July 5, 2005

Deutsche Bank analyst Jordan Alliger initiates coverage on the oil tanker industry

Deutsche Bank Securities Inc. today announced that analyst Jordan Alliger has initiated coverage on three stocks in the oil tanker industry: OMI  Corporation (NYSE: OMM), Teekay Shipping Corp (NYSE: TK), and General Maritime Corp (NYSE: GMR).

Alliger predicts that fundamentals should stay solid for 2005, but that the peak is near. "2005 will be another solid year for the oil tanker industry, as the tension between supply and demand stays tight," he said. "However, there is a high probability that at some point over the next 24-30 months the industry will see not just a fall-off in rates, but a significant downdraft."

Deutsche Bank was recently ranked the top bulge-bracket firm for equities research by an Investars survey of asset managers, research directors, analysts, individual investors and financial institutions. The rankings measured one-year performance of Deutsche Bank's stock picks vs. the S&P 500.

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Renee Calabro
Media Relations

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