per ton compared to $509.25 per ton on May 17.

    By Sue Goodridge
  • uploads///tanker _
    Miscellaneous

    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.

    By Sue Goodridge
  • uploads///Analyst Recco
    Earnings Report

    DNB Market Raised Frontline’s Target Price

    On May 29, DNB Market raised the target price for Frontline to 60 Norwegian kroner from 40 Norwegian kroner.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Miscellaneous

    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.

    By Sue Goodridge
  • uploads///bamboo network _
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Bunker Fuel Prices_Week _Revised
    Energy & Utilities

    Trump Withdraws US from Iran Nuclear Deal: Bunker Fuel Prices Up

    In week 19, average VLCC (very large crude carrier) rates dropped from the previous week and are again below $10,000.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Financial Highlights
    Earnings Report

    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.

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    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.”

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    VLCC Rates Dropped below $10,000 per Day

    According to Weber’s weekly report, VLCC demand was slower than expected last week.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///DHT_Analyst Rating
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///TNP
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///TNP
    Energy & Utilities

    JPMorgan Chase: Revisions for TNP and EURN

    On March 23, 2018, JPMorgan Chase reduced Tsakos Energy Navigation’s (TNP) target price to $5 from $5.5.

    By Sue Goodridge
  • uploads///Bunker Fuel Prices_Week
    Energy & Utilities

    Analyzing Bunker Fuel Prices in Week 12

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

    By Sue Goodridge
  • uploads///tanker _
    Energy & Utilities

    Will the Trade War Impact the Crude Tanker Industry?

    On March 22, 2018, President Trump announced the imposition of up to $60.0 billion on China’s imports. China plans $3 billion in retaliatory tariffs.

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Bunker Fuel Prices_Week
    Energy & Utilities

    Where Did Bunker Fuel Prices Head in Week 11?

    On March 15, 2018, the average bunker fuel price was $413 per ton—compared to $411 per ton on March 8.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///PMI
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    Week 10: UBS Revised Tsakos Energy Navigation’s Target Price

    In week 10, the week ending March 9, 2018, one analyst revised Tsakos Energy Navigation’s (TNP) target price.

    By Sue Goodridge
  • uploads///Bunker Fuel Prices_Week
    Energy & Utilities

    Week 10: Where Bunker Fuel Prices Are Heading

    On March 8, 2018, the average bunker fuel price was $411 per ton—compared to $409.5 per ton on March 1.

    By Sue Goodridge
  • uploads///Analyst Recco
    Earnings Report

    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.”

    By Sue Goodridge
  • uploads///EBITDA
    Earnings Report

    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.

    By Sue Goodridge
  • uploads///Revenue
    Earnings Report

    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.

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    Week 9: Evercore Revised Frontline’s Target Price

    In week 9 of 2018, one analyst revised Frontline’s (FRO) target price. On March 1, Evercore reduced Frontline’s target price to $3.5 from $4.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    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.

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    Week 8: Evercore Revised Frontline’s Target Price

    In week 8, the week ending February 23, 2018, one analyst revised the target price for Frontline (FRO).

    By Sue Goodridge
  • uploads///China Auto Sales
    Energy & Utilities

    China’s January Auto Sales Impact the Crude Tanker Industry

    The China Association of Automobile Manufacturers predicts 3% auto sales growth in 2018—the same as the growth rate in 2017.

    By Sue Goodridge
  • uploads///PMI
    Energy & Utilities

    Analyzing China’s January Purchasing Managers’ Index

    In January 2018, China’s manufacturing PMI (purchasing managers’ index) was 51.3. The PMI fell from 51.6 in December.

    By Sue Goodridge
  • uploads///Oil imports China
    Energy & Utilities

    China’s Crude Oil Imports Rose 20% in January

    China released its trade data for January. In dollar terms, China’s exports rose 11.1% YoY (year-over-year), while its imports rose 36.9%.

    By Sue Goodridge
  • uploads///tanker _
    Energy & Utilities

    Week 7: Crude Tanker Industry Update

    In week 7 of 2018, which ended on February 16, the BDTI rose to 649 from 642. In week 6, the index fell by 16 points.

    By Sue Goodridge
  • uploads///Revenue
    Earnings Report

    How Navios Maritime Midstream Partners’ Revenues Trended in 4Q17

    Navios Maritime Midstream Partners’ (NAP) 4Q17 revenue of $22.7 million fell $0.1 million from the $22.8 million revenue recorded in 4Q16.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    Week 5: VLCC Demand Lowest in the Past Few Years

    VLCC rates for the route from the Arabian Gulf to China dropped from $10,925 per day on January 26 to $8,274 per day on February 2.

    By Sue Goodridge
  • uploads///Balance sheet
    Earnings Report

    Analyzing Euronav’s Balance Sheet on December 31

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

    By Sue Goodridge
  • uploads///EBITDA
    Earnings Report

    Euronav in 4Q17: A Look at Costs and Earnings

    Euronav’s vessel operating expenses fell to ~$33.9 million in 4Q17—compared to ~$37.3 million in 4Q16 and $37.9 million in 3Q17.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    VLCC, Suezmax, and Aframax Rates Fell Steeply in Week 4 of 2018

    According to Weber’s weekly report, VLCC fundamentals weakened considerably in last week. Souring fundamentals pushed the rates down.

    By Sue Goodridge
  • uploads///Revenue
    Earnings Report

    Navios Maritime Midstream Partners’ Revenue Could Fall 7%

    Analysts expect revenues of $21.18 million for Navios Maritime Midstream Partners in 4Q17—compared to $20.7 million in the previous quarter.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    How Crude Tanker Rates Moved Last Week

    According to the Weber weekly report, VLCC (very large crude carriers) rates moved broadly higher on the back of narrowing availability of vessels in the Middle East market.

    By Sue Goodridge
  • uploads///EURN
    Earnings Report

    Euronav: Analysts’ Recommendations before Its 4Q17 Results

    The average target price for Euronav is $9.9—compared to its current market price of $8.95. It implies a potential upside of 10.6%.

    By Sue Goodridge
  • uploads///EBITDA
    Earnings Report

    Euronav: Where Do Analysts View Its 4Q17 EBITDA?

    Since analysts estimate a rise in Euronav’s revenue compared to 3Q17, they also expect the EBITDA to rise.

    By Sue Goodridge
  • uploads///Revenue
    Earnings Report

    Euronav: Analysts Estimate an 18.7% Fall in Its 4Q17 Revenues

    Wall Street analysts expect revenues of $118.9 million for Euronav (EURN) in 4Q17—compared to $104.8 million in the previous quarter.

    By Sue Goodridge
  • uploads///China Auto Sales
    Energy & Utilities

    Analyzing China’s December Auto Sales Data

    In December 2017, China’s auto sales rose 0.1% YoY (year-over-year) to 3.1 million. China’s automobile sales have been rebounding since June.

    By Sue Goodridge
  • uploads///PMI
    Energy & Utilities

    Was China’s December PMI Data Positive for Crude Tankers?

    In December 2017, China’s manufacturing PMI (purchasing managers’ index) was 51.6. The PMI fell from 51.8 in October.

    By Sue Goodridge
  • uploads///Oil imports China
    Energy & Utilities

    China’s Crude Oil Imports Fell fom November’s High

    In December, China’s crude oil imports were 33.7 million tons—down from 37.04 million tons in the previous month.

    By Sue Goodridge
  • uploads///Crude Tanker Stock Perf
    Energy & Utilities

    China’s December Trade Data Impact the Crude Tanker Industry

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

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    Suezmax and Aframax Rates Fell in Week 2

    According to the Gibson report, Suezmax rates on the West Africa to United Kingdom route fell to $6,500 per day on January 11, 2018.

    By Sue Goodridge
  • uploads///Spot Rates_Week
    Energy & Utilities

    Crude Tanker Rates: 2018 Hasn’t Started on a Good Note

    According to Weber’s report for week 1 of 2018, VLCC rates continued to sour due to the rising level of surplus availability in the Middle East market.

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    Week 51: Analysts’ Recommendations for Crude Tanker Companies

    None of the analysts revised their recommendations or target prices for crude (DBO) tanker companies in week 51 (week ending December 22, 2017).

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    Analysts’ Recommendations for NAP, DHT, and TNP

    Analysts’ consensus target price is $9.5 as of December 19. NAP is trading at $9.21, which implies a 3.1% return in the next 12 months at the current price.

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    Top 2 Crude Tanker Stocks: Analysts’ Recommendations

    Euronav was the best performing stock in 2017 among its peers. Analysts’ consensus rating for Euronav (EURN) is 2.17, which means a “buy.”

    By Sue Goodridge
  • uploads///Crude Tanker Stock Perf
    Energy & Utilities

    Gener8 Maritime Partners: Second-Best Performing Stock

    Gener8 Maritime Partners (GNRT) YTD (year-to-date) returns were -0.89% as of December 18, 2017. It was the second-best performer among its peers in 2017.

    By Sue Goodridge
  • uploads///EURN
    Energy & Utilities

    Euronav: Best Performing Stock in 2017 among Crude Tankers

    Euronav’s (EURN) YTD (year-to-date) returns were 3.7% as of December 18, 2017. It was the best performer among its peers in 2017.

    By Sue Goodridge
  • uploads///Crude Tanker Stock Perf
    Energy & Utilities

    Top 5 Crude Tanker Stocks in 2017 by Market Returns

    It hasn’t been a good year for the crude tanker industry. Tanker rates experienced a steep fall this year. VLCC rates have fallen almost 70% year-to-date.

    By Sue Goodridge
  • uploads///PMI
    Energy & Utilities

    Is China’s Manufacturing Sector Improving?

    In November 2017, China’s manufacturing PMI (purchasing managers’ index) was 51.8. The PMI rose from 51.6 in October.

    By Sue Goodridge
  • uploads///Oil imports China
    Energy & Utilities

    China’s Crude Oil Imports Are at Record Levels

    In November, China’s crude imports rose to the second-highest level on record. In November, China’s crude oil imports were 37.04 million tons.

    By Sue Goodridge
  • uploads///cbeababecde
    Energy & Utilities

    China’s November Data Impact the Crude Tanker Industry

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

    By Sue Goodridge
  • uploads///Analyst Recco
    Energy & Utilities

    Week 49: Deutsche Bank Revised Frontline’s Target Price

    In week 49, which ended on December 8, one analyst revised its target price for Frontline. Deutsche Bank raised Frontline’s target price to $5 from $3.

    By Sue Goodridge
  • uploads///Dividend
    Earnings Report

    Tsakos Energy Navigation’s Dividend and Cash Position in 3Q17

    Tsakos Energy Navigation’s (TNP) operating cash flow for 3Q17 was $28.6 million—compared to $58.4 million in the previous quarter.

    By Sue Goodridge
  • uploads///fleet
    Earnings Report

    Tsakos Energy Navigation Completes Its Newbuild Program

    Currently, Tsakos Energy Navigation has 51 vessels on a time charter contract out of its 65 vessels. The current time charter tenure is 2.5 years.

    By Sue Goodridge
  • uploads///Fleet
    Company & Industry Overviews

    Week 48: Euronav and Nordic American Tankers’ Fleet Updates

    Nordic American Tankers (NAT) announced on December 1, 2017, that it has secured financing for three of its newbuilds under construction.

    By Sue Goodridge
  • uploads///fleet
    Energy & Utilities

    Euronav, DHT Holdings Selling Their Old Vessels

    On November 24, 2017, Euronav (EURN) sold its VLCC (very large crude carrier) Artois. It was 298,330 DWT (deadweight tonnage) and wholly owned by Euronav.

    By Sue Goodridge
  • uploads///Fleet
    Earnings Report

    Frontline’s Current Fleet and Newbuild Updates

    Frontline had 61 vessels in its fleet on September 30. The 61 vessels include 22 VLCCs, 18 Suezmax tankers, 20 LR2/Aframax tankers, and one MR vessel.

    By Sue Goodridge
  • uploads///Analyst Ratings
    Earnings Report

    Analysts’ Recommendations for Tsakos before Its 3Q17 Results

    Of the 11 analysts covering Tsakos Energy Navigation, two analysts gave it a “strong buy,” six gave it a “buy,” and three gave it a “hold.”

    By Sue Goodridge
  • uploads///HIghlights
    Earnings Report

    What to Expect from Tsakos Energy Navigation’s 3Q17 Results

    Tsakos Energy Navigation stock reached a 52-week low of $4.06 on November 16, 2017. The company’s stock has fallen 9.6% as of September 27, 2017.

    By Sue Goodridge
  • uploads///China Auto Sales
    Energy & Utilities

    China’s Auto Sales in October Helped the Crude Tanker Industry

    In October 2017, China’s automobile sales rose 2% YoY (year-over-year) to 2.7 million. China’s automobile sales have been rebounding since June.

    By Sue Goodridge
  • uploads///PMI
    Energy & Utilities

    China’s Manufacturing Sector Slowed Down

    In October 2017, China’s manufacturing PMI was 51.6, which was higher than Reuters’ forecast of 52. The PMI fell from 52.4 in September.

    By Sue Goodridge
  • uploads///Oil imports China
    Energy & Utilities

    China’s Crude Oil Imports: Lowest in the Last 13 Months

    In October, China’s crude imports fell to the lowest level in the last 13 months. In October, China’s crude oil imports were 31.03 million tons.

    By Sue Goodridge
  • uploads///Crude stocking
    Energy & Utilities

    Will China’s Crude Stocking Activity Fall in 2018?

    According to Drewry’s shipping analyst, China’s stocking activity will fall to 0.25 Mbpd in 2018 from an average of 0.75 Mbpd in 2017.

    By Sue Goodridge
  • uploads///spot Rates_Week
    Energy & Utilities

    Week 46: Where Did VLCC and Suezmax Rates Head?

    According to Weber’s week 46 report, VLCC rates largely remained range bound. In week 46, 16 VLCC fixtures were recorded in the Middle East market.

    By Sue Goodridge
  • uploads///Costs
    Earnings Report

    A Look at Teekay Tankers’ 3Q17 Cost Side

    Teekay Tankers’ (TNK) central cash costs include voyage expenses and vessel operating expenses.

    By Sue Goodridge
  • uploads///Market outlook
    Earnings Report

    Teekay Tankers Highlights Positive Industry Developments

    In its third quarter conference call, Teekay Tankers (TNK) gave insights on the tanker market, how it fared in the third quarter, and the outlook for the coming quarters.

    By Sue Goodridge
  • uploads///BDTI_Week
    Energy & Utilities

    Week 45: Crude Tanker Industry Update

    In week 45, which ended on November 10, 2017, the BDTI fell to 803 from 843. In week 44, it fell by 71 points.

    By Sue Goodridge
  • uploads///cadaddaeaeaccbdcda
    Earnings Report

    Nordic American Tankers Was Weaker in 3Q17

    Nordic American Tankers (NAT) reported revenues of $23.6 million—10.8% lower than Reuters’ estimate. Its EBITDA was 168% lower than the estimate.

    By Sue Goodridge
  • uploads///BS
    Earnings Report

    Key Highlights from Euronav’s Balance Sheet

    In 3Q17, Euronav repaid all its outstanding debt and associated liabilities, which amounted to $30.2 million on FSO (floating storage and offloading) joint ventures.

    By Sue Goodridge
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