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Shipping Stocks Deliver Big Profits

Some of the biggest names in dry-bulk shipping have doubled, or come close to it, since the sector’s mid-January bottom, Cramer said, and there’s still money to be made here.

Excel Maritime and DryShips are up 87% and 101%, respectively, since Jan. 17. Genco Shipping & Trading , Eagle Bulk Shipping and Diana Shipping are up an average of 91% since then. With gains like those, no doubt investors will look elsewhere in the sector to put their cash. That scramble into other stocks, namely Paragon and Star Bulk Carriers , is where Cramer sees opportunity.

Paragon and Star Bulk, growing an average of about 44% since January, haven’t moved nearly as much as their peers. But the gains were more than decent, and Cramer said there’s still plenty of room to move. Both companies either have added ships to their fleets or potentially could this year, and ships that aren’t yet charted out could fetch higher rates. The new business could push Star Bulk and Paragon, who already yield a hefty 9.5% and 9.1%, respectively, to increase their dividends.

Of course, this doesn’t mean Cramer’s giving up on Frontline , another shipping favorite that transports both crude oil and raw materials, or Nordic American Tanker . He just thinks it’s only a matter of time before PRGN and SBLK catch up to the rest of their cohort. So investors who get on board early have the most to gain.

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