ShippingWatch

Frontline and BW LPG drive shipping shares in Oslo

2015 once again brought severe capital market beatings to dry bulk players such as Western Bulk as well as offshore supply carriers, while tank and gas are driving up share rate developments on the Oslo Stock Exchange.

Photo: Oslo Børs

If not for companies such as BW LPG, Avance Gas Holding and John Fredriksen-controlled tanker carrier Frontline, 2015 would have seemed a sad year for shipping shares on the Oslo Stock Exchange.

With preliminary rate increases among the three carriers of 78, 58 and 44 percent, and with one month left in 2015, the total increase of shipping shares will land at around 13 percent. The development is characterized by sharp price increases in oil and gas carriers, while dry bulk shipping companies, experiencing the worst market conditions in 30-40 years and with the benchmark Baltic-Dry index at at its lowest level ever, have taken another beating on the stock exchange this year.

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