Despite the rising energy prices, the continued global supply chain disruption exacerbated by the Russia-Ukraine war and China’s COVID lockdowns has been beneficial for most shipping operators because of high demand. In addition, high freight rates and international demand for manufactured goods are helping shipping companies expand their profit margins. Moreover, rapid digitization, automation in logistics, and growing cargo shipping services across sectors are expected to drive the growth of the shipping market. According to a report by Market Research Future, the cargo shipping market is expected to grow at a CAGR of 5.2% from 2022 to 2030. Therefore, both Matson, Inc. (MATX) and Golden Ocean Group Limited (GOGL) should benefit.
MATX provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services, and its Logistics segment provides multimodal transportation brokerage services. GOGL is a shipping company that owns and operates a fleet of dry bulk vessels comprising Newcastlemax, Capesize, Panamax, and Ultramax vessels worldwide.
