Several shipping names in the tanker space have been downgraded today amid unpredictability around fallen crude prices and events affecting markets worldwide.
Wells Fargo Securities analyst Michael Webber has lowered Frontline, DHT Holdings, Navigator Holdings, Capital Product Partners, Teekay Offshore Partners and Kirby Corp to market perform from outperform.
"The deteriorating dynamics around equity/commodity volatility, slowing global growth, trade/tariffs, and (somehow) a less predictable geopolitical backdrop punctuated the end of 2018," he wrote in a note to clients.
