Tankers Crude sector
11 covered companies
Dividend yields and the next payout set your own rates →
| Company | Yield | Last DPS | TTM | Next · our model | Company said | Fleet | |
|---|---|---|---|---|---|---|---|
| INSW International Seaways | 11.5% | $5.05/q | $12.61/yr | $7.34 2026Q3 low | 20% booked | 64 MR 28 · Suezmax 13 · VLCC 10 · LR1 8 · Aframax 4 · LR2 1 | trailing twelve months incomplete |
| DHT DHT Holdings | 10.4% | $1.22/q | $2.45/yr | $1.42 2026Q3 low | 100% booked | 23 VLCC 23 | |
| FRO.OL Frontline | 10.3% | $2.61/q | $5.38/yr | $2.23 2026Q3 low | 83% booked | 79 VLCC 42 · Suezmax 19 · Aframax 18 | |
| NAT Nordic American Tankers | 10.3% | $0.27/q | $0.79/yr | $0.30 2026Q3 low | 75% booked | 17 Suezmax 17 | |
| OET.OL Okeanis Eco Tankers | 9.7% | $5.25/q | $8.80/yr | $5.90 2026Q3 low | 48% booked | 18 Suezmax 10 · VLCC 8 | trailing twelve months incomplete |
| CMBTO.OL CMB.TECH | 8.5% | $0.64/q | $1.49/yr | no forecast · cost stack / debt service | 48% booked | 192 CTV 48 · Newcastlemax 40 · Capesize 37 · Kamsarmax 26 · Suezmax 18 · Chemical 8 · Panamax 4 · VLCC 4 · Container 4 · CSOV 3 | |
| TEN Tsakos Energy Navigation | 3.9% | $1.00/half | $2.00/yr | $1.00 2026Q3 medium | 85% booked | 63 Aframax 24 · Suezmax 14 · Panamax LR1 9 · Suezmax Dp2 Shuttle 6 · VLCC 2 · Aframax LR2 2 · Handysize Mr1 2 · MR 2 · Lng Carrier 2 | |
| TNK Teekay Tankers | 1.0% | $0.25/q | $1.00/yr | $0.25 2026Q3 | 54% booked | 35 Aframax 20 · Suezmax 15 | |
| BRUT.OL Bruton Limited | — | $0.025/mo | — | $0.025 2026Q4 | 100% booked | 1 VLCC 1 | |
| HUNT.OL Hunter Group ASA | — | NOK 1.50/q | no recurring dividend NOK3.73 returned | NOK 1.50 2026Q3 | 61% booked | 2 VLCC 2 | |
| PSHG Performance Shipping | — | pending | — | no forecast · cost stack / debt service | 100% booked | 10 Aframax 8 · Suezmax 2 |
Ranked by trailing yield — the only figure comparable across companies, since a dividend in dollars depends on the share price behind it. Dividends declared in NOK or DKK are converted at the Norges Bank rate on the price date and chipped fx. Earnings bridges that do not reconcile to reported net income: INSW (ok), DHT (ok), FRO.OL (ok), NAT (ok), OET.OL (ok), TEN (ok), TNK (ok), BRUT.OL (insufficient data for an earnings bridge), HUNT.OL (ok), PSHG (reported figure missing) — shown once here rather than on every row.
Fleet and cost base
| Company | Fleet | On order | Opex /day | G&A /day | Debt service /day | Cash break-even | Realized TCE | Margin |
|---|---|---|---|---|---|---|---|---|
| BRUT.OL | 1 | — | — | — | — | not on file | $95,000 2026Q3 | — |
| CMBTO.OL | 192 | — | — | — | — | not on file | $126,790 2026Q2 | — |
| DHT | 23 | 2 | $9,118 | $2,745 | $8,937 | $29,026 cost lines | $126,700 2026Q2 | +$97,674 |
| FRO.OL | 79 | 18 | $8,418 | $1,833 | $13,503 | $23,899 issuer printed | $138,721 2026Q2 | +$114,822 |
| HUNT.OL | 2 | — | — | $2 | $0 | $61,037 derived | — | — |
| INSW | 64 | 2 | $11,626 | $3,034 | $2,348 | $25,980 cost lines | $78,345 2026Q2 | +$52,365 |
| NAT | 17 | 2 | $10,038 | $6,138 | $10,846 | $27,023 dividend history | $63,000 2026Q2 | +$35,977 |
| OET.OL | 18 | 6 | $8,031 | $966 | $13,166 | $22,999 cost lines | $181,200 2026Q2 | +$158,201 |
| PSHG | 10 | — | — | — | — | not on file | $32,520 2026Q1 | — |
| TEN | 63 | — | $10,411 | $2,670 | $12,306 | $25,387 derived | $46,100 2026Q2 | +$20,713 |
| TNK | 35 | — | $11,009 | $5,197 | $271 | $16,477 derived | $79,300 2026Q2 | +$62,823 |
| Sector median | 23 n=11 | 2 n=5 | $10,038 n=7 | $2,708 n=8 | $9,892 n=8 | $25,684 n=8 | $87,150 n=10 | $62,823 n=7 |
Cash cost per vessel-day: operating cost, overhead, and interest plus scheduled debt repayment, each divided by the same quarter's vessel days (derived), or the figure the company prints itself (issuer). “Not on file” means an input is missing — hover for which — and the page will not assume it is zero. Margin is the latest realized TCE less the break-even. Fleet age, eco and scrubber share and loan-to-value are not shown: no source on file.
Booked coverage
| Company | Class | Booked | At | Still open | Quarter | Said on |
|---|---|---|---|---|---|---|
| BRUT.OL | VLCC | 100% | $98,618 | 0% | 2026Q4 | 2026-08-06 |
| CMBTO.OL | Container | 100% | $29,664 | 0% | 2026Q3 carried | 2026-09-15 |
| DHT | VLCC | 78% | $225,200 | 22% | 2026Q4 | 2026-10-13 |
| FRO.OL | VLCC | 36% | $89,771 | 64% | 2026Q4 | 2026-08-28 |
| HUNT.OL | VLCC | 61% | $460,000 | 39% | 2026Q3 | 2026-08-27 |
| INSW | Aframax | 25% | $38,501 | 75% | 2026Q4 carried | 2026-08-10 |
| LR2 | 79% | $39,445 | 21% | 2026Q4 carried | 2026-08-10 | |
| MR | 19% | $22,099 | 81% | 2026Q4 carried | 2026-08-10 | |
| Suezmax | 23% | $37,854 | 77% | 2026Q4 carried | 2026-08-10 | |
| VLCC | 30% | $214,216 | 70% | 2026Q4 carried | 2026-08-10 | |
| NAT | Fleet | 75% | $54,000 | 25% | 2026Q3 | 2026-08-27 |
| OET.OL | Suezmax | 42% | $133,000 | 58% | 2026Q3 | 2026-08-04 |
| VLCC | 55% | $179,915 | 45% | 2026Q3 | 2026-09-16 | |
| PSHG | Fleet | 100% | $32,699 | 0% | 2026Q3 carried | 2026-07-31 |
| TEN | Fleet | 85% | $44,280 | 15% | 2026Q3 carried | 2026-09-17 |
| TNK | Aframax | 15% | $37,043 | 85% | 2026Q4 carried | 2026-07-29 |
| Suezmax | 20% | $57,773 | 80% | 2026Q4 carried | 2026-07-29 |
The share of days each company has already fixed and the rate it fixed them at, as it said itself — this quarter where it has spoken, else the quarter just closed.
Valuation
| Company | Price | Market cap | Net income, last 4Q | P/E | Earnings yield | Dividend yield |
|---|---|---|---|---|---|---|
| BRUT.OL | $6.00 2026-10-19 | $372m | — | — | — | — |
| CMBTO.OL | $17.61 2026-10-19 | — | — | — | — | 8.5% |
| DHT | $23.60 2026-10-16 | $3,805m | $473.7m to 2026Q2 | 8.0× | 12.5% | 10.4% |
| FRO.OL | $52.08 2026-10-19 | $11,562m | $1,486.5m to 2026Q2 | 7.8× | 12.8% | 10.3% |
| HUNT.OL | $1.79 2026-10-19 | — | $111.7m to 2026Q2 | — | — | — |
| INSW | $109.99 2026-10-16 | $5,448m | $779.1m to 2026Q2 | 7.0× | 14.3% | 11.5% |
| NAT | $7.66 2026-10-16 | $1,622m | $123.5m to 2026Q2 | 13.1× | 7.6% | 10.3% |
| OET.OL | $90.28 2026-10-19 | $3,525m | $402.2m to 2026Q2 | 8.8× | 11.4% | 9.7% |
| PSHG | $1.53 2026-10-16 | — | $33.6m to 2026Q2 | — | — | — |
| TEN | $51.18 2026-10-16 | $1,542m | — | — | — | 3.9% |
| TNK | $96.82 2026-10-16 | $3,358m | $592.1m to 2026Q2 | 5.7× | 17.5% | 1.0% |
| Sector median | $3,442m n=8 | 7.9× n=6 | 10.0% n=8 |
Market cap is the latest USD close times the latest filed share count. P/E is trailing: the four most recent consecutive reported quarters, shown only when all four are on file and in USD. Price-to-NAV and EV/EBITDA are not shown — vessel values and net debt are not on file, and broker vessel values are licensed.
Rate context
This sector's rate series are licensed: the model uses them, and they are not republished here.
Realized vs benchmark
| Company | Realized fleet TCE | Benchmark (the row's own quarter) | Realization (4Q) | As of |
|---|---|---|---|---|
| BRUT.OL | 95,000 | 298,164 derived | — | 2026Q3 |
| CMBTO.OL | 126,790 VLCC only | — | — | 2026Q2 |
| DHT | 126,700 | 112,678 derived | — | 2026Q2 |
| FRO.OL | 138,721 | 96,421 derived | — | 2026Q2 |
| INSW | 78,345 | 93,794 derived | — | 2026Q2 |
| NAT | 63,000 | 85,047 derived | — | 2026Q2 |
| OET.OL | 181,200 | 97,327 derived | — | 2026Q2 |
| PSHG | 32,520 | 108,643 derived | — | 2026Q1 |
| TEN | 46,100 | 80,408 derived | — | 2026Q2 |
| TNK | 79,300 | 79,313 derived | — | 2026Q2 |
Issuer-printed fleet TCE ÷ benchmark over trailing four quarters. Benchmarks are the printed peer figure where one exists, else derived from Gibson class rates weighted by the company's fleet mix, priced for the same quarter the realized figure covers (5.10: the column no longer reads this month's rate beside a 2026Q2 realized TCE). Index-linked players target >1.0×; spot players track the benchmark.