Morgan Stanley chopped its rating on the shares of four tanker and LPG carrier stocks as analyst Fotis Giannakoulis expressed fears that the crude tanker sector is in a downturn that could continue for two years.
Giannakoulis, who follows shipping stocks for the bank, downgraded New York-listed crude tanker owners Euronav and DHT Holdings and products tanker specialist Ardmore Shipping to “equal weight” from “overweight”.
