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Castor Maritime vs. Navios: Which Shipping Stock is a Better Buy?

Stock MarketsJun 01, 2021 04:30PM ET
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© Reuters. Castor Maritime vs. Navios: Which Shipping Stock is a Better Buy?

The shipping industry has been gradually recovering thanks to a rising demand for commodities as several economies resume their manufacturing and industrial activities. As a result, two major players in the shipping industry, Castor Maritime (CTRM) and Navios (NMM), are expected to benefit in the coming quarters. But which of these two stocks is a better buy now? Let’s find out.Castor Maritime Inc. (CTRM) and Navios Maritime Partners L.P. (NYSE:NMM) are two established players in the shipping industry. Based in Limassol, Cyprus, CTRM provides seaborne transportation services for dry bulk cargo, including iron ore, coal, grains, and steel products. NMM, based in Monaco, owns and operates dry cargo vessels in Asia, Europe, North America, and Australia.

Most shipping companies were hit severely by the COVID-19 pandemic due to mobility restrictions and a contraction of international trade. However, as economies worldwide resume manufacturing and infrastructural activities, the demand for commodities, such as iron ore and coal, which are primarily transported by sea, is increasing, and the trend is expected to continue for the foreseeable future. In fact, according to Globe Newswire, the global dry bulk shipping market is expected to grow at a 5.10% CAGR between 2020 - 2027. Consequently, NMM and CTRM should witness increasing demand for their services.

While NMM has gained 314.4% over the past nine months, CTRM has returned 65.3%. In terms of their past six months’ performance, NMM is a clear winner with 240.9% returns versus CTRM’s 91.2%. But which of these two stocks is a better pick now? Let's find out.

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Castor Maritime vs. Navios: Which Shipping Stock is a Better Buy?
 

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