Shipping Stocks Avoided Dangerous Waters in 2022: Check Out 3 Small Players with High-Yielding Dividends

Many shipping companies reported a strong year in terms of earnings.

ZIM Integrated Shipping Services Ltd. ZIM saw its second-quarter operating profit increase 52% year-on-year to $1.76 billion. SonicShares Global Shipping's BOAT ETF has provided pure-play exposure to the global shipping industry, and is only down about 8% year-to-date.

In a choppy market, the right shipping stocks can point your portfolio to calmer waters.

Based on market performance, Diana Shipping Inc. DSX has had the best market performance of the three stocks listed below, up more than 16% since the start of the year.

Additionally, these three small caps have room for growth, as Market Research Future forecasts the dry bulk shipping market to reach a market volume of 6.8 billion tons and will grow at a compound annual growth rate of 5.10% from 2020 to 2027.

See also: With more than 30 LNG carriers waiting off Europe's coast, US gas carriers could benefit from Contango< /p>

• Diana Shipping Inc. DSX offers a dividend yield of 24.34% or $1.10 per share per year, making quarterly payments, with an inconsistent track record of increasing its dividend payments.

Diana Shipping provides transportation services for various commodities, including coal, iron ore, and grain. It also transports small bulks including steel products, cement and fertilizers through its dry bulk carriers.

Diana Shipping currently has a fleet of 36 bulk carriers (4 Newcastlemax, 11 Capesize, 5 Post-Panamax, 6 Kamsarmax, 8 Panamax and 3 Ultramax) and plans to take delivery of 6 Bulk Carriers Ultramax dry products in the fourth quarter of 2022.

• Genco Shipping & Trading Limited GNK offers a dividend yield of 13.58% or $2 per share per year, using quarterly payments, with a history of increasing its dividends once in the last few years.< /p>

Genco Shipping & Trading is an international shipping company specializing in the transportation of iron ore, coal, The company has a fleet of 44 dry cargo vessels consisting of Capesize, Ultramax vessels and Supramax which provide an essential link in international trade.

• Euroseas Ltd ESEA offers a dividend yield of 9.73% or $2 per share per year, through quarterly payments, with an inconsistent history of increasing its dividends.

Euroseas operations are managed by an affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the ships. Its fleet consists of 18 vessels, including 10 Feeder container ships and 8 Intermediate container ships, which carry container boxes providing regular service between ports.

Euroseas plans to have 27 container ships after the delivery of nine feeder container ships in 2023 and 2024.

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