© Reuters. 3 Shipping Stocks Rated Strong Buy
Shipping stocks are buoyant as the global economy begins its rebound from the economic effects of the COVID-19 pandemic. We think ZIM Integrated Shipping Services (ZIM), Matson (NYSE:) and Global Ship Lease (NYSE:) are three companies that are well positioned to benefit from a sector resurgence and, as such, warrant a closer look now by investors. Let’s evaluate these names more closely.Shipping has been in the spotlight in recent weeks after the Ever Given became stuck within the Suez Canal. The ship was freed and subsequently impounded by Egyptian authorities.
The shipping sector is also grabbing investors’ attention because the global economy is sparking back to life and the transportation of products is will shortly reclaim its traditional vitality. Also, the prices of most consumer products are starting to rise, making efficient shipping that much more important. For investor not already long in shipping stocks, now may be the time to consider establishing a position.
Three shipping stocks that we think might be worthy of a place in one’s portfolio are ZIM Integrated Shipping Services (ZIM), Matson (MATX) and Global Ship Lease (GSL). Fittingly, we have accorded each of these names a “Strong Buy”.
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