Seeking Alpha

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%).
Comments (2)
  • But, but, but, the BDI !!!
    28 Sep 2011, 01:57 PM Reply Like
  • Most shipping market caps are now well under the value of scrapping 2 to 4 ships. I would expect some merger activity to start in the near future, though perhaps that's what the banks would like to see in this sector.
    28 Sep 2011, 02:23 PM Reply Like
DJIA (DIA) S&P 500 (SPY)