Tanker earnings move with charter rates, the fee shipowners charge to haul cargo at sea. Spot market exposure amplifies that swing, while time charters lock in a fixed daily rate.
Tanker companies own and operate large vessels that ship crude oil and refined petroleum products – fuel, jet fuel and gasoline – from refineries and loading terminals to ports around the world. The 10 stocks on this list include crude oil specialists like Frontline ($FRO) and DHT Holdings ($DHT), product tanker operators focused on moving refined fuels, and BW LPG ($BWLP), which carries liquefied petroleum gas rather than oil.
How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.
Company Name | Ticker | Share Price | Market Cap | In Watchlists |
|---|---|---|---|---|
Hafnia | $9.23 | $44.29B | 48 | |
BW LPG | $24.44 | $37.43B | 30 | |
Torm | $34.63 | $23.76B | 140 | |
Frontline | $47.92 | $10.67B | 736 | |
CMB.TECH | $19.34 | $5.40B | 275 | |
International Seaways | $103.95 | $5.15B | 327 | |
Scorpio Tankers | $82.33 | $4.12B | 511 | |
DHT Holdings | $21.39 | $3.45B | 474 | |
Teekay Tankers | $95.60 | $3.32B | 265 | |
Okeanis Eco Tankers | $77.54 | $3.08B | 34 |
Past performance is not a reliable indicator of future performance.
Source: Stake market data. Figures in US$. Data updated as of 22 September 2026.
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1. Hafnia ($HAFN)
Hafnia (HAFN) share price over the last year: started at US$6.18, ended at US$9.23, a change of +49.4%. Range over the period: high US$10.12, low US$5.21. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$9.23 · Daily: -4.9% · Market cap: US$44.29B · Sector: Energy · Industry: Oil & Gas Services
Hafnia Limited ($HAFN) runs a fleet of product tankers across five vessel size categories, moving refined petroleum products – clean fuels, dirty oil products, vegetable oil and easy chemicals – between loading terminals and ports. Its Long Range II vessels, the largest in the fleet at 85,000 to 124,999 deadweight tons, carry clean petroleum products over extended routes. Smaller classes like the Medium Range and Handy segments handle a broader cargo mix, including vegetable oil and easy chemicals alongside conventional petroleum.
The Specialised segment covers the smallest vessels in the fleet, ranging from 5,000 to 19,999 deadweight tons – a distinct niche from the bulk of $HAFN's operations. CEO Soren Jensen leads a workforce of 4,876 people spread across the company's subsidiaries and operating entities.
2. BW LPG ($BWLP)
BW LPG (BWLP) share price over the last year: started at US$15.52, ended at US$24.44, a change of +57.5%. Range over the period: high US$26.14, low US$11.90. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$24.44 · Daily: -3.4% · Market cap: US$37.43B · Sector: Energy · Industry: Oil & Gas Services
BW LPG Limited ($BWLP) is a Singapore-based owner and operator of very large gas carriers, or VLGCs – vessels built to transport liquefied petroleum gas across international shipping routes. The company's fleet runs to over 54 of these ships, with a combined carrying capacity exceeding four million cubic metres.
The company also trades in LPG directly – an in-house product services team purchases the gas and delivers it to buyers. It also holds downstream terminal infrastructure and distribution assets.
Twenty-nine of its VLGCs are fitted with LPG dual-fuel propulsion, which lets those ships burn the same gas they carry as cargo. CEO Kristian Soerensen leads a team of 1,444 people across the shipping and product services arms.
3. Torm ($TRMD)
Torm (TRMD) share price over the last year: started at US$22.20, ended at US$34.63, a change of +56.0%. Range over the period: high US$38.23, low US$19.39. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$34.63 · Daily: -6.7% · Market cap: US$23.76B · Sector: Energy · Industry: Oil & Gas Services
Torm plc ($TRMD) carries refined petroleum products – gasoline, jet fuel and naphtha – from refineries to their customers. Its wholly owned fleet of around 90 vessels covers the LR2, LR1 and MR vessel classes, with ships ranging from 45,000 to 115,000 deadweight tonnage.
$TRMD also operates a Marine Engineering segment that develops and produces marine equipment, sitting alongside its core tanker business. CEO Jacob Meldgaard oversees both, with 613 employees across the company.
4. Frontline ($FRO)
Frontline (FRO) share price over the last year: started at US$23.66, ended at US$47.92, a change of +102.5%. Range over the period: high US$53.23, low US$20.28. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$47.92 · Daily: -3.8% · Market cap: US$10.67B · Sector: Energy · Industry: Oil & Gas Services
Frontline ($FRO) is a Cyprus-based tanker company that moves crude oil and refined petroleum products by sea. Its fleet covers three vessel classes: VLCCs (very large crude carriers), Suezmax tankers and LR2/Aframax tankers, each suited to different cargo volumes and trade routes.
Lars Barstad leads the company, which keeps a lean onshore headcount of 85 employees relative to the scale of its fleet. $FRO operates across global shipping lanes rather than being tied to any single region.
5. CMB.TECH ($CMBT)
CMB.TECH (CMBT) share price over the last year: started at US$10.20, ended at US$19.34, a change of +89.6%. Range over the period: high US$20.41, low US$9.01. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$19.34 · Daily: -1.6% · Market cap: US$5.40B · Sector: Energy · Industry: Oil & Gas Services
CMB.TECH NV is a Belgium-based maritime company with a fleet of more than 250 seagoing vessels, covering crude oil tankers, chemical tankers, dry bulk carriers, container ships, offshore wind vessels, tugboats and ferries. Its crude oil tanker and offshore oil activities operate under the Euronav brand, which handles shipping on international markets alongside floating production, storage and offloading operations.
The company says it's also focused on fleet diversification and decarbonisation, aiming to develop large-scale low-carbon solutions across marine and industrial applications. CEO Alexander Saverys leads the group, which operates through two core segments: tanker services and those floating production and storage operations.
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6. International Seaways ($INSW)
International Seaways (INSW) share price over the last year: started at US$48.34, ended at US$103.95, a change of +115.0%. Range over the period: high US$111.15, low US$43.29. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$103.95 · Daily: -4.7% · Market cap: US$5.15B · Sector: Energy · Industry: Oil & Gas Services
International Seaways ($INSW) moves crude oil and refined petroleum products across international shipping lanes through a fleet of about 84 tankers. The crude side operates VLCCs (very large crude carriers), Suezmaxes and Aframaxes – three vessel classes that differ mainly by carrying capacity. $INSW also runs a ship-to-ship lightering business, where cargo is transferred between vessels at sea rather than at a fixed port terminal, with operations in U.S. Gulf, U.S. Pacific, Grand Bahama and Panama waters. Its product tanker arm carries refined fuels aboard medium-range and long-range carriers, with 14 LR1 vessels in that segment including six currently on order as newbuilds.
Under CEO Lois Zabrocky, the company employs 2,763 people to run that dual-segment operation.
7. Scorpio Tankers ($STNG)
Scorpio Tankers (STNG) share price over the last year: started at US$58.91, ended at US$82.33, a change of +39.8%. Range over the period: high US$87.85, low US$49.51. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$82.33 · Daily: -4.5% · Market cap: US$4.12B · Sector: Energy · Industry: Oil & Gas Services
Scorpio Tankers Inc ($STNG) is a Monaco-based company focused on moving refined petroleum products by sea – cargo like jet fuel, diesel and gasoline, rather than crude oil. The fleet covers 113 vessels held through a mix of outright ownership, finance leases and bareboat charter arrangements. Four vessel types make up the operation: Handymax, Medium Range (MR), LR1/Panamax and LR2/Aframax.
The MR segment is the largest slice of the fleet at 60 ships, followed by 39 LR2 vessels and 14 Handymax tankers. Emanuele Lauro serves as chief executive.
8. DHT Holdings ($DHT)
DHT Holdings (DHT) share price over the last year: started at US$12.75, ended at US$21.39, a change of +67.8%. Range over the period: high US$23.27, low US$11.20. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$21.39 · Daily: -4.7% · Market cap: US$3.45B · Sector: Energy · Industry: Oil & Gas Services
DHT Holdings ($DHT) focuses entirely on one segment of the tanker market: Very Large Crude Carriers, or VLCCs. These are among the largest vessels on the water, built to move crude oil in bulk across international shipping routes. $DHT operates a fleet of around 23 of them, each named – DHT Stallion, DHT Jaguar, DHT Taiga, and so on – and managed through subsidiaries in Monaco, Norway, Singapore and India.
The company employs 737 people and is led by CEO Svein Harfjeld. Alongside owning and operating its vessels, $DHT provides technical management services as a secondary line of work. Its entire commercial focus stays on crude oil – it doesn't carry refined fuels or gas, unlike some other names in this article.
9. Teekay Tankers ($TNK)
Teekay Tankers (TNK) share price over the last year: started at US$53.79, ended at US$95.60, a change of +77.7%. Range over the period: high US$100.92, low US$48.19. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$95.60 · Daily: -3.2% · Market cap: US$3.32B · Sector: Energy · Industry: Oil & Gas Services
Teekay Tankers ($TNK) owns and operates a fleet of crude oil and product tankers. The core of the business is its Tankers segment, which covers vessel operations and includes ships deployed on full-service lightering contracts. Lightering involves transferring cargo between vessels at sea – typically moving oil from large tankers to smaller ones that can reach shallower ports. $TNK also provides ship-to-ship support services from its U.S. operations as part of those lightering activities.
The company's Marine Services segment runs a different kind of work: providing operational and maintenance services to the Australian government, Australian energy companies and other third parties. Kenneth Hvid leads $TNK as chief executive, and the fleet includes vessels such as Aquabliss, Beijing Spirit, Sydney Spirit and Whistler Spirit.
10. Okeanis Eco Tankers ($ECO)
Okeanis Eco Tankers (ECO) share price over the last year: started at US$30.52, ended at US$77.54, a change of +154.1%. Range over the period: high US$86.30, low US$28.20. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$77.54 · Daily: -6.2% · Market cap: US$3.08B · Sector: Energy · Industry: Oil & Gas Services
Okeanis Eco Tankers Corp ($ECO) is a Greece-based company that charters and operates tanker vessels for deep-sea crude oil transportation. Its fleet consists of Suezmax tankers and VLCCs – very large crude carriers.
The vessels are built to ECO-standard, meaning they're designed to consume less bunker fuel. Each ship also carries scrubbers – exhaust gas cleaning systems – and is fitted to meet ballast water treatment regulations.
CEO Aristidis Alafouzos leads the company, which operates through subsidiaries and has just 14 direct employees. Its customer network covers countries including Singapore, the United Kingdom, Hong Kong, Switzerland, Turkey, Brazil and the United States.
Common questions
How do I invest in tanker stocks in New Zealand?
All ten companies in this list trade on U.S. exchanges, so you access them through a share trading platform that offers U.S. market access. You search by ticker, choose the number of shares, and place the order in the same way as any other U.S.-listed stock. Because these shares are priced in USD, each trade involves an NZD-to-USD conversion, and the exchange rate at the time affects your effective purchase price.
What are the key risks of tanker stocks?
Charter rates – the fees shipowners charge to move cargo – can swing sharply, and tanker earnings rise and fall with them. A wave of new vessel deliveries can push rates down quickly, while a drop in oil trade volumes has a similar effect. Geopolitical events, sanctions regimes, and shifts in trade routes can all move the supply-demand balance in ways that are difficult to anticipate. NZ investors also carry NZD/USD currency exposure, since these stocks trade in USD and any returns convert back to NZD at the prevailing rate.
What's the difference between crude tankers and product tankers?
Crude tankers carry unrefined oil from production sites to refineries; product tankers carry refined fuels – gasoline, jet fuel and naphtha – from refineries to end markets. The two markets don't always move in sync, since refinery throughput, seasonal fuel demand and regional trade patterns each affect them differently. This list covers both, along with $BWLP, which operates carriers built specifically for liquefied petroleum gas – a distinct cargo type with its own supply and demand dynamics.
What drives tanker freight rates?
Freight rates reflect the balance between available vessel capacity and the volume of cargo seeking transport. When demand outpaces supply – whether because trade volumes spike or vessels are taken out of circulation – rates can rise sharply; the reverse pushes them down just as fast. Tanker companies can lock in revenue at a fixed daily rate through time charters, or take their chances on the spot market voyage by voyage. Higher spot exposure can amplify earnings in a strong rate environment, but it also deepens the fall when rates pull back.
Disclaimer
Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.
This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.
Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.
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