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Fly News Breaks for July 6, 2016
TNP, STNG, NNA, ASC
Jul 6, 2016 | 08:04 EDT
Stifel notes that tanker day rates and the stocks of crude and product tankers declined during Q2. However, the firm continues to expect the product tanker market to recover in 2H16 and enter a multi-year upturn. Stifel adds that the crude tanker market "could continue to soften but is unlikely to experience a hard crash." The firm is especially upbeat on the longer term fundamentals of refined product tankers. It keeps Buy ratings on Ardmore Shipping (ASC), Navios Acquisition (NNA),Scorpio Tankers (STNG), and Tsakos Energy (TNP).
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