Tag Archives: tnk-us

Private Network: TNK vs OET, new Portfolio all-time-high

...

Read more as a member.
Log In Register
Posted in Private Nework | Tagged , , , , , , | 3 Comments

Private Network: TNK

...

Read more as a member.
Log In Register
Posted in Private Nework | Tagged , | 18 Comments

TNK Upgraded to BUY: Our Liquidity Concerns Are Finally Mitigated

As we have argued time and again since our initiation in May 2017, Teekay Tankers would need to abolish dividends, seek a debt moratorium and/or do more sale/leasebacks in order to survive the trough without a dilutive equity issuance. In...

Read more as a member.
Log In Register
Posted in oil tankers, shipping | Tagged , | Leave a comment

Oil Tanker Sector Upgraded to BUY: Finally, Time to Tank Up

We upgrade the Oil Tanker sector from HOLD to BUY  So far, we have perfectly timed our recommendations as far back as 2015 as we foresaw the cyclical peak and have since been awaiting the expected mid’18 inflection point.  Given...

Read more as a member.
Log In Register
Posted in Oil services, shipping | Tagged , , , , , , , , , , , | 4 Comments

TNK (SELL, TP 0.5) 4Q17 Review: Liquidity Concerns Remain

Teekay Tankers posted 4Q17 numbers slightly above or forecast and far above consensus. More important was a liquidity position in-line with our expectations, which assuming a successful refinancing of the Aug/18 balloon payment still leaves the company in a very...

Read more as a member.
Log In Register
Posted in oil tankers, shipping | Tagged , , , , , | Leave a comment

2018: Firing on all Cylinders (26-page report)

Never before have we been so optimistic across all sub-segments of the shipping/oil service sectors simultaneously as we now are for 2018. All segments have either just entered the expansionary phase of the business cycle, or will experience the inflection...

Read more as a member.
Log In Register
Posted in _Public, dry bulk, LNG carriers, LPG shipping, Oil services, oil tankers, rig, shipping, VLGC | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Oil Tanker Sector Update (SELL): Disappointing Winter Market

Although we cannot rule out another dead cat bounce, this year’s winter market has been disappointing. As we predicted, VLCC spot rates peaked at $32k/d, and volatility created opportunities for the attentive investor. However, oil tanker spot rates have averaged...

Read more as a member.
Log In Register
Posted in oil tankers, shipping | Tagged , , , , , , , , , , , | 4 Comments

Suezmax Resales 10% Below Current Valuation

Summary Dong-A Spica & Dong-A Capella said to have been sold @ $48 each to two sperate Greek buyers. 10% below our current generic fair value for a similar vessel, which is under revision for downgrade. Consistent with our September...

Read more as a member.
Log In Register
Posted in oil tankers, shipping | Tagged , , , , , , , , , , , | Leave a comment

Oil Tanker Sector Upgraded to HOLD (SELL): Trade on Volatility as Recovery Looms

From being ready to write off the upcoming winter season a very short time ago and looking to mid-2018 for any meaningful recovery in share prices, the recent surge in scrapping has left us with a newfound cautious optimism. Using...

Read more as a member.
Log In Register
Posted in oil tankers, shipping | Tagged , , , , , , , , , , , | 2 Comments

Teekay Tankers (SELL, USD 0.7): Challenging liquidity position ahead of the cyclical trough. TP revised down from 1.2

The company recently announced the acquisition of Tanker Investments in an all-share deal on a NAV-for-NAV basis, leaving TNK’s old shareholders with ~68% of the NewCo. The two companies form a natural fit as TNK owns 11% of TIL and...

Read more as a member.
Log In Register
Posted in oil tankers, shipping | Tagged , , , , , | Leave a comment

Tanker consolidation continues with TNK acquiring TIL

Teekay Tankers today announced the acquisition of Tanker Investments in an all-share deal which values TIL at a 21% premium to last close and which reflects a NAV-for-NAV transaction on our estimates. TIL’s shareholder will end up with 38% of...

Read more as a member.
Log In Register
Posted in oil tankers | Tagged , , , , , , | Leave a comment