Oil shipping stocks take a hit after Bank of America Merrill Lynch slashes its 2011 and 2012...
Oil shipping stocks take a hit after Bank of America Merrill Lynch slashes its 2011 and 2012 spot-rate forecasts due to a weak macro environment. The firm cuts both DHT Holdings (DHT -5.8%) and Teekay Tankers (TNK -8.3%) to underperform (I, II). Other peers trading lower: Alexander & Baldwin (ALEX -2.9%), Seacor (CKH -2.3%), Kirby (KEX -1.6%).
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