Tanker stocks have cooled off after last week's rally amid declining rates and a sector-wide downgrade.
Many tanker owners saw gains last week, with the 10 covered by Jefferies' Randy Giveans, rising an average of 6%.
But on Tuesday, the Baltic Dirty Tanker Index fell 45 points to 653, continuing its five-day slide from 733 on 27 May as oil prices — which investors have appeared to tie to weaker tanker sentiment — rose 4% to $36.85
