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11 Best Oil Tanker Stocks To Buy Now - Insider Monkey


11 Best Oil Tanker Stocks To Buy Now
The boom of the oil tanker industry is undeniable, as the world has been heavily dependent on the steady flow of oil transfer from one point to another. The Covid-19 pandemic resulted in upsetting effects on the supply chain of oil which experienced an unprecedented decline in demand. According to the International Energy Agency (EIA), the average barrels of oil consumed per day decreased to an upsetting 30 million during the pandemic as compared to the usual consumption of 65-70 million barrels per day. The decline in demand forced the reduction of oil production because of the unavailability of land-based storage areas for oil. However, oil producers were partially able to keep producing above the demand as they were able to use oil tankers as an alternative for oil storage. So, the oil tanker industry actually benefitted from the pandemic despite the huge collapse in demand. In a separate article, Business Standard noted that an increase ....

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Nordic American Tankers Limited (NYSE:NAT), TOP Ships Inc. (NASDAQ:TOPS) - 3 Shipping Stocks Trading Higher Today


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The shares of several shipping companies are trading higher on Friday amid a spike in overseas shipping stocks. There is no company-specific news.
TOPS Ships (NASDAQ: TOPS) owns tanker vessels throughout the world. The company focuses on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. It generates revenue from the Time charter agreements.
TOPS Ships shares traded up 16.75% to $2.09. The stock has a 52-week high of $19.12 and a 52-week low of 95 cents.
Nordic American Tanker (NYSE: NAT) owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. ....

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