rss icon Subscribe
desktop mobile

Nordic American Tankers: Near term challenges remain - CS

File Image (CREDIT: AdobeStock / (c) Carabay)

Posted by Joseph Keefe

Oil tanker company's shares down 1.8 pct at $2.15 premarket.
Credit Suisse halves PT to $2, says near-term challenges remain. "On the heels of the second-worst year for tankers in 20 years, this seems to be the growing consensus," said Credit Suisse. While strong oil demand should help move market balance, CS says another year of above-average fleet growth, OPEC holding back export volumes will keep market depressed in 2018
1 of 9 brokerages rate the stock "buy", 5 "hold" and 3 "sell" or lower; Median PT $2.50. The stock plunged 70 pct in 2017, and has declined 11 pct this year
Reporting by Amy Caren Daniel

Feb 13, 2018

 

Contracts

Chinese Steel Mills Chase Iron Ore Contracts with Brazil's Vale

© Fotosenmeer / Adobe Stock

Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron

MAN Propulsion for 7 Russian Factory Trawlers

(Image: MAN Energy Solutions)

MAN Energy Solutions said it has won the contract to supply propulsion systems for seven new

Austal Awarded Two More Independence-variant LCS

(U.S. Navy photo courtesy of Austal USA)

The U.S. Navy awarded a contract modification to shipbuilder Austal USA to build two additional

Energy

Chevron, ExxonMobil, Occidental Petroleum Join Oil and Gas Climate Initiative

Image: Oil and Gas Climate Initiative

The Oil and Gas Climate Initiative (OGCI) announced three new member companies that together

Goliat Oilfield Shut for Maintenance

(Photo: Eni)

Oil production at Eni's Arctic Goliat field off the coast of Norway was shut on Monday for planned

Iran Floats Surplus Oil as Demand Falls Ahead of US Sanctions

© Kees Smits / MarineTraffic.com

Two tankers carrying Iranian condensate, a type of ultra-light oil, have been floating off the

Maritime Apps