Navios Maritime Holdings Inc. (NM)

[Chart Addict]

Transports among top gainers of the day.



Today's top gainers among major exchange listed stocks (not counting OTC listings) included Seanergy Maritime Holdings (SHIP). The company owns six Capesize and two Supramax vessels, and is based in Athens, Greece. The stock boasted gains of 113.79% on volume of 6.18M shares.



Next on the Hit Parade was Sino-Global Shipping America, Ltd. (SINO). Up 48.34% on volume on volume of 11.0M shares. The company, through its subsidiaries, "operates as a shipping agency, logistics, and ship management services company primarily in the People's Republic of China and the United States. Its services include shipping agency services," (This company is not listed as a part of the shipping industry directly, rather it is listed as Services | Air Delivery & Freight Services | USA).

Next in line among true shipping stocks (or those so categorized) was Euroseas Ltd. (ESEA). Up 13.82% on volume of 1.78M shares. "The company owns and operates container ships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. As of April 1, 2016, it had a fleet of seven containerships; and five drybulk carriers comprised of three Panamax drybulk carriers, one Handymax drybulk carrier, and one Kamsarmax drybulk carrier, as well as three newbuildings." The company is also, by golly, a shipping company based in Greece.



Globus Maritime Limited (GLBS) enjoyed a very good day as well, posting 46.43% gains on volume of 9.4M shares. " The company owns, operates, and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina, and other dry bulk cargoes." The company is based in Athens, Greece.



DryShips, Inc. (DRYS) turned in 11.54% on volume of 9.09M shares, but that's not a big gain for a stock that closed the day out at only $0.40. (WARNING: Before hopping on board this liner because the ride is so cheap, there is talk of a 4-1 reverse split to maintain listing compliance.) "The company operates through Drybulk and Offshore Support segments. The Drybulk segment provides drybulk commodities transportation services for the steel, electric utility, construction, and agri-food industries. The Offshore Support segment offers its services to the global offshore energy industry. As of March 31, 2016, it owned a fleet of 20 Panamax drybulk carriers with a combined deadweight tonnage of approximately 1.5 million tons; and 6 offshore supply vessels comprising 2 platform supply and 4 oil spill recovery vessels. The company was founded in 2004 and is based in Athens, Greece."

Navios Maritime Holdings Inc. (NM) appears to be holding ground on support, having closed at a mere $0.96. It was up 2.46% today, on volume of over 600K shares. Institutional ownership is a respectable 23.80%, and insider transactions were up a hair at 0.13%, according to the latest data.

Among the volume leaders in the shipping industry as of today are GLBS, DRYS, TOPS, SHIP, STNG, DHT, and EGLE, all of which managed to churn over in excess of 2.5M shares according to the Finviz screener.

Clearly the waters are getting a bit choppy - which may a good sign for an industry that has, on the whole, carved out a multi-year bottom on the charts. Conventional wisdom holds that when long-depressed sectors rebound, their stocks come breaking out with great velocity. Whether that holds true in today's market remains to be seen.

History will tell whether the expansion of the technological marvel that is the Panama Canal will be the catalyst that revitalized this ailing industry.