10 Best Marine Shipping Stocks to Buy According to Analysts

6. Genco Shipping & Trading Limited (NYSE:GNK

Upside Potential: 66.45%

Number of Hedge Fund Investors: 22

Stock Price as of December 24: $14.04

Genco Shipping & Trading Limited (NYSE:GNK) is a leading dry bulk shipping company, operating a diversified fleet of vessels to transport major bulk commodities such as iron ore, coal, and grains globally.

Genco Shipping & Trading Limited (NYSE:GNK) is actively pursuing a fleet growth and renewal strategy to enhance its earnings power and operational efficiency. In Q3, the company acquired a 2016-built Capesize vessel, marking its third such acquisition in the past 12 months. These strategic acquisitions are part of a broader plan to modernize the fleet by replacing older, less efficient vessels with high-quality, fuel-efficient ships. By doing so, Genco Shipping & Trading Limited (NYSE:GNK) has added premium high-specification assets to the fleet and has realized dry dock capital expenditure savings of $13 million in 2024 and 2025.

Despite recent volatility in the dry bulk market, Genco Shipping & Trading Limited (NYSE:GNK) remains optimistic about the industry’s long-term fundamentals. The company expects to benefit from the growing long-haul ton-mile developments in the iron ore and bauxite trade. Specifically, the Simandou iron ore project in West Africa is on track to begin production in late 2025.

The expansion of bauxite and iron ore production in West Africa, along with incremental production growth from Vale, are positive catalysts for the Capesize segment. These developments are particularly significant given the origins of these export volumes, as these routes have three times the ton-mile impact of Australia to China cargoes.