Anyone know what made TNK go up so much this afternoon?
Rates on Aframax still improving in the west!
Dirty Tankers West of Suez Commentary New York (Platts)--19May17/0745 pm EDT/ 2345 GMT
The Aframax market was firm in the Mediterranean Friday with tight tonnage driving rates up rapidly, source said. The cross-Mediterranean Aframax route, basis 80,000 mt, was assessed at Worldscale 145, w7.5 higher. Eni was said to have taken a Suezmax on subjects at that level to replace an Aframax for an 80,000 mt stem from La Skhirra, Tunisia, to Italy with May 23 loading. "Tonnage is still tight for May and there are also ships with uncertain itineraries which complicates things for charterers," a shipbroker said. The Baltic to UK Continent Aframax route, basis 100,000 mt, was flat at w67.5. "It is a bit tighter for end-May dates but the market looks stable for now with demand slow," a shipbroker said. The Suezmax route from West Africa to UK Continent was assessed flat at w75. Total was said to have the Nordic Vega on subjects at this level for a stem with June 4-5 loading dates. The market was steady, but rates have already picked up this week and a number of cargoes failed on subjects and will be pushed out again next week, sources said. VLCC rates continue to be eroded in West Africa and the route to China, basis 260,000 mt, was valued at w53, w2 lower. Chemchina was said to have the Leonidas on subjects at this level for a stem with June 20-22 loading dates. The Persian Gulf continued to soften, taking down the West African market with it, sources said. North Sea business has been slow but charterers have been heard approaching owners, looking at moving stems off dates from June 20 ex-Hound Point, sources said. Handysize prices were firm in Northwest Europe and the route form the Baltic to UK Continent, basis 30,000 mt, was valued at w170. "Rates have firmed rapidly and will most likely be repeated again as its still tight for tonnage in the Baltic Sea," a shipbroker said. A number of Russian refineries have been coming out of maintenance more fuel oil was being offered into Rotterdam and the US on larger Aframax vessels, sources said.
Are of us are claiming for a long time already that TNK is undervalued compare to other tanker companies and when the stock goes up we start giving other reasons why the stock went up. Let's stick to the point it probably went up because people are finally realizing that TNK is so underdervalued
Teekay Tankers Bags Sale-Leaseback Deal for Suezmax Quartet
The next two quarters will be brutal. So the question is if people ride it out or panic.
So tomorrow's the big day! Anyone want to guess what earnings will be? I'm guessing (-.02 - 0.00). If analysts are true to form that means TNK will miss by .02 - .03 as usual coming in at (.02 - .03), like I've said before they always seem to over estimate this stock than under estimate, so I always expect them to miss more so than not. Let me here your guesses! P.S. I'm still buying more every lower level!!!!!! It'll pay off in the long run!
I bought pre-earnings for a quick trade based on higher Suez rates from Q4. Wrong. Based on the last earnings presentation TNK reported 62 percent of Q1 dates at 26.2K, yet full quarter results came in at 21.9K. Thus the balance of 38 percent days were only 14.9K. The worst Q1 Suez results of the other majors, NAT, GNRT, EURN. Q2 is looking poor, 55 percent days at 19.2K and given recent sub 15K rates the quarter will be much lower. Out for a few bucks gain.
Aframax going up further! A lot of good news today!
Dirty Tankers West of Suez Commentary New York (Platts)--18May17/0745 pm EDT/ 2345 GMT
Aframaxes in the Mediterranean continued their ascent Thursday as fresh inquiry was struggling with a quickly melting tonnage list. The cross-Mediterranean route, basis 80,00 mt, jumped Worldscale 10 to w137.5. The Maersk Jeddah and the Petrazavodsk were both heard going on subjects at that rate with Eni and Exxon, respectively, for May 26 and May 25 loading dates. With most prompt vessels already covered and quite a few ships missing firm itineraries, charterers have been finding it hard to slow down the growth in rates. However, as shipping sources said, the situation could change quickly unless there is more fresh inquiry Friday. "There is already a considerable resistance from charterers," a shipbroker said. "So, a few quiet days plus some ballasters from the north and competition from Suezmaxes could take the wind out of this market." In the meantime, Aframaxes in the Baltic and UK Continent started to feel the positive influence of the busy Mediterranean market. With more vessels with positions in UK Continent now willing to hunt the Med business, tonnage got slightly tighter in that region. This combined with healthy fuel oil inquiry, helped rates on the Baltic-UKC route, basis 100,000 mt, up by w2.5 to w70. The Front Ocelot was heard on subjects to Total fora 100,000 mt fuel oil Ust Luga-UKC cargo at w70. At the same time, Suezmaxes were steady with West Africa-UKC, basis 130,000 mt, assessed flat at w75. "At the moment, the rates are in the w72.5-w75 range," a shipowner said. "The market is quite stable and the freight fluctuates depending on specific cargo or ship requirements rather than supply and demand." The Alaska was heard on subjects to Repsol for a WAF-Spain 130,000 mt cargo with June 10 laycan at w73.75. Similarly, rates for Black Sea-Med runs, basis 135,000 mt, were unchanged at w85. While Suezmaxes in the Mediterranean were feeling support from the stronger Aframax market, it was not enough to give rates a clear push up. "There were some Suezmax offers for Aframax stems, but nothing got fixed yet," said a shipbroker. "Aframax rates would have to go up a bit higher to really become a factor."
Aframax surging and Suezmax bumping up in the west
Dirty Tankers West of Suez Commentary New York (Platts)--17May17/0745 pm EDT/ 2345 GMT
Mediterranean Aframax rates surged Wednesday, while Northwest European Aframax routes were stable, sources said. The Black Sea to Mediterranean route, basis 80,000 mt, was assessed at Worldscale 130, w20 higher. Litasco was said to have taken a vessel on subjects at that level for a stem loading at the CPC terminal May 31. There was still a lot of cargo left to be fixed in the Black Sea and Mediterranean and owners were bullish, offering as high as w165 for cross-Med stems, sources said. The Baltic to UK Continent Aframax route, basis 100,000 mt, was assessed flat at w67.5. Tonnage was a little tighter but activity was limited and most charterers were covered for May, sources said. Total was also said to have won a Surgut tender for a 100,000 mt crude stem loading in the Baltic off June 1-2, sources said. The Suezmax route from West Africa to UK Continent, basis 130,000 mt, was valued at w75, w2.5 higher. More West African cargoes have been shown for June 1-10 dates and rates saw a small bounce, with sentiment boosted by strong Aframax rates in the Mediterranean, sources said. The Black Sea-Med route, basis 135,000 mt, was valued flat at w85, Chevron was said to have taken a Besiktas vessel on subjects at that level for a CPC-Med stem off June 5-6 loading dates. The tonnage list in the Eastern Mediterranean was sufficient to keep rates stable this week, sources said. VLCC freight rates were still under pressure in the Atlantic and the Hound Point to the Far East route, basis 270,000 mt, was $35,000 lower at $4.4 million lump sum. West Africa was also very soft and many owners were lowering their offers to get their vessels covered in the North Sea, sources said. The Cross-Med route, basis 30,000 mt, was flat at w150. "Market activity is pretty quiet, but the position list is tight so there is not enough pressure to get rates down," a charterer said. The Baltic to UK Continent route, basis 30,000 mt, was firm, assessed w10 higher at w67.5. Litasco was said to have the Baltic Chief on subjects at that level for a stem loading May 27-28. Tonnage was tight for end-May dates in the Baltic Sea and charterers have had to pay up to secure tonnage, sources said.
No follow through today 05.23 (TNK=USD 2.08) to yesterday's 7.7% share price increase is not the best of signs to be optimistic short term. TNK is a long term hope and pray play.
Nice positive notes from TNK!!!!!!!!!!!!!! Overall, we anticipate the tanker market to weaken into 2017 as a result of ongoing OPEC supply cuts and higher tanker fleet growth; however, robust global oil demand growth and changing trading patterns due to OPEC supply cuts are expected to provide support to mid-size tanker demand as more crude oil moves long-haul from the Atlantic basin to Asia. Looking ahead to 2018, we anticipate a renewed market upturn driven by a lack of new tanker ordering, increased scrapping due to regulatory changes, and a more balanced oil market."
"In addition to completing the sale and delivery of our older tonnage and generating strong cash flow from operations during the quarter, we are continuing to focus on further strengthening our balance sheet," commented Mr. Mackay. "We have recently signed a term sheet on a 12-year sale-leaseback financing transaction for four of our modern Suezmax tankers. Once finalized, this transaction is expected to increase our liquidity position by approximately $30 million and strengthen our financial position to manage the current spot market weakness, while maintaining our exposure to what we anticipate will be a renewed tanker market upturn in 2018."
TNK EPS 0,04 reveneu 125milj.
I saw .02 EPS, and like I said off by .02 to .03 like the analyst always are so I consider them right on target!!!!! They beat revenues by 25 million!!!!!!!!!!!!
New Russia - OPEC Deal keeping Tankers more positive with increased distances to Asia and benefit lighterning business.
I wasn't too buy more here at 1.90 or should I wait till after earnings?
The price of TNK @ 1.98 per share is forecasting bunker oil prices today and tomorrow are far too onerous for TNK to afford. Bunker oil prices will cripple the company - right ? Also, new builds today and tomorrow, minus scrappings today and tomorrow, will continue to equal oversupply today, tomorrow and forever. Also, historically low economic growth in the developed world plus superior growth elsewhere still equals low growth today and into the future ... right ?
Now next week earnings come out, I'm not trying to be negative and always trying to be fair, but I can't see TNK beating their given earnings of .05. I'm truly expecting (-.02 - 0.00) base on what their graph showed spot rates were on their sight and looking at the past third and first quarters rates. But again I still think TNK is WAY under valued here and their shares should be at this time priced between $2.94 - $3.88 which is 50% and 2/3 of it's book value which other tankers are valued at now! Any thoughts out there?
TNK declare a dividend for the 1st quarter. Not surprising, but its official.
VHI and SAKL might be on the rise. Do you own due diligence.