An uptick in rates following a slow summer translated into gains for US-listed tanker stocks last week and investment bank Jefferies expects more to come.
Tanker stocks gained 7% last week after the Baltic Dirty Tanker Index lifted more than 3% over the same period, helping the 30 shipping stocks under Jefferies' coverage to an overall 3.2% gain.
Tanker listings made up four of the top six spots in weekly performance, said Jefferies lead shipping analyst Randy Giveans.
