Clarksons Platou Securities has forecast further gains in tanker stock prices as listed players are set to enjoy healthy cash flows and stronger balance sheets amid firm freight markets.
Many listed tanker firms have seen rallying share prices since early March, with vessel earnings boosted by demand for floating storage for contango play and logistics reasons.
Even when taking into consideration weaker freight rates after this quarter, Clarksons Platou suggested tanker players would be able to pay down debts and fork out dividends with expanding cash piles — thus making them good investment targets.
