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Tanker shares plunge further in 2016

The first five months of this year have brought massive price plunges for the major listed tanker shares, and the shipowners have not successfully convinced investors that the boom is sustainable in the long run.

Photo: Euronav

The price development of the trend-setting tanker carriers on the New York Stock Exchange illustrated in the first five months of 2016 how the investor interest for their businesses has slowly faded.

And the current development in the international tanker market for both crude oil and oil products does not seem to validate the argument from shipowners at the moment that the boom will be long-lasting and sustainable for years to come.

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