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The recent closure of the Ningbo-Zhoushan port in China also highlighted the importance of the shipping industry. The Baltic Dry Index (BDI) recently declined from a more than 11-year high but recorded its second monthly gain in August due to global shipping constraints and robust demand. Because the need to transport goods is expected to remain high in the coming months, the shipping industry should achieve decent growth.
Therefore, we think it could be wise to scoop up the shares of fundamentally sound shipping stocks Costamare Inc . (CMRE) and Safe Bulkers, Inc. (SB). However, since the prices of shares of Golden Ocean Group Limited (GOGL) and Castor Maritime Inc. (CTRM) have far exceeded their intrinsic values, they are best avoided now.
