The strength in the shipping sector may indicate the US economy is in better shape than recent economic data suggests, according to Urs Dur, an analyst at Lazard Capital Markets.
“Right now you’re seeing a surprising growth in movement of containers globally,” Dur told CNBC Wednesday. “There’s fundamental demand that’s coming back. We just haven’t seen it in the GDP numbers yet.”
"It doesn’t mean that the recovery is going to accelerate," he added, "(but) I feel there’s no double dip at this point.”
Dur has a net hold rating on the tanker side of the business, but does have buy ratings on Overseas Shipholding and Navios Maritime Holdings .
He has "mostly" a buy on the dry bulk and container sides of the industry. His favorite stocks in the space include Seaspan on the container side and Genco and Eagle Bulk Shipping on the dry bulk side.