It was another week of outsized performance for US-listed shipping stocks against broader market indices, but tanker entries were no longer able to defy the gravity of loss-making spot rates.
The 30 stocks under coverage of investment bank Jefferies gained an average 4% last week, continuing a hot start to 2021. The S&P 500 dropped 1.5% on the week while the small-cap Russell 2000 index gained 1.5%.
