It comes at a time when the tanker market has gone from “good” to “really good” and owners are recording healthy profit.
Doug Mavrinac, Jefferies shipping analyst, says VLCC and suezmax spot rates have strengthened even more than expected due to OPEC increasing production levels.
He explains the 31.5 million barrels per day average produced by OPEC in the second quarter is the highest figure seen in nearly three years.
In a pre-second quarter results season update Mavrinac raised his VLCC rates view for the quarter from $40,000 daily to $45,000 per day.
With his third quarter numbers lifted by the same sum, his 2015 VLCC forecast now sits at $50,000 per day.
His suezmax projection for the second quarter is up to $35,000 daily from $32,000 per day. His full year 2015 forecast for the tankers now sits at $37,500 per day, against the $36,000 per day previously.
The redrawn numbers mean DHT Holdings is heading for a profit of $0.78 per share this year, Mavrinac says, a dime up on his earlier figure.
Tsakos Energy Navigation is set for a profit of $1.66 per share, against the $1.52 per share forecast earlier.
Nordic American Tankers is now set for a 2015 bottom line of $1.26 per share by Mavrinac’s figures, up from $1.13 per share.
