US-listed tanker owners are taking the gains while they can get them as investors continue to pile into the stocks on short-term to medium-term dynamics tied to oil prices and the floating storage contango curve.
The tanker group soared to one of its strongest days of 2020 on Monday, with Teekay Tankers up 21%, Nordic American Tankers rising 19%, Diamond S Shipping gaining 16%, Frontline climbing 13% and Tsakos Energy Navigation adding 11%.
