Tanker asset values should not start to see a sustained recovery until six to 12 months from now, according to Wells Fargo Securities analyst Michael Webber.
He says that net asset values across the sector remain near 15-year lows, and suggests the turning point will be the "ultimately the go signal for a recovery in the equities".
"We're not there yet, but continue to think tanker stocks with balance sheet runway and solid stewards of capital at the helm look interesting for those with a time horizon measured in years," he said in notes today.
