POLL: Which Is the Hottest Tanker Stock?
NEW YORK (TheStreet) -- According to many market pros, oil tanker equities have defied logic. Rates remain terrible and, just as with the dry-bulk side of the business, supply from newbuildings threatens to overwhelm demand.
And, yet, since the end of summer, buying action in these stocks has been fairly intense. Teekay(TK Quote), for instance, has gained 44% over the last four weeks, a big chunk of which came just since the beginning of October. Meanwhile, Nordic American Tanker(NAT Quote), Frontline(FRO Quote) and Overseas Shipholding(OSG Quote) have also seen gains during the first week of October. One shipping-market watcher believes buyers of tanker stocks are making long-term bets based on what they see as a market bottom in wet-trade shipping rates, apparently willing to ride out any potential rocky period. Amid a confused -- and confusing -- market, what publicly traded tanker company will see its shares outperform the rest of the sector? Feel free to explain your pick in a comment.- Loading Comments...
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