(C) Reuters. Castor Maritime vs. Nippon Yusen: Which Shipping Stock is a Better Buy?
The global cargo transportation sector is rising rapidly thanks to rising international trade volume as countries resume their manufacturing and industrial activities. With this, two major players in the shipping industry–Castor (CTRM) and Nippon (NPNYY)–are expected to benefit from the industry’s recovery. But let’s find out which of these two stocks is a better buy now. Read on.Castor Maritime Inc. (CTRM) and Nippon Yusen (NPNYY) are two established players in the shipping industry. Based in Cyprus, CTRM provides seaborne transportation services for dry bulk cargo. NPNYY is a shipping, transportation and logistics company domiciled in Japan. The company divides itself into three divisions: global logistics, bulk shipping, and others.
Shipping companies were hit severely by the COVID-19 pandemic as international trade contracted greatly. However, the rising demand for raw materials as economies worldwide resume manufacturing activities is expected to speed the industry’s recovery this year.
While NPNYY has gained 209.6% over the past year, CTRM declined 39% over this period. Furthermore, NPNYY has gained 159.5% over the past nine months whereas CTRM has gained 128.9%. But which of these two stocks is a better pick now? Let’s find out.
Castor Maritime vs. Nippon Yusen: Which Shipping Stock is a Better Buy?
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.