Deutsche Bank CEO And Morgan Stanley Sees Positive Outlook For Greece Shipping In 2018 – CWEB.Com
Deutsche Bank’s chief executive John Cryan has underlined the positive outlook of the Greek economy, warning however that “the road to normalization will remain long and difficult.”
Finally there is light at the end of the tunnel. The outlook for 2018 remains positive.
The shipping sector will play a big role in the oil and crude business.
Nevertheless, the road to normalization will remain long and difficult. The Greek population’s desire to stay in the Eurozone has remained surprisingly resilient over nearly a decade of crisis, which is a good sign.
In my view it is a continued commitment to the euro and a cooperative attitude towards its European partners that will determine whether Greece can succeed in the long term.
Of course culture, tourism, shipping will continue to be important, but adding on more emphatically and explicitly modern technology would be a real opportunity.
Morgan Stanley says investors can expect the tanker market to recover due to upcoming increases in OPEC production, rising U.S. exports, contango trade in oil which should lead to more trading activity, and higher scrapping due to new IMO regulations.
Fuel oil prices in Rotterdam exceeded $700 a metric ton in mid-2008 and again reached that level in March 2012, data compiled by Bloomberg show.
“The cost of moving things will increase as the vessels will be using more expensive fuels, and there will be fewer of them,” Alan Gelder, Wood Mackenzie’s vice-president of refining, chemicals and oil markets, said in a phone interview.
Analyst research firms are expressing bullish stance on Top Ships Inc. (NASDAQ:TOPS)’s near-term growth potential. They anticipate the TOPS stock will hit $750 on a short term (12 month) basis. Their average price target spell out an upbeat performance – a 241835% and would give TOPS a market capitalization of nearly $30.18B.
The current trading volume of 22.49 sits 101.34% higher than the past 3 month’s readings, indicating near-term traders have been more active toward TOPS than usual of late.
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