The BDTI (Baltic Dirty Tanker Index) tracks the crude tanker rates. The index proves that crude tankers are still siling at solid rates holding the prices of its stocks in a favorable position.
Analyst updates:
Here we give you a week by week analysis of the performance of crude tanker stocks.
Pareto Securities lowered its target price for Frontline () from $13.43 to $11.22 and maintained its “buy” rating.
This week, the General Maritime (), Teekay Tankers (), and Frontline () ended in negative territory, while other crude tanker stocks ended in positive territory. Let’s look in detail at each company’s performance for last week.
Mixed stock performance
- DHT Holdings (DHT) posted the highest return of 8% for the week ended March 11, 2016.
- Tsakos Energy Navigation (TNP), Nordic American Tankers (NAT), and Euronav (EURN) had weekly returns of 1%.
- The returns for other crude tanker stocks are as follows:
- General Maritime (GNRT) and Teekay Tankers (TNK) fell by 2%.
- Frontline (FRO) fell by 3%.
- Navios Maritime Midstream Partners (NAP) fell by 8%.
Shipping companies account for 19.7% of the Guggenheim Shipping ETF (SEA). SEA fell by 1% for the same period. Investors who are interested in broader exposure to the industrials sector can invest in the SPDR Dow Jones Industrial Average ETF (DIA).
Source: Market Realist
