Two of shipping magnate John Fredriksen’s carriers, Golden Ocean and Frontline, are in the top-five of the highest-rising equities on the Oslo Stock Exchange in 2022, E24 reports.
Shipping and oil stocks have been the big winners on the Oslo Stock Exchange in the first half of 2022, reports Norwegian online media E24 in an article on the year’s winners and losers on the stock market so far.
Shipping dominates the top-ten list of the best-performing stocks this year – with two John Fredriksen carriers near the top. Golden Ocean ranks second with a price increase of 49.28%, while Frontline takes fourth place with 40.92%.
Three other shipping companies – BW LPG, Flex LNG and Stolt-Nielsen – have also seen major price increases and rank third, sixth and seventh on the list, respectively.
At the very top is company TGS, which performs geological surveys of the seabed on behalf of the energy sector – with an impressive share price increase of 72.74%.
Analyst Erik Aspen Fosså says this advancement to a great extent is ”driven by the current energy squeeze and resulting high oil prices, as well as expectations that this will lead to increased investments in the oil and gas sector,” according to E24.
Oil companies score well on the list, with Equinor having seen a stock price increase of 40%, thereby landing in fifth place.
On the other hand, things are looking dull for the technology sector, which has generally been receding. Biotech company Nordic Nanovector is at the very bottom with a price decline of more than 83% since the year began.
