Fastest-Growing Oil Tanker Stocks

$International Seaways(INSW.US)$ is a tanker company that provides energy transportation services for crude oil and petroleum products. Through joint ventures, the company also holds ownership interests in floating storage and offloading service vessels. In June 2021, the company completed its merger with Diamond S Shipping Inc., creating one of the biggest U.S.-listed diversified tanker companies. On May 5, 2022, the company announced a first quarter net loss of $13.0 million compared to a net loss of $13.4 million in the same quarter a year ago. Consolidated revenues for the first quarter were $98.0 million, compared to $45.2 million in the same quarter a year earlier. The company said that the first quarter reflected a dramatic increase in revenue days as a result of the Diamond S Shipping merger, which were mostly offset by higher operating expenses partly due to the combination.

$SFL Corp(SFL.US)$ is a Bermuda-based company that owns and operates a fleet of crude oil tankers, bulk and ore vessels, dry bulk carriers, container ships, and jack up oil rigs. On May 12, the company reported results for Q1 2022 ending March 31. The company posted net income of $47.0 million on consolidated operating revenues of $152.4 million.