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 October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Creole Spirit Sets Sail for Sea Trials

Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Maritime Security Maritime Standards Naval Architecture Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1248 sec (8 req/sec)