The operator’s New York-quoted stock took the title of “Best Performer” on the TradeWinds Shipping Index as it rose 28% to $2.88.
Many believe the three-day winning streak is related to the declining cost of oil, which has triggered a race to stockpile crude in China and other regions.
Industry observers note VLCCs trading the spot market are gaining traction as well, which bodes well for owners with exposure to this corner of the tanker sector.
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