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Teekay Tankers Ltd. Message Board

  • mikeyhorsehead mikeyhorsehead Apr 17, 2013 8:12 AM Flag

    Back with a six pack

    Back with a six pack


    Omar Nokta didn’t find much time for rest and relaxation while on gardening leave following his departure from Dahlman Rose, it appears.
    Just 24 hours after his new posting at Global Hunter Securities was announced, the analyst has wheeled out coverage of 38 companies across six separate shipping sectors.

    In an introductory report running to almost 150 pages, Nokta pins John Fredriksen’s Frontline 2012 and Scorpio Tankers - the two most active public owners during his time away from the Street – among his six “top picks”.

    Teekay Corp, Costamare, Diana Shipping and Fredriksen’s Ship Finance International are the others given star billing.

    “We believe the outlook for each of these companies is very promising due primarily to attractive asset mixes, strong balance sheets and potential for outsized returns,” Nokta said.

    “While many shipping companies are facing financial difficulty amidst the current downturn, there are several that are in solid shape to continue navigating through these weak periods, having positioned themselves well for a potential upturn.”

    In announcing Nokta’s return to the fray in a chair previously filled by Natasha Boyden yesterday, Global Hunter trumpeted his ability to identify inflection points in various shipping market cycles.

    Nokta branded the dry-bulk market as mired in severe distress. But with heavy newbuilding deliveries slowing after 2013 he says the outlook is improving.

    His stance on the crude tanker sector remains cautious, “but we view 2013 as the trough for this segment,” the report said.

    “The refined product trade continues to show stronger signs with spot rates in 2013 so far averaging their highest levels since 2008; we forecast this market will continue to strengthen,” he added.

    Nokta believes the container sector has shown initial signs of improvement. “Charter rates remain at very low levels with long-term charters nearly absent from the market; we project charter rates will begin to improve as we approach 2014,” he said.

    Improvements in LNG are expected to continue, although at a less robust pace, while LPG is seen as “very promising”.

3.42+0.24(+7.55%)May 25 4:02 PMEDT