Nordic-listed tankers rise as rates hit record levels
FRO•Nordic-listed tanker shares rose as rates reached record levels, with average VLCC earnings around $670 per day and Suezmax rates up 70% week-on-week.
1. Tanker rates climb
Tanker rates strengthened late last week and are now at record levels, Danske Bank Markets analyst Bendik Folden Nyttingnes said. He said the increases directly affect revenue and outlook for companies such as Frontline and Capital Tankers; Frontline rose around 6%, while Hafnia, Capital Tankers and TORM gained around 4% to 6%.
