DNB Markets has raised its rating on the tanker market suggesting VLCC rates could double in the next two years, leading resale values to break back above $100m by 2020.
Analysts led by Nicolay Dyvik placed a buy rating on the sector and upgraded shares in Frontline, Euronav, DHT Holdings and Gener8 Maritime to the same level.
Frontline’s Oslo traded share shot up by close to one tenth in early trading, while Euronav was up over 3.5%
