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Ship Stocks Ahoy

With oil pushing through the $80 mark and not looking back, crude tanker stocks are getting a lot more attention. But it isn’t just oil being carted throughout the high seas. What about investing in companies that ship everything else?

Rates for bulk and dry shippers have gone up an astonishing 350%, Pete Najarian says. DryShips (DRYS) is up $20 since just Sept. 17.

For oil shippers, rates are up 75% in the last couple of weeks. Pete thinks a company like Nordic Tanker (NAT) has a chance to prosper off this new pricing, as it prices itself off the spot. The stock hasn’t moved much yet either, he noted, saying NAT is his favorite stock in the space.

Karen Finerman was intrigued by Pete’s calls on the dry shippers, but she doesn’t think oil and dry or bulk shippers are interchangeable.

Jeff Macke prefers railroads to shippers. Even after Warren Buffett took a stake in Union Pacific (UNP), the stock barely budged. It may not be an oil trade, but UNP and the other rails are how Jeff would put his money into the transports.

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Trader disclosure: On Sept. 26, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (DISH), (NAT), (UA); Finerman's Firm Owns (BEAS), (NYX), (NMX), (PSS), (WMT), (TXI); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (MSFT) Options

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