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Shipping and tankers make broad move higher

  • Shipping stocks are putting in some gains with dry bulk and gas/oil transportation companies participating in the rally.
  • 28 out of the 35 stocks listed in the broad shipping category are higher. The catch-all Guggenheim Shipping ETF (NYSEARCA:SEA) is up 1.0%.
  • Brisk stock market gains in Asia this week have helped sentiment, while a spike in crude oil prices won't go unnoticed. The bigger issue for the long-term will be the delicate balance between shipping/tankers supply and demand.
  • Leading sector movers are Navios Maritime Partners (NMM +6.2%), Dorian (LPG +4.8%), Teekay (TK +4.2%), Navigator Holdings (NVGS +4.5%), Diana Shipping (DSX +3.2%), and GasLog Partners (GLOP +4.8%).

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Navios Maritime Partners L.P. Common Units