|Bid||3.840 x 3200|
|Ask||3.850 x 8900|
|Day's Range||3.770 - 3.860|
|52 Week Range||3.270 - 4.950|
|PE Ratio (TTM)||76.70|
|Earnings Date||May 7, 2018 - May 11, 2018|
|Forward Dividend & Yield||0.08 (2.13%)|
|1y Target Est||5.05|
According to Weber’s weekly report, VLCC demand was slower than expected last week, creating a fresh surplus of availability. The demand in the Middle East market declined 12% week-over-week to 22 fixtures. The VLCC fixtures in the West Africa market remained unchanged at five.
In the previous part, we discussed Wall Street analysts’ recommendations for the two top performing crude tanker stocks on a YTD (year-to-date) basis—DHT Holdings (DHT) and Frontline (FRO). In this part, we’ll discuss analysts’ recommendations for the other top crude tanker stocks on a YTD basis as of April 5, 2018.
According to the Weber weekly tanker report, in week 14, the demand for VLCCs (very large crude carriers) fell from recent highs due to weak demand in the three key markets of the Middle East, West Africa, and the Americas. The turnaround time at Chinese ports fell, which added to the surplus of vessels. The surplus has put additional negative pressure on tanker rates.
When assessing the crude tanker industry, it’s important to look at the BDTI (Baltic Dirty Tanker Index). In week 14 of 2018, which ended on April 6, the BDTI dropped from 661 to 643. The index shows the direction that crude tanker rates are heading.
In this part, we’ll discuss Wall Street analysts’ target prices for the top two crude tanker stocks with the best returns YTD (year-to-date) as of April 5, 2018. Analysts expect both of these companies to have positive returns in the next 12 months.
Global shipping should set a goal of halving greenhouse gas emissions by 2050, Norway's government and shipowners' association said on Thursday before talks by the International Maritime Organization (IMO) in London next week. Norway's fleet is worth about $45 billion, the fifth most valuable in the world behind Japan, Greece, China and the United States. Norway's shipping includes offshore, gas, chemicals, car vessels, dry bulk, crude, crude products and containers.
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