Why Tanker Stocks Sank This Week

Shares of GasLog, Nordic American Tanker, and Navios Maritime all sank this week. Here's why.

Matthew DiLallo
Matthew DiLallo
Jul 12, 2014 at 1:00PM
Energy, Materials, and Utilities

The high seas proved to be rough this week for shipping stocks. Shares of GasLog (NYSE:GLOG), Nordic American Tankers (NYSE:NAT), and Navios Maritime (NYSE:NNA) all sunk to stand among the worst-performing stocks in the energy sector. 

GLOG Price Chart

GLOG Price data by YCharts.

While the plunge in stock price was pretty significant for all three shippers, the news that caused these drops wasn't as deep. Two of the three companies fell after a research firm initiated coverage, while the other stock took a dive on profit-taking by investors. That said, it's worth taking a closer look at the underlying causes of the plunges, which is why I created the slideshow presentation below. It details the causes for the sell-offs and looks at the one stock that might have further to fall.