Tankers to benefit from more energy exports, Jefferies says


While refiner stocks are tumbling on fear that margins will be hurt as the U.S. begins to allow U.S. condensate exports, the sensational headline speculating on the end of the oil export ban “is a long way from giving two companies export permissions to full U.S. crude exports.”

However, Jefferies analysts say the news is a near-term positive for tanker companies that ship oil, such as Frontline (FRO -4.6%) and Nordic American Tanker (NAT +1.3%).

Even while condensate export volumes are likely to be limited, any increase in export volumes should have a net positive impact on the crude oil tanker market, the firm says, with any heavy condensate volumes exported out of the U.S. to be carried out on either Aframax crude oil tankers and/or Panamax crude oil tankers.

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Comments (5)
  • stockpicker8
    , contributor
    Comments (36) | Send Message
     
    clearly the shipping sector has finally picked up. it is about time. it has been a long and painful wait!
    25 Jun 2014, 12:34 PM Reply Like
  • jbassbia
    , contributor
    Comments (394) | Send Message
     
    The BDI ( Baltic Index ) remains below 1000 but this is a good news story for tankers - fill story at http://www.amp2012.com June 25
    25 Jun 2014, 01:35 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11168) | Send Message
     
    (FRO) has been an utter disaster.

     

    (SFL) is a great holding, however.
    25 Jun 2014, 03:30 PM Reply Like
  • williebid
    , contributor
    Comments (14) | Send Message
     
    how can I find a listing of day rates?
    27 Jun 2014, 06:35 PM Reply Like
  • stockpicker8
    , contributor
    Comments (36) | Send Message
     
    click on the 'weekly rates' link at the following link.

     

    http://bit.ly/1nRFbj9
    28 Jun 2014, 07:52 AM Reply Like
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