I was looking for a title for an analysis of shipping stocks and what better words than “Anchors Aweigh”.  Of course, the minute I said it, I started to sing the Navy Anthem.  My Dad served in the Navy during WWII and I will always be a Navy man.  Right now, that song is running through my head.

I picked 4 companies that, to me, represent the best in the shipping industry: SHIP, OCNF, DRYS and SINO.

Seanergy Maritime Holdings Corporation (NASDAQ:SHIP) – A company that is flying under the radar.  It is profitable, 95% of its fleet has contract coverage (meaning they are leased out under contract for all of 2010), they recently raised capital, they are retiring debt, etc…  Definitely one to put on the radar!

DryShips Inc. (NASDAQ:DRYS) - the most well known of the shipping stocks – DRYS has been trading sideways since May of 2009 in a band between $5 and $8.  That is great if you are a short-term trader.

OceanFreight Inc. (NASDAQ:OCNF) – OCNF has been a disappointing trade for most of the year.  Like DRYS it is highly volatile…which is a good thing for traders.  Their financials are a mess, but the global economic recovery might keep them “afloat”.  Definitely the “weakest link in the chain”.

Sino-Global Shipping America, Ltd. (Nasdaq:SINO) – Don’t make the same mistake I did.  SINO is not a shipping company in the sense that these other three companies are.  They actually provide shipping agency services and are firmly entrenched in some of the busiest Chinese ports.   They are highly profitable and have a rock-solid Balance Sheet.  What originally got traders fired up about the stock was that they had more cash per share than share price (before the recent run up).  Might be a good stock to keep an eye on.

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