Surge in COVID-19 cases may curtail the rally in crude tanker stocks
Crude tanker shipping stocks have been trending upwards from the start of February, which has led to an 18.2% YTD gain in the Drewrycrude tanker index. The index comprehensively outperformed the three key US market indices – while Dow Jones Industrial Average
(DJIA) and S&P 500 gained 6.6% and 4.1% respectively over the same period, Nasdaq Composite (0.7%) remained stable as the gains in
the first half of February were offset by the steady decline in the latter half of the month with the index remaining range-bound, thereafter.
All constituent stocks of the Drewry crude tanker index registered double-digit gains since the beginning of the year irrespective of their
fleet composition and chartering mix. Teekay Tankers (TNK) surged 30.8% followed by Tsakos Energy Navigation (TNP) with a gain of
24.5% and Frontline (FRO) with a gain of 22.7%. DHT Holdings (DHT) improved by 16.6% while Nordic American Tankers (NAT) increased
by 14.6% and Euronav (EURN) registered a gain of 12.9%
Drewry, since 1970, has been providing research and advisory services on the global Maritime and Shipping industries and has established itself as a firm with long history of credibility and expertise on various aspects of the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies operating in the maritime industry. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER led by Rahul Kapoor and his team, offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise and commercial awareness, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.
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