The increasing demand for transportation services for bulk goods and commodities with the reopening of industries globally has been driving the shipping industry’s recovery this year. With that, prominent shipping companies ZIM Integrated (ZIM) and Kirby (NYSE:KEX) should see a decent recovery in the coming months. But let’s find out which of these stocks is a better buy now.ZIM Integrated Shipping Services Ltd. (ZIM) is an Israel-based company that provides shipping and logistics services worldwide. The company offers multi-modal, cargo handling, tariff management, schedule information, and other related services, such as shipping agencies, storage, distribution, forwarding and land transportation.
Kirby Corporation (KEX) in Houston, Tex., operates a fleet of inland tank barges. The company transports industrial chemicals, refined petroleum products, black oil products, and agricultural chemicals. It also overhauls and services diesel engines employed in marine, power generation, and rail applications.
A near halt in industrial activities amid the COVID-19 pandemic led to a decline in demand for the shipping of bulk goods and commodities. The gradual resumption of industrial activities globally this year has been reviving that demand, however. Furthermore, to remain competitive in this digital era, the industry has been adopting technology solutions for tracking shipments, safe packaging and storage, thus providing an even faster and more efficient service to customers.