Analyst Cuts Oil Tankers

Thursday, February 12, 2009

According to an analyst speaking with the Associated Press for a Feb. 9 report, a flood of new crude oil tankers being delivered this year will bring down vessel rates in the spot market and he has cut his ratings on two companies. Jefferies & Co. analyst Douglas Mavrinac downgraded Overseas Shipholding Group to "Underperform" from "Hold" and lowered Teekay Corp. to "Hold" from "Buy," noting both companies have a large portion of their fleet operating in the spot market, where rates are expected to slip.

(Source: Associated Press)

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Refiners Seek Jones Act Workarounds as Crude Export Debate Heats Up

As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that

Lukoil Shipped Canadian Crude from Houston

Russian oil major Lukoil has emerged as one of the first companies to buy Canadian crude re-exported from a U.S. port, shipping one cargo last month to its refinery in Augusta,

Scorpio Tankers on Major Fleet Expansion

Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached an agreement with an unrelated third party to purchase an MR product tanker

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.0914 sec (11 req/sec)