Crude tanker rates up double digits but stocks waylaid by macro fears
- VLCC, suezmax and aframax rates are all strong — for different reasons — with VLCC rates viewed as the most resilient
- Clarksons puts current VLCC spot rates at $58,900 per day, up 21% month on month. Analysts point to a higher-than-usual number of Middle East loadings
- Tanker stock investors are preoccupied with weak year-over-year comps and recession concerns driven by US trade policy
Today’s crude tanker rates and owner balance sheets would normally translate into decent stock valuations. But there’s nothing normal about the current environment. Investors are preoccupied with the trade war and tanker stocks are priced at hefty discounts.
