Supply chain issues caused by tight container capacity and port congestion have led to rising shipping rates. However, the need for shipping services to transport raw materials worldwide should drive the shipping industry’s growth.
Investor optimism surrounding the industry is evident in the SonicShares Global Shipping ETF’s (BOAT) 13.4% gains year-to-date compared to the SPDR S&P 500 Trust ETF’s (SPY) 7.8% loss. The global cargo shipping market is expected to grow at a 5.2% CAGR to $22.15 billion by 2030.
