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Since the impending holiday season is spurring consumer spending, shipping rates are expected to increase further in the coming months. Given the steady economic recovery, rising household income, and falling unemployment rate, the National Retail Federation expects holiday spending in the United States to increase between 8.5% -10.5% year-over-year in 2021.
Renowned shipping companies ZIM Integrated Shipping Services Ltd. (ZIM), Matson, Inc. (MATX), Costamare Inc . (CMRE), and Danaos Corporation (DAC) reported increased profits in the last quarter, driven by strong demand and higher freight rates. Analysts expect their earnings to rise by more than 90% in the current quarter. Thus, these stocks could be ideal bets now.
