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I am an executive at a global tanker company, but have a background in the equity markets. I do a lot of industry analysis on the tanker industry and the publicly listed tanker companies, FRO, NAT, GMR, DHT, ONAV, CCCP, OSG, TK, TNK
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The Tanker Insider
  • First Quarter Tanker Earnings 3 comments
    Apr 1, 2010 5:03 AM | about stocks: FRO, OSGIQ, TNP, TK, TNK, NAT, GMRRQ

    Now that the First Quarter is over, we can look at what shipping rates are and what analyst expectations are in the industry...

    VLCCs averaged around $55,000 p/d in the first quarter, which is about $5k more than expectations of most analysts. This is good for FRO as you will probably see their earnings revised upwards this quarter.  Also good for OSG, and TNP.
    Suezmaxes averaged around $38,000 p/d in the first quarter, which is about $8k more than the expectations of most analysts. This is great for NAT, and good for FRO, GMR, TNP and TNK. 

    Aframaxes averaged around $19,100 p/d in the first quarter, which is about exactly in-line with analyst estimates. This is neutral for most Afra players, including TNP, OSG, TK, TNK, and GMR. 

    Disclosure: No holdings
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Comments (3)
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  • Author’s reply » One comment, that should read earnings estimates should be revised, not earnings.
    1 Apr 2010, 06:44 AM Reply Like
  • Thanks for the synopsis. I make it a habit of trying to check the intertanko IKF page most days, but an average is nice to see.
    1 Apr 2010, 06:29 PM Reply Like
  • Thanks for the input. More insights would be appreciated. Check out my shipping earnings preview for a summary of the dates and estimates for major shipping companies. Please make more insightful posts like this, thanks.
    6 Apr 2010, 11:32 AM Reply Like
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