An investor sell-off of tanker stocks that started in Europe on reduced earnings outlooks spread to New York on Wednesday, but on a day when most other shipping stocks and the broader market also lost ground.
Losses for the tanker names were still more pronounced, with Irish product tanker owner Ardmore Shipping shedding nearly 7% of its share value, while Teekay Tankers and International Seaways both dropped more than 6%.
