11 Best Marine Shipping Stocks to Invest in Now

4. Genco Shipping & Trading Limited (NYSE:GNK)

Number of Hedge Fund Holders: 24

Genco Shipping & Trading Limited (NYSE:GNK) is engaged in the ocean transportation of drybulk cargoes. The company’s CEO, in an interview with Bloomberg Television, stated that it is prepared to pass on the costs to the US exporters or position the ships elsewhere in case the proposed fees on the Chinese ships come into play. Overall, Genco Shipping & Trading Limited (NYSE:GNK) believes that the company remains well-prepared if Trump moves forward with the fees to counter China’s maritime dominance. The strategy seems to have provided a sigh of relief to the investors.

Genco Shipping & Trading Limited (NYSE:GNK) has made significant progress in renewing its fleet, divesting older, non-core assets near market highs, while, at the same time, strategically redeploying proceeds in a bid to capitalize on attractive growth opportunities. At the time of announcing its Q4 2024 results, Genco Shipping & Trading Limited (NYSE:GNK) highlighted that it has invested $134 million to replace smaller and less fuel-efficient vessels with modern, high-specification Capesizes. This has increased its investments in the fleet since 2021 to $283 million and has further expanded its earnings power. The fleet-wide TCE for the full year rose 29%, demonstrating the robust 2024 drybulk market as well as its sustained outperformance versus the benchmarks.