Transport Sector, China and Asia-focused Research

Charles De Trenck

Equity Bottom-Up

Nordic American Tankers / Equity Bottom-Up

The tanker sector experienced a substantial sell-off on 17 December as a result of three Teekay group companies slashing their distributions. Teekay Offshore (TOO) and Teekay LNG (TGP) slashed their distrubutions by 80%, while the parent Teekay (TK) slashed its distribution by 90%. Ironically, the Tanker arm (the one we follow more closely), had raised its distribution guidance only a few days ago! TK took the biggest share hit with share price falling some 59%, while TGP and TOO fell 51% and 52%, respectively. TNK shares fell some 9% in sympathy, while other tanker shares took hits as well.

The tanker sector experienced a substantial sell-off on 17 December as a result of three Teekay group companies slashing their distributions. Teekay Offshore (TOO) and Teekay LNG (TGP) slashed their distrubutions by 80%, while the parent Teekay (TK) slashed its distribution by 90%. Ironically, the Tanker arm (the one we follow more closely), had raised its distribution guidance only a few days ago! TK took the biggest share hit with share price falling some 59%, while TGP and TOO fell 51% and 52%, respectively. TNK shares fell some 9% in sympathy, while other tanker shares took hits as well.

Tanker's Hit Broadside by Teekay Distrution Cuts

Teekay Tankers Ltd Class A / Equity Bottom-Up

US and global tanker plays such as TNK, NAT, DHT and others named in my notes earlier this year continue to move higher. This is because US Congress is making a real run at lifting the ban on US oil exports, possibly within coming months. This is probably why Icahn has taken a liking to some US oil names recently.&nbsp;

US and global tanker plays such as TNK, NAT, DHT and others named in my notes earlier this year continue to move higher. This is because US Congress is making a real run at lifting the ban on US oil exports, possibly within coming months. This is probably why Icahn has taken a liking to some US oil names recently.&nbsp;

Tankers and US oil Exports: The story is continuing to unfold

United States

Tsakos Energy Navigation Ltd. owns and operates a fleet of tankers.  The fleet includes VLCC, suezmax, aframax, panamax, and handymax tankers suitable for transporting crude oil, refined petroleum products, and other liquids.  The Company's technical manager is Tsakos Columbia ShipManagement.

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Tsakos Energy Navigation Ltd (TNP US)

Tanker's Hit Broadside by Teekay Distrution Cuts

The tanker sector experienced a substantial sell-off on 17 December as a result of three Teekay group companies slashing their distributions....

Charles De Trenck

Tankers and US oil Exports: The story is continuing to unfold

US and global tanker plays such as TNK, NAT, DHT and others named in my notes earlier this year continue to move higher. This is because US...

Charles De Trenck

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