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StockNews.com
StockNews.com
Business
Sweta Vijayan

2 Shipping Stocks Rated 'Strong-Buy' For June 2022

Due to continued global port congestion and rising demand for marine shipping services to ease the supply constraints, freight shipping costs have surged significantly of late. Moreover, with the lifting of lockdowns in China, the rising demand for shipping services to transport dry bulk commodities should benefit shipping companies.

Investor optimism in this space is evident in the SonicShares Global Shipping ETF’s (BOAT) 1.9% gains over the past week. The global ocean freight forwarding market is expected to grow at a 7.4% CAGR to reach $192.14 billion by 2026.

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