If New York-listed tanker owners were looking to earnings season to be the spark that reignites investor interest in their shares, any optimism appears to be misplaced.
With companies so far unveiling dreary second-quarter numbers and even weaker guidance for the current three months, investors have baulked and share prices wilted.
Tanker names under the coverage of US investment bank Jefferies fell an average of 7% last week, with lead shipping analyst Randy Giveans conceding that the numbers had "disappointed".
