Report
EUR 1710.00 For Business Accounts Only

Tanker Shipping - Downgrade to Neutral on multiple headwinds


  • Low crude prices a boon; but unchecked ordering of past to hurt in future, Demand for tankers to grow, albeit at a slower pace, Supply surge to outpace demand growth
  • Euronav: DMER cuts fair value estimate and downgrades the stock to Neutral, 2Q16 will be firm but long-term prospects seem dicey
  • DHT Holdings Inc: Newbuilds to drive growth in 2016; weaker rates to offset it in outer years, 2Q16 booking of VLCCs provides near-term visibility
  • Nordic American Tankers: Expected softening in rates to offset benefits of fleet expansion, Full spot exposure to hurt profitability

  • Underlying
    Nordic American Tankers, Euronav NV, DHT Holdings Inc

    Provider
    Drewry Maritime Equity Research
    Drewry Maritime Equity Research

    Drewry, since 1970, has been providing research and advisory services on the global Maritime and Shipping industries and has established itself as a firm with long history of credibility and expertise on various aspects of the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies operating in the maritime industry. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER led by Rahul Kapoor and his team, offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise and commercial awareness, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

    Analysts
    Rahul Kapoor

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