New York-listed shipping stocks will be going for their fourth-consecutive week of gains when trading starts on Monday after climbing an average 9.4% last week.
Randy Giveans, the lead shipping analyst at Jefferies, sees a chance for shipping to make it a month of profits this week, with tankers especially primed for further escalation.
“For the week ahead, it’s hard to bet against tankers, especially as more headlines come out about onshore storage filling up and time charter rates continue to improve,” Giveans told TradeWinds.
