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Shipping Stocks Worth Watching - August 7th

Almonty Industries logo with Materials background
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Key Points

  • Seven stocks highlighted: Almonty Industries (ALM), Viking (VIK), Frontline (FRO), Star Bulk Carriers (SBLK), Okeanis Eco Tankers (ECO), Global Ship Lease (GSL), and Scorpio Tankers (STNG) recorded the highest recent dollar trading volume among stocks tracked by MarketBeat’s shipping screener.
  • The group spans passenger transportation, dry-bulk shipping, containership leasing, and crude-oil and refined-product tankers. Almonty Industries is a notable outlier, as it produces and ships tungsten concentrate rather than operating a conventional shipping fleet.
  • Shipping stocks can be volatile because their performance is affected by global trade, freight rates, fuel costs, fleet capacity, and broader economic cycles.
  • MarketBeat previews the top five stocks to own by September 1st.

Almonty Industries, Viking, Frontline, Star Bulk Carriers, Okeanis Eco Tankers, Global Ship Lease, and Scorpio Tankers are the seven Shipping stocks to watch today, according to MarketBeat's stock screener tool. Shipping stocks are shares of publicly traded companies involved in transporting goods or passengers by sea, including container lines, tanker operators, and dry-bulk carriers. Their performance is often influenced by global trade volumes, freight rates, fuel costs, fleet capacity, and economic cycles, making them potentially volatile investments. These companies had the highest dollar trading volume of any Shipping stocks within the last several days.

Almonty Industries (ALM)

Almonty Industries Inc. is a producer of tungsten concentrate. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Almonty Industries Inc. is based in TORONTO.

Read Our Latest Research Report on ALM

Viking (VIK)

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.

Read Our Latest Research Report on VIK

Frontline (FRO)

Read Our Latest Research Report on FRO

Star Bulk Carriers (SBLK)

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.

Read Our Latest Research Report on SBLK

Okeanis Eco Tankers (ECO)

Read Our Latest Research Report on ECO

Global Ship Lease (GSL)

Global Ship Lease, Inc., together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.

Read Our Latest Research Report on GSL

Scorpio Tankers (STNG)

Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.

Read Our Latest Research Report on STNG

See Also

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