Tanker equities continued their steady upswing Monday amid rising rates, led by International Seaways' leap following its exit from an LNG venture.
Lois Zabrocky-led INSW's shares jumped almost 15% to $23.83 after saying it sold a 49.9% stake in the venture comprised of four LNG tankers to Qatari gas carrier Nakilat for $123m.
"The unlocking of value by selling non-core assets for above market expectations helps a lot," Jefferies analyst Randy Giveans told TradeWinds.
