Concerns around a potential cut in dividend has led JP Morgan to drop its rating on Navios Maritime Acquisition.
Analyst Noah Parquette downgraded the shipowner from overweight to neutral as he predicted a difficult year for crude tankers and the start of an upturn in the products market.
Parquette says Navios Acquisition assembled a fleet of VLCCs and product tankers at the bottom of the cycle and can boast high charter coverage and a long term capital structure.
