Surprise bounce for shipping stocks amid Trump market carnage
- Multiple bulk commodity shipping stocks rose by low double digits or high single digits on Monday
- Crude tankers appear poised to gain from higher Saudi Arabian exports in the near term, although global recession risks weigh forward outlook
- Tariff effects on trade flows and tonne-miles remain uncertain for tanker, bulker and gas carrier trades
Donald Trump is doubling down on his tariff plan, undeterred by the historic declines in the stock market since April 2. One might expect shipping equities to head in only one direction — down — but certain names are bucking the trend and rising, at least temporarily