Let the good times roll: Shipping stocks hit multiyear peak
- Shipping shares posted another strong trading day on Wednesday; fresh 52-week highs are now a regular occurrence
- Prices of many shipping equities have not been this high in several years — in some cases, in over a decade
- Rates are strongest for crude tankers but share strength is broad-based, with product carriers, dry bulk, boxship leasing, mixed-fleet and LPG segments also at multiyear highs
Shipping stocks are a niche category for traders, with market caps that pale in comparison to mainstream equities. Those niche bets on shipping shares are now paying off in a big way. Pricing is the highest it has been in years
