Okeanis Eco initiated with a Buy at B. Riley

B. Riley initiated coverage of Okeanis Eco with a Buy rating and $38 price target. The analyst believes the company’s crude tanker fleet, with a concentration of modern, efficient, very large crude carriers and Suezmax vessels, combined with a “high-quality” operating platform and commercial relationships, provides a “solid competitive advantage.” Okeanis should be able to capitalize on a favorable macro environment that is experiencing steady global demand for crude oil with a tightening of global crude tanker fleet capacity, the analyst tells investors in a research note.