Transport Sector, China and Asia-focused Research

Charles De Trenck

Equity Bottom-Up

Teekay Tankers Ltd Class A / Equity Bottom-Up

<p>US and global tanker plays such as TNK, NAT, DHT and others named in my notes earlier this year continue to move higher. This is because US Congress is making a real run at lifting the ban on US oil exports, possibly within coming months. This is probably why Icahn has taken a liking to some US oil names recently.</p><p>&nbsp;</p>

US and global tanker plays such as TNK, NAT, DHT and others named in my notes earlier this year continue to move higher. This is because US Congress is making a real run at lifting the ban on US oil exports, possibly within coming months. This is probably why Icahn has taken a liking to some US oil names recently.&nbsp;

Tankers and US oil Exports: The story is continuing to unfold