Tanker Stocks Drop 8% as Hormuz Traffic Rises

Overview

On Friday, shares of oil and gas shipping companies fell as vessel traffic through the Strait of Hormuz increased, relieving a bottleneck that had previously kept freight rates elevated. The heightened traffic coincided with a broad sell‑off across tanker‑related equities.

Frontline Ltd recorded the steepest decline among the group, sliding 8% (ticker FRO –7.92%). Ardmore Shipping Ltd dropped 9%, while Dorian LPG Ltd and Scorpio Tankers Inc each fell 5%. SFL Corporation Ltd slipped 4% (ticker SFL –2.23%) and Nordic American Tankers Ltd declined 2.7% (ticker NAT –6.77%). Additional ticker movements included MAERSK down 3.37%, SBLK down 4.28%, GNK down 0.47%, STNG down 4.10%, ASC down 5.87%, and LPG down 3.22%.

Dry‑bulk shippers also retreated: Star Bulk Carriers Ltd fell 7.4% and Genco Shipping & Trading Ltd plunged 32%, marking the most severe weekly loss among the dry‑bulk cohort. Although Maersk sold off on the day, it finished the week with overall gains.

The week’s performance represented the sharpest decline for tanker stocks, with multiple tickers posting losses ranging from roughly 4% to 9% and the outlier Genco Shipping falling 32%.