Analyst Omar Nokta lowered the Tor Olav Troim-led company from buy to hold yesterday, citing increased uncertainty ahead.
Nokta explained the $44,000 daily available for tri-fuel, diesel-electric LNG carriers in the spot market compares to a $150,000 per day peak in 2012 and marks a five-year low for the sector.
“Spot LNG ships are typically seeing weeks in between cargo voyages as the spot market continues to be defined as ‘choppy’,” Nokta wrote.
