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home / news releases / TNK - DHT Holdings: Great Company Poor Outlook For Oil Tankers

TNK - DHT Holdings: Great Company Poor Outlook For Oil Tankers

Teekay Tankers Ltd.
  • Crude oil tanker stocks have been stuck for nearly a decade due to chronically low oil freight rates.
  • Last year saw a massive spike in rates due to a one-off need for floating storage which has now passed.
  • Oil freight rates are modestly low today as low oil production and demand have made for poor trade volumes.
  • Crude prices are rising due to low production, not strong demand, so oil prices today should not be taken as a bullish factor for tankers.
  • DHT Holdings has arguably the best fundamentals compared to peers, but we'll need to see oil demand return to normal before it is a great bet.

For further details see:

DHT Holdings: Great Company, Poor Outlook For Oil Tankers
Stock Information
Company Name: Teekay Tankers Ltd.
Stock Symbol: TNK
Market: NYSE
Website: teekay.com
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