ShippingWatch

Clarksons Platou: Tanker carriers down 25 pct this year

Crude oil and product tanker vessels are still sailing at solid rates, though lower than in the same period last year. Yet the carriers are still taking a beating on the stock exchanges.

Photo: Euronav

Listed shipping shares have, like other sectors, experienced a tough start to the new year with shares sliding an average 19 percent across the board. Most notable is the dramatic decline noted among tanker carriers, of 23 percent and 27 percent for crude oil and product tankers, respectively, according to a review of share prices and rates performed by Clarksons Platou.

While the reasons behind the massive slide among dry bulk shares - down another 33 percent this year - are clear in lieu of the slowdown in the Chinese economy and a vast oversupply of vessels, the negative development in tanker shares is more difficult to explain in light of a by now solid recovery in both the crude and product tanker segments.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

One alternative fuel may be particularly dangerous

In a new study – which Maersk, Shell, Euronav and MSC Ship Management, among others, are behind – the new alternative fuels are ranked based on how dangerous they are. The industry has to be careful with one of them, in particular.

Further reading

Related articles

Latest news

See all jobs