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Maritime Shipping and Container Stocks

Maritime shipping, logistics, container shipping and dry-bulk carrier stocks posted strong results on Tuesday with Star Bulk Carriers (SBLK), Matson (MATX), Eagle Bulk Shipping (EGLE), and Global Ship Lease (GSL) all showing relative strength while popping above buy points. 


The top five (5) MarketSmith relative strength candidates for Tuesday’s scan featured maritime shipping container and dry-bulk carrier stocks. Star Bulk gained 6.60%, followed by Genko Shipping and Trading rising more than 6.0%.

MATX, EGLE, and GSL followed with more than 5.3%, 4.9%, and 3.5% gains respectively.


Matson Maritime Shipping 

Honolulu-based Matson, Inc.(MATXprovides ocean transport with routes serving Hawaii, Guam, California, China and the South Pacific.

Matson, Inc. (MATX), Costamare (CMRE), and Star Bulk Carriers (SBLK) are among the top 5 rated stocks within this industry group.


The stock broke out Tuesday printing fresh 52-week highs at 101.72 closing up 5.28% for the day at 102.32.

MATX is now up more than 15.73% in two trading days.

RS Line rose from 94 on Friday to 97 on Tuesday, a new high.

Matson has posted seven straight quarters of earnings growth, while the last five recorded triple-digit % gains. It has also reported five quarters in a row of revenue growth.


Matson’s expedited services have been in demand throughout 2020 and 2021, with Q3 earnings rising nearly 380% to $6.53, while sales jumped 66% to 1.072 billion.

Operating income in the third quarter was $377.9 million vs. $98.4 million in the year-ago period. 

Revenue grew 81.0% on a year-over-year basis.

Matson guided Q4 estimates sharply higher, contributing to a move back above the 50-day on Wednesday, just 4 days ago.


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