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Fly News Breaks for September 27, 2018
NAT
Sep 27, 2018 | 07:29 EDT
BTIG analyst Gregory Lewis initiated Nordic American Tankers with a Neutral rating as part of his broader research note on oil tankers. The analyst cites the company's strategy of paying out its cash flows as dividend, saying that he expects Suezmax tanker rates to remain "well below mid-cycle over the next year", which should contain its payouts. Lewis adds that while Suezmax tanker rates, mired in one of their worst years ever, should rise about 50% next year, the $18K rate estimate remains about 40% below mid-cycle rate.
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