schreef:
Since the summer of 2014, the price of oil has dropped significantly. Many investors think this is bad news for the energy sector. We are not in the energy sector - a distinction that sometimes appears lost for investors who are looking at dozens or even hundreds of companies.
Investors must ask themselves "Why is the oil price low?" The simple answer is that there is too much oil. When there is too much oil, it must be shipped or stored, creating demand for oil tankers which is one key to understanding the strong results achieved in 2015.
We believe that some of the concern shown by investors revolves around what happens if the price of oil rebounds. A production cut seems unlikely at this point, and the driver behind an oil price recovery will be the growth in demand that we are seeing. This in turn keeps tanker demand high. It is true that the number of ships is expected to increase over the next couple of years. There is still plenty of work for tankers and the entry of new vessels into the fleet does not alter our general belief that the fundamentals remain positive going forward.
www.nat.bm/IR/press_releases/2000565....