Wells Fargo cut rate estimates for dirty and clean tankers due to the seasonal slowdown, ongoing Opec cuts, high oil inventories and looming refinery maintenance season.
Analyst Michael Webber also lowered earnings estimates for several tanker owners for this year and next, joining others who have reined in their outlook for the sector.
Dirty tankers earnings are expected to between 5% and 7% lower than Webber's previous estimates.
