Mon Mar 29, 2010 4:02pm BST
Shares in Denmark-based shipping group Torm (TORM.CO) falls as much as 2.5 percent, the leading faller in Copenhagen's top-20 index , with Jyske Bank attributing the weakness to a dip in product tanker rates over the past few weeks to a spot price of about $10,000 a day.
"There's nothing suggesting that rates would rise in spring or summer as new tonnage is being delivered at a pace that exceeds demand growth," Jyske says in a research note.
Jyske rates Torm as "reduce", saying the stock's valuation is not attractive and that no essential share price triggers are in sight in the short term.
Reuters Messaging rm://peter.starck.reuters.com@reuters.net
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