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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.

Photo: Euronav

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.

Share prices of listed tanker carriers have declined across the board in the past month, some of them significantly, and the sliding share prices can not be exclusively attributed to the sense of crisis currently characterizing the international stock exchanges, especially China. But the first week of 2016 has been brutal for shipping shares, notes Deutsche Bank.

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