Shipping stocks, led by tanker names, pile on more gains in September
- Since September 1, shipping stocks have risen by an average of 10%, led by crude tanker and product tanker shares, both up an average of 18%
- Year to date, shipping stocks are up 89%, led by crude tanker shares, up 159%; product tanker shares, up 104%; and gas carrier shares, up 103%
- The Breakwave Tanker Shipping ETF, which buys near-dated TD3C FFAs, is up 94% month to date and a staggering 4,556% year to date
It has been a banner month — and a historic year — for shipping equities. Geopolitical disruptions are negative for the broader stock market but exceptionally positive for shipping names
