A top Wall Street analyst has questioned why investors were dumping tanker shipping stocks amid a wider drop in the market after Donald Trump’s latest tariff spat with China.
New York-listed Teekay Tankers was sold off heavily yesterday as news about Trump’s latest change on $300bn worth of Chinese goods hit the headlines.
The geopolitical issues overpowered a positive quarterly performance from the shipowner, which was joined by peers including Ardmore Shipping, Frontline and Euronav in seeing its stock fall.
