The tightening of oil supplies due to the U.S.-Iranian war and the closure of the Strait of Hormuz is a tailwind for tanker companies, Jeffries said. The bank began interviewing three tanker companies on Friday, saying International Seaways, Scorpio Tankers and Navios Maritime Partners were among the top names in the sector. Tanker inventories soared in 2026. Jefferies analyst Stephanie Moore wrote that tanker inventories are up an average of 50% year-to-date. And it is not just the Middle East conflict that is accelerating this rise. These companies stand to benefit from the absorption of Venezuelan oil flows and permanent changes in trade routes facilitated by the protracted four-year Russia-Ukraine conflict. Jefferies rates International Seaways a “buy” and sets a price target of $90. This represents a 17% increase from Thursday’s closing price. The company is already up 60% in 2026. INSW YTD Mountain International Seaways year-to-date chart. What’s unique about International Seaways is that we handle both crude and refined products. “Most of our peers are focused on one side of the market,” Moore wrote. “Seaways is focused on debt repayments in 2022 and 2023, resulting in a lower break-even point across its fleet (approximately $13,000 per day), significant (free cash flow) generation, a strong liquidity position, and significant optionization to shareholder returns,” he added. Moore also gave Scorpio Tankers a “buy” rating and a $90 price target, which also suggests an upside of 17% from Thursday’s closing price. Scorpio’s stock price has increased more than 50% since the beginning of the year. He noted that the company’s stock paid a dividend of 45 cents per share in the fourth quarter, and said the dividend is sustainable thanks to the company’s disciplined cash allocation. Finally, Jefferies rates Navios Maritime Partners a Buy with a price target of $85. This is a 22% increase from Thursday’s closing price. The stock has increased 33% since the beginning of the year. Navios’ fleet of 171 vessels is the largest of the three companies and includes container ships and dry bulkers in addition to tankers. “This new diversified approach provides greater flexibility going forward, giving management more options during challenging times, such as proactively leveraging stock repurchase authorizations, while also providing opportunities to invest in different segments at different points in the cycle,” Moore wrote. NMM YTD Mountain Navios Maritime Partners year-to-date chart.
