It wasn't much of a loss, but it would have been a gain on the week if not for a strategic tack by one major tanker owner.
The 30 shipping stocks under coverage of investment bank Jefferies logged a 0.3% decrease in value last week, but could have seen a 0.2% gain absent the performance of DHT Holdings.
The VLCC owner dropped 15% on the week after management elected to redeem all $125m in convertible notes effective 20 August, explained Jefferies' lead shipping analyst Randy Giveans.
