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Product tanker soars on big slide in US gasoline reserves

Deutsche Bank points to significant upside in the oil product tanker market over the next 12 months. This would be good news for IPO candidates such as Torm and Hafnia Tankers.

A massive slide in US oil product stockpiles has in recent weeks sent product tanker rates skyward across most of the key trade routes. While this is good news for the product tanker carriers right now, following a weak 2016, Deutsche Bank displays growing confidence in a more sustainable recovery and a significant share upside for investors in several carriers for the next 12 months.

Regardless of the fact that the current rates are somewhat bland, just as asset values remain weak, corresponding to an average decrease in tanker shares of 16 percent during the past year, several product tanker carriers have trimmed their balances and, as such, are prepared for a recovery and a return to growth.

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