Analysts at the bank redrew their numbers amid the belief crude tanker tonne mile demand will rise by 4% over the next couple of years.
Analysts Nicolay Dyvik, Oyvind Berle and Petter Haugen are now charting for VLCC spot rates of $62,000 per day in 2015, up from $43,000 per day previously.
Next year the researchers believe the same vessels will command $55,000 per day, $15,000 per day more than they had chartered before.
“We have a positive view on the sector, underpinned by changing trading patterns, with Asian tonne-mile absorbing the US shortfall, OPEC releasing its spare capacity, growth in and reallocation of refining capacity, together with our view that US crude exports will continue to accelerate,” the trio said in a report.
They now expect suezmaxes to make $40,000 per day this year and $37,000 per day in 2016.
“We also expect a re-valuation of the crude tanker stocks from a broad and significant consensus upgrade as well as the ongoing shareholder rotation from momentum and growth investors to the larger income and long-only investors focusing on cash flow and yield,” Dyvik, Berle and Haugen said.
