Just yesterday, we brought Nordic American Tanker (NAT) to your attention.
All after NAT CEO Herbjørn Hansson told CNBC, “We are making a lot of money at this time, improving our balance sheet tremendously, and I have never seen such a strong market.”
NAT opened at $6.54 yesterday, and is now up to $7.94, as the oil situation worsens. However, it’s not the only oil storage stock exploding. Frontline (FRO) is just beginning to accelerate higher, too with more oil being stored at sea at high rates.
Better, “Analysts at Jefferies just recently upgraded FRO to a Buy rating from a Hold rating. The analyst expects the tanker market to remain strong throughout 2020, resulting in “substantial” dividend payments. Tanker rates are exceeding expectations as Saudi floods the market with cheap oil,” as noted by The Fly.