Investment giant BlackRock bet on tankers as the market climbed off the canvas in the fourth quarter of 2018.
BlackRock grew its stakes in International Seaways, Nordic American Tankers, Teekay Tankers and Ardmore Shipping during the period as rates and equities diverged.
Ardmore was BlackRock's biggest buy, with its stake growing by more than 296,000 shares.
The firm also acquired more than 190,000 shares of Nordic American Tankers, over 165,000 shares of Teekay Tankers and nearly 42,000 in International Seaways.
VLCC, suezmax and aframax rates all took off in the fourth quarter, with the positive momentum spilling over into the product marker.
At the same time the stock market had its worst December since the Great Depression thanks to concerns about a trade war between the US and China and interest rate worries.
Since, tanker rates have leveled off and, Monday, tanker stocks took a tumble thanks to stalling US-China trade talks.
BlackRock's is not the only institutional investor making moves into tankers.
Dimensional Fund Advisors bought into DHT Holdings, alongside smaller plays Ardmore and International Seaways.
