Oil Tanker Stocks To Watch As Shipping Rates Soar

Oil Tanker Stocks To Watch As Shipping Rates Soar

Market experts consider rising inflation and the Ukraine crisis as the two biggest market risks this year. Runaway inflation has been corroding asset values, limiting buying power and eating away at corporate margins, while Russia's invasion of Ukraine has disrupted key energy and commodity supply chains causing massive price spikes. Consequently, the Dow Jones Transportation Average has slumped 12% since the beginning of the year on fears of waning domestic demand.

But the oil tanker business is proving to be a different beast.

After a bleak 18-month period, the tanker market is enjoying a bumper year thanks to a limited supply of fresh tonnage as well as an increase in oil demand.