US-listed shipowners have moved quickly to take advantage of stock-price falls to buy back their own shares, according to Clarksons Securities.
Analysts Frode Morkedal, Even Kolsgaard and Bendik Folden Nyttingnes said companies such as International Seaways and Scorpio Tankers have bought their own trading dip at prices far below net asset value, generating value.
The “immediately accretive” deals have come amid recent valuation declines and more conservative equity pricing, they added.
