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Most shipping companies were hit severely by the COVID-19 pandemic due to social distancing restrictions and a contraction of international trade. However, because economies worldwide are resuming manufacturing and infrastructure activities, the demand for commodities, which are transported primarily by sea, is increasing. This is generating increased demand for shipping services. According to Globe Newswire, the global dry bulk shipping market is expected to grow at a 5.10% CAGR between 2020 – 2027. As a result, both DAC and CTRM should witness increasing demand for their services.
While DAC has gained 1,106.4% over the past nine months, CTRM has returned nearly 176%. In terms of past six months’ performance, DAC is again a clear winner with 344.5% returns versus CTRM’s 145.4%. But which of these two stocks is a better pick now? Let’s find out.
