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.

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