US-listed shipping stocks closed the first quarter up nearly 40% on average as investors flooded into the sector after shunning it for much of Covid-plagued 2020.
Jefferies lead shipping analyst Randy Giveans called it a "record" performance by shipping during his years of coverage, as 31 of the 32 stocks under his research gained ground.
Shipping dramatically outperformed both the S&P 500, which lifted 7%, and the Russell 2000 Index of small-cap stocks, which climbed 14.1%.
