BofA Cuts Oil Tankers, OMI to Neutral

Friday, October 20, 2006
According to Reuters, Bank of America Securities cut its near-term industry outlook on oil tankers to neutral from overweight, citing a reduction in crude throughput by refiners to ease a global refined product glut. Shipping rates could underperform fourth-quarter expectations by 20 percent, the brokerage added. On OMI, the brokerage said it does not expect the company's value to materially exceed current levels before year end. Shares of OMI, the owner and operator of crude oil tankers, have increased over 25 percent in value this year to date, outperforming its peers by over 20 percent and the S&P 500 by 18 percent, it added.
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Iraqi Kurdistan Oil Shipments Reach 8.8m Barrels

Iraqi Kurdistan has shipped 8.8 million barrels of oil from the Turkish port of Ceyhan since May, Turkish Energy Minister Taner Yildiz said, as the autonomous region

Stena, Sonangol Launch Training Facility in Angola

The Centro De Formação Maritima De Angola (CFMA) was officially launched on August 27 by top management from Sonangol, the Angolan public sector energy company and the Stena Group of Sweden.

Iraq to Appeal US Court Decision on Kurdish Oil

The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1000 sec (10 req/sec)