Fire sale of tanker shares in brutal shipping market
Investors are unloading tanker shares on a large scale, reports Deutsche Bank. Clarksons Platou notes that the recent share slides are headed by carriers such as Scorpio Tankers, Navios Maritime Acquisition, Teekay Tankers and American Shipping.
BY OLE ANDERSEN
In spite of the best tanker market in years, with the major VLCC crude tankers sailing at rates of more than USD 100,000 per day, investors appear lukewarm. They have in the past week unloaded shares in tanker carriers on a large scale and to a far greater degree than in the rest of the tanker market.
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