20-quarter listed-company comparison

Marine Shipping Stocks

Marine Shipping: ZIM Integrated Shipping Services Ltd. owns the largest revenue base; Okeanis Eco Tankers Corp. has the fastest current growth.

The industry itself · before any single company

How has Marine Shipping moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 16% ahead of S&P 500. Earnings across its companies fell 20% on average over the last four reported quarters.

TURNING · ahead 2w~Price up, without the fundamentals confirming8 of 23 companies ahead of S&P 500 by 5% or more over three months

RS ↑2w · 22/23 >200d (+2) · 8/23 lead (+7) · EPS 11/22↑

Marine Shipping, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy MixedHow much of the industry is participating, how recently, and whether the movers score well.

Together8 of 23 stocks moving

Fresh7 crossed in the last 4 weeks

Backed by scoresmovers score +3 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 1/50

Mid 3/8+3

Small 4/10+4

Participation is spreading downward — the mid and small companies added more this month than the large ones did.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 23 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Marine Shipping outperforming S&P 500?

Marine Shipping has outperformed S&P 500 by 43.4% over the last 52 weeks. Over 13 weeks the gap is a lead of 0.5%. 20 of 23 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Seanergy Maritime Holdings Corp. is the strongest against the sector itself at +13.8%.

+0.5%Sector vs S&P 500 · 13 weeks

+43.4%Sector vs S&P 500 · 52 weeks

20/23Stocks leading S&P 500

9/23Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Marine Shipping has outperformed S&P 500 by 43.4% over 52 weeks and 0.5% over 13 weeks. 20 of 23 covered companies beat the S&P 500 on Mansfield relative strength, while 9 of 23 beat the sector itself. ZIM Integrated Shipping Services Ltd. leads with revenue of $6,295 million, based on 23 of 23 comparable companies through Mar 2026.

Is the Marine Shipping sector outperforming S&P 500?

Which Marine Shipping company is largest by revenue?

ZIM Integrated Shipping Services Ltd. leads with revenue of $6,295 million, based on 23 of 23 comparable companies through Mar 2026.

Which Marine Shipping company is growing fastest?

Okeanis Eco Tankers Corp. has the fastest current revenue growth at 33.1%, across 22 of 23 comparable companies.

Which Marine Shipping company has the strongest 4-Factor Sector Score?

Okeanis Eco Tankers Corp. ranks first at 74.9/100 with 86.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Marine Shipping company reports the most CAPEX?

Okeanis Eco Tankers Corp. reports the largest latest CAPEX at $242 million, with 23 of 23 companies comparable.

Which Marine Shipping company has the least gross debt?

StealthGas Inc. has the lowest comparable gross debt at $0 million. ZIM Integrated Shipping Services Ltd. has the highest at $5,478 million.

Which Marine Shipping company has the lowest comparable PEG?

Diana Shipping Inc. has the lowest comparable Guarded PEG at 0.1, among 17 of 23 companies that pass the metric’s comparability rules.

How much history does this Marine Shipping comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$43.1B

Kirby Corporation

Revenue growing

12/22

positive TTM year-on-year growth

Beating S&P 500

20/23

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Okeanis Eco Tankers Corp. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 86.2% evidence confidence.

Global Ship Lease, Inc. looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Safe Bulkers, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Okeanis Eco Tankers Corp. · ECO

74.9/100 · Favorable setup · 86% evidence

Exact sum: 33.4 + 15.7 + 11.1 + 14.7 = 74.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

33.4/35Growth & earnings

Revenue 33.1% · PAT 100% · OPM change 29.8 pp

95% evidence

15.7/25Capital efficiency

ROCE 8.6% · debt/equity 0.94×

80% evidence

11.1/20Valuation

P/E 8.9× · PEG 0.84

65% evidence

14.7/20Relative strength

RS sector 13.7% · RS bench 30.5% · 1Y 147.2%

100% evidence

2. Seanergy Maritime Holdings Corp. · SHIP

68.2/100 · Favorable setup · 72% evidence

Exact sum: 25.8 + 11.2 + 14.4 + 16.8 = 68.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

25.8/35Growth & earnings

Revenue 15% · PAT 40.7% · OPM change 43.9 pp

71% evidence

11.2/25Capital efficiency

ROCE 2.5% · debt/equity 1.11×

80% evidence

14.4/20Valuation

P/E 7.2× · PEG 0.18

65% evidence

16.8/20Relative strength

RS sector 13.8% · RS bench 30.5% · 1Y 135.3%

70% evidence

3. Danaos Corporation · DAC

65.8/100 · Favorable setup · 86% evidence

Exact sum: 17.6 + 16.4 + 14.3 + 17.5 = 65.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.6/35Growth & earnings

Revenue 3% · PAT 10.9% · OPM change 1.8 pp

95% evidence

16.4/25Capital efficiency

ROCE 2.7% · debt/equity 0.26×

80% evidence

14.3/20Valuation

P/E 4× · PEG 0.24

65% evidence

17.5/20Relative strength

RS sector 4.9% · RS bench 22.2% · 1Y 53.9%

100% evidence

4. Navios Maritime Partners L.P. · NMM

64.2/100 · Mixed-positive evidence · 86% evidence

Exact sum: 21.7 + 13.7 + 12.8 + 16 = 64.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.7/35Growth & earnings

Revenue 5.9% · PAT 3.9% · OPM change 13.4 pp

95% evidence

13.7/25Capital efficiency

ROCE 2.5% · debt/equity 0.69×

80% evidence

12.8/20Valuation

P/E 5.7× · PEG 0.71

65% evidence

16.0/20Relative strength

RS sector 7% · RS bench 23.7% · 1Y 90%

100% evidence

5. Safe Bulkers, Inc. · SB

60.1/100 · Mixed-positive evidence · 86% evidence

Exact sum: 16 + 13.3 + 13.9 + 16.9 = 60.1

Decision use: Price leads the evidence: RS versus the benchmark is 24.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

16.0/35Growth & earnings

Revenue -1.4% · PAT -31.6% · OPM change 12.4 pp

95% evidence

13.3/25Capital efficiency

ROCE 2.1% · debt/equity 0.65×

80% evidence

13.9/20Valuation

P/E 14.1× · PEG 0.13

65% evidence

16.9/20Relative strength

RS sector 7.2% · RS bench 24.2% · 1Y 90.6%

100% evidence

6. Himalaya Shipping Ltd. · HSHP

57.3/100 · Mixed-positive evidence · 62% evidence

Exact sum: 22.8 + 9.6 + 9.1 + 15.8 = 57.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.8/35Growth & earnings

Revenue 18% · PAT 100% · OPM change 21.7 pp

71% evidence

9.6/25Capital efficiency

ROCE 2.1% · debt/equity 4.38×

80% evidence

9.1/20Valuation

P/E 21.1× · PEG —

15% evidence

15.8/20Relative strength

RS sector 11.3% · RS bench 27.5% · 1Y 125.4%

70% evidence

7. Star Bulk Carriers Corp. · SBLK

57.2/100 · Mixed-positive evidence · 78% evidence

Exact sum: 15.4 + 14.7 + 12.5 + 14.6 = 57.2

Decision use: Price leads the evidence: RS versus the benchmark is 18.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

15.4/35Growth & earnings

Revenue -11.6% · PAT -37.5% · OPM change 22.9 pp

71% evidence

14.7/25Capital efficiency

ROCE 6.3% · debt/equity 0.45×

80% evidence

12.5/20Valuation

P/E 18× · PEG 0.24

65% evidence

14.6/20Relative strength

RS sector 1.6% · RS bench 18.1% · 1Y 52%

100% evidence

8. StealthGas Inc. · GASS

55.8/100 · Mixed-positive evidence · 80% evidence

Exact sum: 21.1 + 13.3 + 15.8 + 5.6 = 55.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.1/35Growth & earnings

Revenue 4.2% · PAT 78.1% · OPM change 2.4 pp

95% evidence

13.3/25Capital efficiency

ROCE 2% · debt/equity 0×

80% evidence

15.8/20Valuation

P/E 5.5× · PEG 0.12

65% evidence

5.6/20Relative strength

RS sector -11.7% · RS bench 2.7% · 1Y 34.4%

70% evidence

9. SFL Corporation Ltd. · SFL

53.4/100 · Mixed-positive evidence · 72% evidence

Exact sum: 19.6 + 8.3 + 12.1 + 13.4 = 53.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.6/35Growth & earnings

Revenue -16.4% · PAT -44.2% · OPM change 26.6 pp

71% evidence

8.3/25Capital efficiency

ROCE 1.9% · debt/equity 2.59×

80% evidence

12.1/20Valuation

P/E 45× · PEG 0.19

65% evidence

13.4/20Relative strength

RS sector 2.8% · RS bench 19.2% · 1Y 35.1%

70% evidence

10. Kirby Corporation · KEX

53.2/100 · Mixed-positive evidence · 86% evidence

Exact sum: 19.4 + 12.4 + 11.1 + 10.3 = 53.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.4/35Growth & earnings

Revenue 5.5% · PAT 22.9% · OPM change -0.6 pp

95% evidence

12.4/25Capital efficiency

ROCE 2% · debt/equity 0.35×

80% evidence

11.1/20Valuation

P/E 20.4× · PEG 0.71

65% evidence

10.3/20Relative strength

RS sector -2.4% · RS bench 13.1% · 1Y 52.2%

100% evidence

11. Global Ship Lease, Inc. · GSL

52.8/100 · Mixed-positive evidence · 80% evidence

Exact sum: 11.2 + 16.4 + 15.2 + 10 = 52.8

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

11.2/35Growth & earnings

Revenue 7.2% · PAT 0.5% · OPM change -18.1 pp

95% evidence

16.4/25Capital efficiency

ROCE 4% · debt/equity 0.35×

80% evidence

15.2/20Valuation

P/E 3.5× · PEG 0.18

65% evidence

10.0/20Relative strength

RS sector -2.8% · RS bench 13.5% · 1Y 54.4%

70% evidence

12. Matson, Inc. · MATX

52.1/100 · Mixed-positive evidence · 86% evidence

Exact sum: 10.4 + 11.9 + 11.1 + 18.7 = 52.1

Decision use: Price leads the evidence: RS versus the benchmark is 30%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

10.4/35Growth & earnings

Revenue -4.6% · PAT -16% · OPM change -2.4 pp

95% evidence

11.9/25Capital efficiency

ROCE 1.5% · debt/equity 0.26×

80% evidence

11.1/20Valuation

P/E 12× · PEG 0.81

65% evidence

18.7/20Relative strength

RS sector 13.3% · RS bench 30% · 1Y 87.9%

100% evidence

13. Euroseas Ltd. · ESEA

52.0/100 · Mixed-positive evidence · 80% evidence

Exact sum: 9.9 + 16.4 + 15.9 + 9.8 = 52

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

9.9/35Growth & earnings

Revenue 2.3% · PAT 2.3% · OPM change -10.6 pp

95% evidence

16.4/25Capital efficiency

ROCE 5.4% · debt/equity 0.43×

80% evidence

15.9/20Valuation

P/E 3.5× · PEG 0.13

65% evidence

9.8/20Relative strength

RS sector -2.9% · RS bench 13.9% · 1Y 48.2%

70% evidence

14. Ardmore Shipping Corporation · ASC

51.7/100 · Mixed-positive evidence · 80% evidence

Exact sum: 15.8 + 15.1 + 12.7 + 8.1 = 51.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

15.8/35Growth & earnings

Revenue -13.1% · PAT -41% · OPM change 19.4 pp

95% evidence

15.1/25Capital efficiency

ROCE 3.6% · debt/equity 0.16×

80% evidence

12.7/20Valuation

P/E 11.5× · PEG 0.33

65% evidence

8.1/20Relative strength

RS sector -5.4% · RS bench 9.8% · 1Y 53.9%

70% evidence

15. Genco Shipping & Trading Limited · GNK

50.9/100 · Mixed-positive evidence · 62% evidence

Exact sum: 21.7 + 9.5 + 8.5 + 11.2 = 50.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.7/35Growth & earnings

Revenue 2.4% · PAT -62.2% · OPM change 25.3 pp

71% evidence

9.5/25Capital efficiency

ROCE 1.2% · debt/equity 0.36×

80% evidence

8.5/20Valuation

P/E 59.3× · PEG —

15% evidence

11.2/20Relative strength

RS sector -1.7% · RS bench 14.2% · 1Y 60.5%

70% evidence

16. Hafnia Limited · HAFN

46.4/100 · Mixed-negative evidence · 76% evidence

Exact sum: 17.7 + 14.6 + 10.4 + 3.7 = 46.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.7/35Growth & earnings

Revenue -8.3% · PAT -26.1% · OPM change 12.9 pp

95% evidence

14.6/25Capital efficiency

ROCE 5.8% · debt/equity 0.4×

80% evidence

10.4/20Valuation

P/E 8.4× · PEG —

15% evidence

3.7/20Relative strength

RS sector -10.7% · RS bench 4.1% · 1Y 37.8%

100% evidence

17. Diana Shipping Inc. · DSX

45.0/100 · Mixed-negative evidence · 80% evidence

Exact sum: 17.1 + 8.2 + 15.6 + 4.1 = 45

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.1/35Growth & earnings

Revenue -4.9% · PAT 100% · OPM change -4.2 pp

95% evidence

8.2/25Capital efficiency

ROCE 1% · debt/equity 1.17×

80% evidence

15.6/20Valuation

P/E 7.1× · PEG 0.1

65% evidence

4.1/20Relative strength

RS sector -15.8% · RS bench -2.4% · 1Y 45.6%

70% evidence

18. Pangaea Logistics Solutions Ltd. · PANL

45.0/100 · Mixed-negative evidence · 72% evidence

Exact sum: 23 + 8.3 + 7.7 + 6 = 45

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -11.4% and the one-year return is 64.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

23.0/35Growth & earnings

Revenue 22.9% · PAT 100% · OPM change 3.7 pp

71% evidence

8.3/25Capital efficiency

ROCE 1.3% · debt/equity 0.74×

80% evidence

7.7/20Valuation

P/E 12.9× · PEG 1.68

65% evidence

6.0/20Relative strength

RS sector -11.4% · RS bench 2.9% · 1Y 64.3%

70% evidence

19. Costamare Inc. · CMRE

42.9/100 · Mixed-negative evidence · 80% evidence

Exact sum: 12.6 + 14 + 13 + 3.3 = 42.9

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

12.6/35Growth & earnings

Revenue -52.7% · PAT 11.1% · OPM change -9.1 pp

95% evidence

14.0/25Capital efficiency

ROCE 2.5% · debt/equity 0.67×

80% evidence

13.0/20Valuation

P/E 6.3× · PEG 0.64

65% evidence

3.3/20Relative strength

RS sector -17.2% · RS bench -3.4% · 1Y 50.1%

70% evidence

20. Capital Clean Energy Carriers Corp. · CCEC

35.9/100 · Mixed-negative evidence · 80% evidence

Exact sum: 10.2 + 8.8 + 12.6 + 4.3 = 35.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

10.2/35Growth & earnings

Revenue 2% · PAT -0.5% · OPM change -13 pp

95% evidence

8.8/25Capital efficiency

ROCE 1.1% · debt/equity 1.72×

80% evidence

12.6/20Valuation

P/E 10.5× · PEG 0.6

65% evidence

4.3/20Relative strength

RS sector -16.3% · RS bench -0.7% · 1Y 1.3%

70% evidence

21. SEACOR Marine Holdings Inc. · SMHI

29.5/100 · Adverse evidence · 62% evidence

Exact sum: 9.3 + 3.9 + 8.9 + 7.4 = 29.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

9.3/35Growth & earnings

Revenue -18.2% · PAT — · OPM change -4.9 pp

71% evidence

3.9/25Capital efficiency

ROCE -1.1% · debt/equity 1.32×

80% evidence

8.9/20Valuation

P/E 21.2× · PEG —

15% evidence

7.4/20Relative strength

RS sector -9.3% · RS bench 6.5% · 1Y 65.7%

70% evidence

22. ZIM Integrated Shipping Services Ltd. · ZIM

20.3/100 · Adverse evidence · 76% evidence

Exact sum: 1.8 + 4.7 + 8.8 + 5 = 20.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

1.8/35Growth & earnings

Revenue -29.1% · PAT -95.8% · OPM change -24.4 pp

95% evidence

4.7/25Capital efficiency

ROCE -0.2% · debt/equity 1.43×

80% evidence

8.8/20Valuation

P/E 32.1× · PEG —

15% evidence

5.0/20Relative strength

RS sector -7.8% · RS bench 5.8% · 1Y 55.8%

100% evidence

23. Costamare Bulkers Holdings Limited · CMDB

45.8/100 · Thin evidence · provisional · 45% evidence

Exact sum: 16.7 + 10.4 + 10 + 8.7 = 45.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.7/35Growth & earnings

Revenue — · PAT — · OPM change -3.6 pp

32% evidence

10.4/25Capital efficiency

ROCE 1.7% · debt/equity 0.24×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

8.7/20Relative strength

RS sector -4.3% · RS bench 11.1% · 1Y 100.9%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

ZIM Integrated Shipping Services Ltd. has the highest Revenue among the 23 Marine Shipping companies compared here, at $6,295 million. Kirby Corporation is next at $3,422 million. Okeanis Eco Tankers Corp. has the highest Revenue growth at 33.1%, so level and change sit with different companies. 23 of 23 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: ZIM Integrated Shipping Services Ltd. is the scale leader at $6,295 million, 84% ahead of Kirby Corporation. Okeanis Eco Tankers Corp.'s growth is 33.1% from a $482 million base, with 17 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderZIM Integrated Shipping Services Ltd. · $6,295 million

Gap84% versus #2 · Kirby Corporation

Persistence4/8 recent comparable periods

Coverage23/23 companies · 432 observations

Investor read: ZIM Integrated Shipping Services Ltd. is the scale benchmark; Okeanis Eco Tankers Corp. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: ZIM Integrated Shipping Services Ltd.'s growth falls below Okeanis Eco Tankers Corp.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1ZIM Integrated Shipping Services Ltd. ZIM$6.3B

2Kirby Corporation KEX$3.4B

3Matson, Inc. MATX$3.3B

4Hafnia Limited HAFN$2.4B

5Navios Maritime Partners L.P. NMM$1.4B

Revenue growthfastest growers

1Okeanis Eco Tankers Corp. ECO33%

2Pangaea Logistics Solutions Ltd. PANL23%

3Himalaya Shipping Ltd. HSHP18%

4Seanergy Maritime Holdings Corp. SHIP15%

5Global Ship Lease, Inc. GSL7.2%

Revenue · company comparison

23/23 level · 22/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
ZIM Integrated Shipping Services Ltd. ZIM	$1.4B	-30%	Mar 2026
Kirby Corporation KEX	$844M	7.4%	Mar 2026
Matson, Inc. MATX	$758M	-3.1%	Mar 2026
Hafnia Limited HAFN	$689M	24%	Mar 2026
Navios Maritime Partners L.P. NMM	$357M	17%	Mar 2026
Star Bulk Carriers Corp. SBLK	$281M	22%	Mar 2026
Danaos Corporation DAC	$254M	0.4%	Mar 2026
Costamare Inc. CMRE	$211M	-5.4%	Mar 2026
Global Ship Lease, Inc. GSL	$198M	3.7%	Mar 2026
SFL Corporation Ltd. SFL	$174M	-7.0%	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	$171M	39%	Mar 2026
Okeanis Eco Tankers Corp. ECO	$170M	113%	Mar 2026
Genco Shipping & Trading Limited GNK	$114M	61%	Mar 2026
Costamare Bulkers Holdings Limited CMDB	$112M	—	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	$98M	-3.9%	Mar 2026
Ardmore Shipping Corporation ASC	$88M	19%	Mar 2026
Safe Bulkers, Inc. SB	$74M	16%	Mar 2026
Euroseas Ltd. ESEA	$56M	0.0%	Mar 2026
Diana Shipping Inc. DSX	$55M	0.0%	Mar 2026
SEACOR Marine Holdings Inc. SMHI	$44M	-20%	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	$43M	79%	Mar 2026
StealthGas Inc. GASS	$43M	2.4%	Mar 2026
Himalaya Shipping Ltd. HSHP	$34M	55%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021$40M

Sep 2021$43M

Dec 2021$64M

Mar 2022$73M

Jun 2022$74M

Sep 2022$72M

Dec 2022$80M

Mar 2023$81M

Jun 2023$89M

Sep 2023$64M

Dec 2023$64M

Mar 2024$76M

Jun 2024$98M

Sep 2024$106M

Dec 2024$86M

Mar 2025$102M

Jun 2025$104M

Sep 2025$100M

Dec 2025$98M

Mar 2026$98M

Costamare Inc. · CMRE

Jun 2021$167M

Sep 2021$216M

Dec 2021$284M

Mar 2022$268M

Jun 2022$291M

Sep 2022$289M

Dec 2022$265M

Mar 2023$249M

Jun 2023$367M

Sep 2023$400M

Dec 2023$495M

Mar 2024$475M

Jun 2024$515M

Sep 2024$545M

Dec 2024$548M

Mar 2025$223M

Jun 2025$218M

Sep 2025$225M

Dec 2025$212M

Mar 2026$211M

Danaos Corporation · DAC

Jun 2021$146M

Sep 2021$196M

Dec 2021$215M

Mar 2022$230M

Jun 2022$251M

Sep 2022$260M

Dec 2022$252M

Mar 2023$244M

Jun 2023$241M

Sep 2023$239M

Dec 2023$249M

Mar 2024$253M

Jun 2024$246M

Sep 2024$256M

Dec 2024$258M

Mar 2025$253M

Jun 2025$262M

Sep 2025$261M

Dec 2025$266M

Mar 2026$254M

Global Ship Lease, Inc. · GSL

Jun 2021$83M

Sep 2021$139M

Dec 2021$154M

Mar 2022$154M

Jun 2022$154M

Sep 2022$173M

Dec 2022$165M

Mar 2023$159M

Jun 2023$162M

Sep 2023$175M

Dec 2023$179M

Mar 2024$180M

Jun 2024$175M

Sep 2024$174M

Dec 2024$182M

Mar 2025$191M

Jun 2025$192M

Sep 2025$193M

Dec 2025$191M

Mar 2026$198M

Hafnia Limited · HAFN

Jun 2021$203M

Sep 2021$197M

Dec 2021$251M

Mar 2022$273M

Jun 2022$476M

Sep 2022$534M

Dec 2022$607M

Mar 2023$628M

Jun 2023$711M

Sep 2023$666M

Dec 2023$712M

Mar 2024$795M

Jun 2024$842M

Sep 2024$728M

Dec 2024$540M

Mar 2025$557M

Jun 2025$562M

Sep 2025$594M

Dec 2025$600M

Mar 2026$689M

Kirby Corporation · KEX

Jun 2021$560M

Sep 2021$599M

Dec 2021$591M

Mar 2022$611M

Jun 2022$698M

Sep 2022$746M

Dec 2022$730M

Mar 2023$750M

Jun 2023$777M

Sep 2023$765M

Dec 2023$799M

Mar 2024$808M

Jun 2024$824M

Sep 2024$831M

Dec 2024$802M

Mar 2025$786M

Jun 2025$855M

Sep 2025$871M

Dec 2025$852M

Mar 2026$844M

Matson, Inc. · MATX

Jun 2021$875M

Sep 2021$1.1B

Dec 2021$1.3B

Mar 2022$1.2B

Jun 2022$1.3B

Sep 2022$1.1B

Dec 2022$802M

Mar 2023$705M

Jun 2023$773M

Sep 2023$828M

Dec 2023$789M

Mar 2024$722M

Jun 2024$847M

Sep 2024$962M

Dec 2024$890M

Mar 2025$782M

Jun 2025$831M

Sep 2025$880M

Dec 2025$852M

Mar 2026$758M

Navios Maritime Partners L.P. · NMM

Jun 2021$152M

Sep 2021$228M

Dec 2021$268M

Mar 2022$237M

Jun 2022$281M

Sep 2022$322M

Dec 2022$371M

Mar 2023$310M

Jun 2023$347M

Sep 2023$323M

Dec 2023$327M

Mar 2024$319M

Jun 2024$342M

Sep 2024$341M

Dec 2024$333M

Mar 2025$304M

Jun 2025$328M

Sep 2025$347M

Dec 2025$366M

Mar 2026$357M

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022$42M

Jun 2022$50M

Sep 2022$69M

Dec 2022$110M

Mar 2023$113M

Jun 2023$120M

Sep 2023$89M

Dec 2023$92M

Mar 2024$111M

Jun 2024$112M

Sep 2024$85M

Dec 2024$85M

Mar 2025$80M

Jun 2025$94M

Sep 2025$91M

Dec 2025$127M

Mar 2026$170M

SFL Corporation Ltd. · SFL

Jun 2021$117M

Sep 2021$135M

Dec 2021$152M

Mar 2022$152M

Jun 2022$153M

Sep 2022$167M

Dec 2022$198M

Mar 2023$173M

Jun 2023$165M

Sep 2023$205M

Dec 2023$210M

Mar 2024$229M

Jun 2024$191M

Sep 2024$255M

Dec 2024$229M

Mar 2025$187M

Jun 2025$193M

Sep 2025$178M

Dec 2025$176M

Mar 2026$174M

Star Bulk Carriers Corp. · SBLK

Jun 2021$311M

Sep 2021$416M

Dec 2021$500M

Mar 2022$361M

Jun 2022$417M

Sep 2022$364M

Dec 2022$295M

Mar 2023$224M

Jun 2023$239M

Sep 2023$223M

Dec 2023$263M

Mar 2024$259M

Jun 2024$353M

Sep 2024$344M

Dec 2024$309M

Mar 2025$231M

Jun 2025$247M

Sep 2025$264M

Dec 2025$301M

Mar 2026$281M

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021$2.4B

Sep 2021$3.1B

Dec 2021$3.5B

Mar 2022$3.7B

Jun 2022$3.4B

Sep 2022$3.2B

Dec 2022$2.2B

Mar 2023$1.4B

Jun 2023$1.3B

Sep 2023$1.3B

Dec 2023$1.2B

Mar 2024$1.6B

Jun 2024$1.9B

Sep 2024$2.8B

Dec 2024$2.2B

Mar 2025$2.0B

Jun 2025$1.6B

Sep 2025$1.8B

Dec 2025$1.5B

Mar 2026$1.4B

Revenue growth · reported quarter history

Showing the 12 largest of 22 companies with a series here. The remaining 10 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202285%

Sep 202267%

Dec 202225%

Mar 202311%

Jun 202320%

Sep 2023-11%

Dec 2023-20%

Mar 2024-6.2%

Jun 202410%

Sep 202466%

Dec 202434%

Mar 202534%

Jun 20256.1%

Sep 2025-5.7%

Dec 202514%

Mar 2026-3.9%

Costamare Inc. · CMRE

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202274%

Sep 202234%

Dec 2022-6.7%

Mar 2023-7.1%

Jun 202326%

Sep 202338%

Dec 202387%

Mar 202491%

Jun 202440%

Sep 202436%

Dec 202411%

Mar 2025-53%

Jun 2025-58%

Sep 2025-59%

Dec 2025-61%

Mar 2026-5.4%

Danaos Corporation · DAC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202272%

Sep 202233%

Dec 202217%

Mar 20236.1%

Jun 2023-4.0%

Sep 2023-8.1%

Dec 2023-1.2%

Mar 20243.7%

Jun 20242.1%

Sep 20247.1%

Dec 20243.6%

Mar 20250.0%

Jun 20256.5%

Sep 20252.0%

Dec 20253.1%

Mar 20260.4%

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202286%

Sep 202224%

Dec 20227.1%

Mar 20233.3%

Jun 20235.2%

Sep 20231.2%

Dec 20238.5%

Mar 202413%

Jun 20248.0%

Sep 2024-0.6%

Dec 20241.7%

Mar 20256.1%

Jun 20259.7%

Sep 202511%

Dec 20255.0%

Mar 20263.7%

Hafnia Limited · HAFN

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022134%

Sep 2022171%

Dec 2022142%

Mar 2023130%

Jun 202349%

Sep 202325%

Dec 202317%

Mar 202427%

Jun 202418%

Sep 20249.3%

Dec 2024-24%

Mar 2025-30%

Jun 2025-33%

Sep 2025-18%

Dec 202511%

Mar 202624%

Kirby Corporation · KEX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202225%

Sep 202225%

Dec 202224%

Mar 202323%

Jun 202311%

Sep 20232.6%

Dec 20239.5%

Mar 20247.7%

Jun 20246.1%

Sep 20248.6%

Dec 20240.4%

Mar 2025-2.7%

Jun 20253.8%

Sep 20254.8%

Dec 20256.2%

Mar 20267.4%

Matson, Inc. · MATX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202244%

Sep 20224.0%

Dec 2022-37%

Mar 2023-40%

Jun 2023-39%

Sep 2023-26%

Dec 2023-1.6%

Mar 20242.4%

Jun 20249.6%

Sep 202416%

Dec 202413%

Mar 20258.3%

Jun 2025-1.9%

Sep 2025-8.5%

Dec 2025-4.3%

Mar 2026-3.1%

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202285%

Sep 202241%

Dec 202238%

Mar 202331%

Jun 202323%

Sep 20230.3%

Dec 2023-12%

Mar 20242.9%

Jun 2024-1.4%

Sep 20245.6%

Dec 20241.8%

Mar 2025-4.7%

Jun 2025-4.1%

Sep 20251.8%

Dec 20259.9%

Mar 202617%

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023169%

Jun 2023140%

Sep 202329%

Dec 2023-16%

Mar 2024-1.8%

Jun 2024-6.7%

Sep 2024-4.5%

Dec 2024-7.6%

Mar 2025-28%

Jun 2025-16%

Sep 20257.1%

Dec 202549%

Mar 2026113%

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202231%

Sep 202224%

Dec 202230%

Mar 202314%

Jun 20237.8%

Sep 202323%

Dec 20236.1%

Mar 202432%

Jun 202416%

Sep 202424%

Dec 20249.1%

Mar 2025-18%

Jun 20251.1%

Sep 2025-30%

Dec 2025-23%

Mar 2026-7.0%

Star Bulk Carriers Corp. · SBLK

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202234%

Sep 2022-13%

Dec 2022-41%

Mar 2023-38%

Jun 2023-43%

Sep 2023-39%

Dec 2023-11%

Mar 202416%

Jun 202448%

Sep 202454%

Dec 202417%

Mar 2025-11%

Jun 2025-30%

Sep 2025-23%

Dec 2025-2.6%

Mar 202622%

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202244%

Sep 20222.9%

Dec 2022-37%

Mar 2023-63%

Jun 2023-62%

Sep 2023-61%

Dec 2023-45%

Mar 202414%

Jun 202448%

Sep 2024117%

Dec 202480%

Mar 202528%

Jun 2025-15%

Sep 2025-36%

Dec 2025-32%

Mar 2026-30%

02 · compare level, then change

Operating Economics & Margin Trend

Euroseas Ltd. has the highest OPM among the 23 Marine Shipping companies compared here, at 61.2%. Okeanis Eco Tankers Corp. is next at 57.6%. Seanergy Maritime Holdings Corp. has the highest Margin change at +43.9 percentage points, so level and change sit with different companies. 23 of 23 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Euroseas Ltd. leads opm at 61.2%; Seanergy Maritime Holdings Corp. leads margin change at +43.9 percentage points.

LeaderEuroseas Ltd. · 61.2%

Gap6.3% versus #2 · Okeanis Eco Tankers Corp.

Persistence4/8 recent comparable periods

Coverage23/23 companies · 432 observations

Investor read: Euroseas Ltd. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Euroseas Ltd. ESEA61%

2Okeanis Eco Tankers Corp. ECO58%

3Himalaya Shipping Ltd. HSHP51%

4Danaos Corporation DAC49%

5Global Ship Lease, Inc. GSL49%

Margin changefastest expanders

1Seanergy Maritime Holdings Corp. SHIP+43.9 pp

2Okeanis Eco Tankers Corp. ECO+29.8 pp

3SFL Corporation Ltd. SFL+26.6 pp

4Genco Shipping & Trading Limited GNK+25.3 pp

5Star Bulk Carriers Corp. SBLK+22.9 pp

Operating margin · company comparison

23/23 level · 23/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Euroseas Ltd. ESEA	61%	−10.6 pp	Mar 2026
Okeanis Eco Tankers Corp. ECO	58%	+29.8 pp	Mar 2026
Himalaya Shipping Ltd. HSHP	51%	+21.7 pp	Mar 2026
Danaos Corporation DAC	49%	+1.8 pp	Mar 2026
Global Ship Lease, Inc. GSL	49%	−18.1 pp	Mar 2026
Costamare Inc. CMRE	46%	−9.1 pp	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	45%	−13.0 pp	Mar 2026
Navios Maritime Partners L.P. NMM	38%	+13.4 pp	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	37%	+43.9 pp	Mar 2026
Safe Bulkers, Inc. SB	36%	+12.4 pp	Mar 2026
StealthGas Inc. GASS	32%	+2.4 pp	Mar 2026
SFL Corporation Ltd. SFL	32%	+26.6 pp	Mar 2026
Ardmore Shipping Corporation ASC	29%	+19.4 pp	Mar 2026
Hafnia Limited HAFN	27%	+12.9 pp	Mar 2026
Star Bulk Carriers Corp. SBLK	26%	+22.9 pp	Mar 2026
Diana Shipping Inc. DSX	21%	−4.2 pp	Mar 2026
Kirby Corporation KEX	13%	−0.6 pp	Mar 2026
Costamare Bulkers Holdings Limited CMDB	12%	−3.6 pp	Mar 2026
Genco Shipping & Trading Limited GNK	12%	+25.3 pp	Mar 2026
Matson, Inc. MATX	8.1%	−2.4 pp	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	6.1%	+3.7 pp	Mar 2026
ZIM Integrated Shipping Services Ltd. ZIM	-1.3%	−24.4 pp	Mar 2026
SEACOR Marine Holdings Inc. SMHI	-14%	−4.9 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 202199%

Sep 202135%

Dec 202178%

Mar 202245%

Jun 202245%

Sep 202244%

Dec 202247%

Mar 202344%

Jun 202334%

Sep 202348%

Dec 202342%

Mar 202447%

Jun 202466%

Sep 202454%

Dec 202495%

Mar 202558%

Jun 202554%

Sep 202550%

Dec 202554%

Mar 202645%

Costamare Inc. · CMRE

Jun 202149%

Sep 202157%

Dec 202164%

Mar 202255%

Jun 202252%

Sep 202251%

Dec 202282%

Mar 202362%

Jun 202333%

Sep 202321%

Dec 202322%

Mar 202422%

Jun 202425%

Sep 202419%

Dec 202423%

Mar 202555%

Jun 202553%

Sep 202552%

Dec 202548%

Mar 202646%

Danaos Corporation · DAC

Jun 202150%

Sep 202157%

Dec 202154%

Mar 202261%

Jun 202263%

Sep 202264%

Dec 202275%

Mar 202363%

Jun 202361%

Sep 202361%

Dec 202353%

Mar 202455%

Jun 202457%

Sep 202452%

Dec 202449%

Mar 202548%

Jun 202548%

Sep 202550%

Dec 202546%

Mar 202649%

Global Ship Lease, Inc. · GSL

Jun 202155%

Sep 20210.0%

Dec 202154%

Mar 202255%

Jun 202254%

Sep 202259%

Dec 202252%

Mar 202353%

Jun 202353%

Sep 202354%

Dec 20230.0%

Mar 202454%

Jun 202454%

Sep 20240.0%

Dec 20240.0%

Mar 202567%

Jun 202553%

Sep 20250.0%

Dec 202555%

Mar 202649%

Hafnia Limited · HAFN

Jun 2021-0.5%

Sep 2021-4.0%

Dec 20212.5%

Mar 202213%

Jun 202243%

Sep 202256%

Dec 202246%

Mar 202345%

Jun 202332%

Sep 202325%

Dec 202325%

Mar 202429%

Jun 202431%

Sep 202430%

Dec 202417%

Mar 202514%

Jun 202515%

Sep 202517%

Dec 202518%

Mar 202627%

Kirby Corporation · KEX

Jun 20214.3%

Sep 2021-53%

Dec 20215.3%

Mar 20224.9%

Jun 20226.7%

Sep 20227.9%

Dec 20227.9%

Mar 20238.2%

Jun 202311%

Sep 202312%

Dec 202312%

Mar 202413%

Jun 202415%

Sep 202415%

Dec 20246.3%

Mar 202513%

Jun 202515%

Sep 202515%

Dec 202515%

Mar 202613%

Matson, Inc. · MATX

Jun 202124%

Sep 202135%

Dec 202138%

Mar 202237%

Jun 202239%

Sep 202230%

Dec 202212%

Mar 20235.5%

Jun 202313%

Sep 202316%

Dec 20239.5%

Mar 20245.1%

Jun 202415%

Sep 202425%

Dec 202417%

Mar 202511%

Jun 202514%

Sep 202518%

Dec 202517%

Mar 20268.1%

Navios Maritime Partners L.P. · NMM

Jun 202172%

Sep 202177%

Dec 202152%

Mar 202242%

Jun 202248%

Sep 202289%

Dec 202242%

Mar 202345%

Jun 202342%

Sep 202338%

Dec 202334%

Mar 202432%

Jun 202438%

Sep 202437%

Dec 202438%

Mar 202525%

Jun 202532%

Sep 202526%

Dec 202541%

Mar 202638%

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 202219%

Jun 202229%

Sep 202240%

Dec 202254%

Mar 202357%

Jun 202356%

Sep 202340%

Dec 202337%

Mar 202450%

Jun 202448%

Sep 202432%

Dec 202431%

Mar 202528%

Jun 202539%

Sep 202538%

Dec 202554%

Mar 202658%

SFL Corporation Ltd. · SFL

Jun 202137%

Sep 202140%

Dec 202168%

Mar 202239%

Jun 202250%

Sep 202239%

Dec 202238%

Mar 202329%

Jun 202332%

Sep 202332%

Dec 202335%

Mar 202437%

Jun 202433%

Sep 202437%

Dec 202428%

Mar 20255.7%

Jun 202524%

Sep 202527%

Dec 202518%

Mar 202632%

Star Bulk Carriers Corp. · SBLK

Jun 202147%

Sep 202156%

Dec 202164%

Mar 202252%

Jun 202250%

Sep 202233%

Dec 202231%

Mar 202316%

Jun 202323%

Sep 202331%

Dec 202325%

Mar 202435%

Jun 202432%

Sep 202426%

Dec 202416%

Mar 20252.8%

Jun 20258.0%

Sep 202514%

Dec 202527%

Mar 202626%

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 202149%

Sep 202159%

Dec 202161%

Mar 202260%

Jun 202252%

Sep 202248%

Dec 202227%

Mar 2023-1.0%

Jun 2023-13%

Sep 2023-179%

Dec 2023-4.4%

Mar 202411%

Jun 202424%

Sep 202445%

Dec 202430%

Mar 202523%

Jun 20259.1%

Sep 202515%

Dec 20259.6%

Mar 2026-1.3%

Margin change · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−54.6 pp

Sep 2022+8.3 pp

Dec 2022−30.2 pp

Mar 2023−0.9 pp

Jun 2023−10.9 pp

Sep 2023+4.1 pp

Dec 2023−5.8 pp

Mar 2024+2.3 pp

Jun 2024+32.3 pp

Sep 2024+6.1 pp

Dec 2024+53.5 pp

Mar 2025+11.0 pp

Jun 2025−11.9 pp

Sep 2025−3.6 pp

Dec 2025−40.6 pp

Mar 2026−13.0 pp

Costamare Inc. · CMRE

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+2.7 pp

Sep 2022−6.4 pp

Dec 2022+17.7 pp

Mar 2023+7.3 pp

Jun 2023−18.6 pp

Sep 2023−29.5 pp

Dec 2023−60.5 pp

Mar 2024−40.6 pp

Jun 2024−8.6 pp

Sep 2024−1.9 pp

Dec 2024+1.7 pp

Mar 2025+33.5 pp

Jun 2025+27.8 pp

Sep 2025+33.2 pp

Dec 2025+24.3 pp

Mar 2026−9.1 pp

Danaos Corporation · DAC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+12.8 pp

Sep 2022+6.6 pp

Dec 2022+21.6 pp

Mar 2023+2.5 pp

Jun 2023−1.4 pp

Sep 2023−2.6 pp

Dec 2023−22.5 pp

Mar 2024−8.0 pp

Jun 2024−4.3 pp

Sep 2024−9.6 pp

Dec 2024−4.3 pp

Mar 2025−7.9 pp

Jun 2025−8.9 pp

Sep 2025−1.8 pp

Dec 2025−2.4 pp

Mar 2026+1.8 pp

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.7 pp

Sep 2022+59.0 pp

Dec 2022−1.9 pp

Mar 2023−1.1 pp

Jun 2023−1.6 pp

Sep 2023−5.1 pp

Dec 2023−51.6 pp

Mar 2024+0.7 pp

Jun 2024+1.1 pp

Sep 2024−53.9 pp

Dec 20240.0 pp

Mar 2025+13.2 pp

Jun 2025−0.6 pp

Sep 20250.0 pp

Dec 2025+55.3 pp

Mar 2026−18.1 pp

Hafnia Limited · HAFN

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+43.9 pp

Sep 2022+59.8 pp

Dec 2022+43.8 pp

Mar 2023+31.3 pp

Jun 2023−11.1 pp

Sep 2023−30.7 pp

Dec 2023−21.0 pp

Mar 2024−15.4 pp

Jun 2024−1.2 pp

Sep 2024+5.0 pp

Dec 2024−8.3 pp

Mar 2025−15.7 pp

Jun 2025−16.3 pp

Sep 2025−13.1 pp

Dec 2025+1.3 pp

Mar 2026+12.9 pp

Kirby Corporation · KEX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+2.4 pp

Sep 2022+60.8 pp

Dec 2022+2.6 pp

Mar 2023+3.3 pp

Jun 2023+4.5 pp

Sep 2023+4.3 pp

Dec 2023+3.7 pp

Mar 2024+4.4 pp

Jun 2024+3.4 pp

Sep 2024+3.1 pp

Dec 2024−5.3 pp

Mar 2025+0.8 pp

Jun 2025+0.8 pp

Sep 2025−0.5 pp

Dec 2025+8.9 pp

Mar 2026−0.6 pp

Matson, Inc. · MATX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+14.7 pp

Sep 2022−5.2 pp

Dec 2022−25.9 pp

Mar 2023−31.6 pp

Jun 2023−26.6 pp

Sep 2023−14.1 pp

Dec 2023−2.1 pp

Mar 2024−0.4 pp

Jun 2024+2.2 pp

Sep 2024+9.2 pp

Dec 2024+7.1 pp

Mar 2025+5.4 pp

Jun 2025−1.1 pp

Sep 2025−6.9 pp

Dec 2025+0.3 pp

Mar 2026−2.4 pp

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−24.6 pp

Sep 2022+11.4 pp

Dec 2022−10.5 pp

Mar 2023+2.7 pp

Jun 2023−5.7 pp

Sep 2023−51.3 pp

Dec 2023−7.6 pp

Mar 2024−12.7 pp

Jun 2024−3.6 pp

Sep 2024−1.0 pp

Dec 2024+4.3 pp

Mar 2025−7.4 pp

Jun 2025−6.9 pp

Sep 2025−10.6 pp

Dec 2025+3.0 pp

Mar 2026+13.4 pp

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023+38.0 pp

Jun 2023+26.8 pp

Sep 2023−0.4 pp

Dec 2023−17.1 pp

Mar 2024−7.6 pp

Jun 2024−8.3 pp

Sep 2024−7.5 pp

Dec 2024−5.6 pp

Mar 2025−21.8 pp

Jun 2025−8.6 pp

Sep 2025+6.0 pp

Dec 2025+22.7 pp

Mar 2026+29.8 pp

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+12.8 pp

Sep 2022−1.2 pp

Dec 2022−30.0 pp

Mar 2023−10.1 pp

Jun 2023−18.3 pp

Sep 2023−7.3 pp

Dec 2023−2.8 pp

Mar 2024+8.5 pp

Jun 2024+1.1 pp

Sep 2024+5.0 pp

Dec 2024−6.5 pp

Mar 2025−31.6 pp

Jun 2025−9.0 pp

Sep 2025−9.6 pp

Dec 2025−10.2 pp

Mar 2026+26.6 pp

Star Bulk Carriers Corp. · SBLK

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+3.8 pp

Sep 2022−22.8 pp

Dec 2022−33.0 pp

Mar 2023−36.4 pp

Jun 2023−27.4 pp

Sep 2023−2.1 pp

Dec 2023−6.0 pp

Mar 2024+19.7 pp

Jun 2024+8.7 pp

Sep 2024−5.1 pp

Dec 2024−9.4 pp

Mar 2025−32.5 pp

Jun 2025−23.6 pp

Sep 2025−12.0 pp

Dec 2025+11.2 pp

Mar 2026+22.9 pp

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+2.9 pp

Sep 2022−11.5 pp

Dec 2022−34.4 pp

Mar 2023−61.3 pp

Jun 2023−64.3 pp

Sep 2023−226.6 pp

Dec 2023−31.1 pp

Mar 2024+11.7 pp

Jun 2024+37.0 pp

Sep 2024+223.5 pp

Dec 2024+34.7 pp

Mar 2025+12.4 pp

Jun 2025−15.1 pp

Sep 2025−30.1 pp

Dec 2025−20.7 pp

Mar 2026−24.4 pp

03 · compare level, then change

Profit Scale & Acceleration

Danaos Corporation has the highest Net profit among the 23 Marine Shipping companies compared here, at $520 million. Hafnia Limited is next at $457 million. Diana Shipping Inc. has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Danaos Corporation leads with $520 million of TTM profit, 13.8% above Hafnia Limited. Diana Shipping Inc. shows ≥100% on the scoring scale (214.3% uncapped) growth from a $44 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderDanaos Corporation · $520 million

Gap13.8% versus #2 · Hafnia Limited

Persistence3/8 recent comparable periods

Coverage23/23 companies · 434 observations

Investor read: Danaos Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Danaos Corporation DAC$520M

2Hafnia Limited HAFN$457M

3Matson, Inc. MATX$430M

4Global Ship Lease, Inc. GSL$387M

5Kirby Corporation KEX$360M

Profit growthfastest growers

1Diana Shipping Inc. DSX100%

2Okeanis Eco Tankers Corp. ECO100%

3StealthGas Inc. GASS78%

4Kirby Corporation KEX23%

5Costamare Inc. CMRE11%

Net profit · company comparison

23/23 level · 15/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Hafnia Limited HAFN	$180M	186%	Mar 2026
Danaos Corporation DAC	$140M	22%	Mar 2026
Navios Maritime Partners L.P. NMM	$106M	152%	Mar 2026
Global Ship Lease, Inc. GSL	$94M	-24%	Mar 2026
Okeanis Eco Tankers Corp. ECO	$88M	577%	Mar 2026
Costamare Inc. CMRE	$82M	-19%	Mar 2026
Kirby Corporation KEX	$81M	6.6%	Mar 2026
Star Bulk Carriers Corp. SBLK	$59M	55%	Mar 2026
Matson, Inc. MATX	$57M	-21%	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	$44M	-25%	Mar 2026
Euroseas Ltd. ESEA	$33M	-11%	Mar 2026
Diana Shipping Inc. DSX	$29M	867%	Mar 2026
SFL Corporation Ltd. SFL	$25M	-125%	Mar 2026
Ardmore Shipping Corporation ASC	$24M	300%	Mar 2026
Safe Bulkers, Inc. SB	$22M	214%	Mar 2026
StealthGas Inc. GASS	$15M	67%	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	$14M	33%	Mar 2026
Genco Shipping & Trading Limited GNK	$10M	25%	Mar 2026
Costamare Bulkers Holdings Limited CMDB	$10M	-189%	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	$10M	71%	Mar 2026
Himalaya Shipping Ltd. HSHP	$5M	1,300%	Mar 2026
SEACOR Marine Holdings Inc. SMHI	$-16M	-660%	Mar 2026
ZIM Integrated Shipping Services Ltd. ZIM	$-86M	-129%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021$40M

Sep 2021$15M

Dec 2021$49M

Mar 2022$33M

Jun 2022$33M

Sep 2022$79M

Dec 2022$38M

Mar 2023$36M

Jun 2023$30M

Sep 2023$31M

Dec 2023$27M

Mar 2024$35M

Jun 2024$42M

Sep 2024$57M

Dec 2024$48M

Mar 2025$59M

Jun 2025$57M

Sep 2025$50M

Dec 2025$54M

Mar 2026$44M

Costamare Inc. · CMRE

Jun 2021$91M

Sep 2021$115M

Dec 2021$161M

Mar 2022$123M

Jun 2022$122M

Sep 2022$115M

Dec 2022$194M

Mar 2023$149M

Jun 2023$67M

Sep 2023$60M

Dec 2023$105M

Mar 2024$103M

Jun 2024$103M

Sep 2024$79M

Dec 2024$32M

Mar 2025$101M

Jun 2025$90M

Sep 2025$99M

Dec 2025$79M

Mar 2026$82M

Danaos Corporation · DAC

Jun 2021$373M

Sep 2021$217M

Dec 2021$166M

Mar 2022$331M

Jun 2022$8M

Sep 2022$67M

Dec 2022$153M

Mar 2023$146M

Jun 2023$147M

Sep 2023$133M

Dec 2023$150M

Mar 2024$150M

Jun 2024$141M

Sep 2024$123M

Dec 2024$90M

Mar 2025$115M

Jun 2025$131M

Sep 2025$131M

Dec 2025$118M

Mar 2026$140M

Global Ship Lease, Inc. · GSL

Jun 2021$32M

Sep 2021$65M

Dec 2021$68M

Mar 2022$70M

Jun 2022$56M

Sep 2022$92M

Dec 2022$75M

Mar 2023$75M

Jun 2023$78M

Sep 2023$85M

Dec 2023$67M

Mar 2024$92M

Jun 2024$88M

Sep 2024$81M

Dec 2024$93M

Mar 2025$123M

Jun 2025$95M

Sep 2025$95M

Dec 2025$103M

Mar 2026$94M

Hafnia Limited · HAFN

Jun 2021$-11M

Sep 2021$-21M

Dec 2021$-8M

Mar 2022$21M

Jun 2022$186M

Sep 2022$280M

Dec 2022$264M

Mar 2023$257M

Jun 2023$213M

Sep 2023$147M

Dec 2023$176M

Mar 2024$220M

Jun 2024$259M

Sep 2024$216M

Dec 2024$80M

Mar 2025$63M

Jun 2025$75M

Sep 2025$92M

Dec 2025$110M

Mar 2026$180M

Kirby Corporation · KEX

Jun 2021$10M

Sep 2021$-265M

Dec 2021$11M

Mar 2022$18M

Jun 2022$29M

Sep 2022$39M

Dec 2022$37M

Mar 2023$41M

Jun 2023$57M

Sep 2023$63M

Dec 2023$62M

Mar 2024$70M

Jun 2024$84M

Sep 2024$90M

Dec 2024$43M

Mar 2025$76M

Jun 2025$94M

Sep 2025$93M

Dec 2025$92M

Mar 2026$81M

Matson, Inc. · MATX

Jun 2021$163M

Sep 2021$283M

Dec 2021$395M

Mar 2022$339M

Jun 2022$381M

Sep 2022$266M

Dec 2022$78M

Mar 2023$34M

Jun 2023$81M

Sep 2023$120M

Dec 2023$62M

Mar 2024$36M

Jun 2024$113M

Sep 2024$199M

Dec 2024$128M

Mar 2025$72M

Jun 2025$95M

Sep 2025$135M

Dec 2025$143M

Mar 2026$57M

Navios Maritime Partners L.P. · NMM

Jun 2021$100M

Sep 2021$158M

Dec 2021$116M

Mar 2022$86M

Jun 2022$118M

Sep 2022$257M

Dec 2022$118M

Mar 2023$99M

Jun 2023$112M

Sep 2023$90M

Dec 2023$132M

Mar 2024$73M

Jun 2024$101M

Sep 2024$98M

Dec 2024$95M

Mar 2025$42M

Jun 2025$70M

Sep 2025$56M

Dec 2025$117M

Mar 2026$106M

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022$9M

Jun 2022$8M

Sep 2022$19M

Dec 2022$48M

Mar 2023$52M

Jun 2023$53M

Sep 2023$19M

Dec 2023$21M

Mar 2024$42M

Jun 2024$40M

Sep 2024$15M

Dec 2024$13M

Mar 2025$13M

Jun 2025$27M

Sep 2025$24M

Dec 2025$59M

Mar 2026$88M

SFL Corporation Ltd. · SFL

Jun 2021$19M

Sep 2021$32M

Dec 2021$81M

Mar 2022$46M

Jun 2022$57M

Sep 2022$49M

Dec 2022$51M

Mar 2023$6M

Jun 2023$16M

Sep 2023$29M

Dec 2023$31M

Mar 2024$45M

Jun 2024$20M

Sep 2024$44M

Dec 2024$20M

Mar 2025$-32M

Jun 2025$1M

Sep 2025$8M

Dec 2025$-5M

Mar 2026$25M

Star Bulk Carriers Corp. · SBLK

Jun 2021$124M

Sep 2021$220M

Dec 2021$300M

Mar 2022$170M

Jun 2022$200M

Sep 2022$110M

Dec 2022$86M

Mar 2023$46M

Jun 2023$44M

Sep 2023$44M

Dec 2023$40M

Mar 2024$75M

Jun 2024$106M

Sep 2024$81M

Dec 2024$42M

Mar 2025$0M

Jun 2025$0M

Sep 2025$19M

Dec 2025$65M

Mar 2026$59M

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021$888M

Sep 2021$1.5B

Dec 2021$1.7B

Mar 2022$1.7B

Jun 2022$1.3B

Sep 2022$1.2B

Dec 2022$417M

Mar 2023$-58M

Jun 2023$-213M

Sep 2023$-2.3B

Dec 2023$-147M

Mar 2024$92M

Jun 2024$373M

Sep 2024$1.1B

Dec 2024$563M

Mar 2025$296M

Jun 2025$24M

Sep 2025$123M

Dec 2025$38M

Mar 2026$-86M

Profit growth · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-18%

Sep 2022427%

Dec 2022-22%

Mar 20239.1%

Jun 2023-9.1%

Sep 2023-61%

Dec 2023-29%

Mar 2024-2.8%

Jun 202440%

Sep 202484%

Dec 202478%

Mar 202569%

Jun 202536%

Sep 2025-12%

Dec 202513%

Mar 2026-25%

Costamare Inc. · CMRE

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202234%

Sep 20220.0%

Dec 202221%

Mar 202321%

Jun 2023-45%

Sep 2023-48%

Dec 2023-46%

Mar 2024-31%

Jun 202454%

Sep 202432%

Dec 2024-70%

Mar 2025-1.9%

Jun 2025-13%

Sep 202525%

Dec 2025147%

Mar 2026-19%

Danaos Corporation · DAC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-98%

Sep 2022-69%

Dec 2022-7.8%

Mar 2023-56%

Jun 20231,738%

Sep 202399%

Dec 2023-2.0%

Mar 20242.7%

Jun 2024-4.1%

Sep 2024-7.5%

Dec 2024-40%

Mar 2025-23%

Jun 2025-7.1%

Sep 20256.5%

Dec 202531%

Mar 202622%

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202275%

Sep 202242%

Dec 202210%

Mar 20237.1%

Jun 202339%

Sep 2023-7.6%

Dec 2023-11%

Mar 202423%

Jun 202413%

Sep 2024-4.7%

Dec 202439%

Mar 202534%

Jun 20258.0%

Sep 202517%

Dec 202511%

Mar 2026-24%

Hafnia Limited · HAFN

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20231,124%

Jun 202315%

Sep 2023-48%

Dec 2023-33%

Mar 2024-14%

Jun 202422%

Sep 202447%

Dec 2024-55%

Mar 2025-71%

Jun 2025-71%

Sep 2025-57%

Dec 202538%

Mar 2026186%

Kirby Corporation · KEX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022190%

Sep 2022—

Dec 2022236%

Mar 2023128%

Jun 202397%

Sep 202362%

Dec 202368%

Mar 202471%

Jun 202447%

Sep 202443%

Dec 2024-31%

Mar 20258.6%

Jun 202512%

Sep 20253.3%

Dec 2025114%

Mar 20266.6%

Matson, Inc. · MATX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022134%

Sep 2022-6.0%

Dec 2022-80%

Mar 2023-90%

Jun 2023-79%

Sep 2023-55%

Dec 2023-21%

Mar 20245.9%

Jun 202440%

Sep 202466%

Dec 2024106%

Mar 2025100%

Jun 2025-16%

Sep 2025-32%

Dec 202512%

Mar 2026-21%

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202263%

Dec 20221.7%

Mar 202315%

Jun 2023-5.1%

Sep 2023-65%

Dec 202312%

Mar 2024-26%

Jun 2024-9.8%

Sep 20248.9%

Dec 2024-28%

Mar 2025-42%

Jun 2025-31%

Sep 2025-43%

Dec 202523%

Mar 2026152%

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023478%

Jun 2023563%

Sep 20230.0%

Dec 2023-56%

Mar 2024-19%

Jun 2024-25%

Sep 2024-21%

Dec 2024-38%

Mar 2025-69%

Jun 2025-33%

Sep 202560%

Dec 2025354%

Mar 2026577%

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022200%

Sep 202253%

Dec 2022-37%

Mar 2023-87%

Jun 2023-72%

Sep 2023-41%

Dec 2023-39%

Mar 2024650%

Jun 202425%

Sep 202452%

Dec 2024-35%

Mar 2025-171%

Jun 2025-95%

Sep 2025-82%

Dec 2025-125%

Mar 2026—

Star Bulk Carriers Corp. · SBLK

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202261%

Sep 2022-50%

Dec 2022-71%

Mar 2023-73%

Jun 2023-78%

Sep 2023-60%

Dec 2023-53%

Mar 202463%

Jun 2024141%

Sep 202484%

Dec 20245.0%

Mar 2025-100%

Jun 2025-100%

Sep 2025-77%

Dec 202555%

Mar 2026—

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202250%

Sep 2022-20%

Dec 2022-76%

Mar 2023-103%

Jun 2023-116%

Sep 2023-295%

Dec 2023-135%

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025222%

Jun 2025-94%

Sep 2025-89%

Dec 2025-93%

Mar 2026-129%

04 · compare level, then change

Capacity Spending & Returns On It

Okeanis Eco Tankers Corp. has the highest CAPEX among the 23 Marine Shipping companies compared here, at $242 million. Navios Maritime Partners L.P. is next at $192 million. The same company also holds the highest CAPEX intensity, at 142.4%. 23 of 23 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Okeanis Eco Tankers Corp. reports $242 million of CAPEX; Okeanis Eco Tankers Corp. has the highest covered intensity at 142.4%. Coverage is only 23 of 23 companies and 394 reported observations, so this is partial evidence—not a complete sector rank.

LeaderOkeanis Eco Tankers Corp. · $242 million

Gap26% versus #2 · Navios Maritime Partners L.P.

Persistence7/8 recent comparable periods

Coverage23/23 companies · 394 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1Okeanis Eco Tankers Corp. ECO$242M

2Navios Maritime Partners L.P. NMM$192M

3Danaos Corporation DAC$152M

4Genco Shipping & Trading Limited GNK$134M

5Capital Clean Energy Carriers Corp. CCEC$95M

CAPEX intensityhighest reinvestment intensity

1Okeanis Eco Tankers Corp. ECO142%

2Genco Shipping & Trading Limited GNK118%

3Capital Clean Energy Carriers Corp. CCEC97%

4Danaos Corporation DAC60%

5Navios Maritime Partners L.P. NMM54%

Capital expenditure · company comparison

23/23 level · 23/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
Okeanis Eco Tankers Corp. ECO	$242M	142%	Mar 2026
Navios Maritime Partners L.P. NMM	$192M	54%	Mar 2026
Danaos Corporation DAC	$152M	60%	Mar 2026
Genco Shipping & Trading Limited GNK	$134M	118%	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	$95M	97%	Mar 2026
Kirby Corporation KEX	$48M	5.7%	Mar 2026
Matson, Inc. MATX	$48M	6.3%	Mar 2026
ZIM Integrated Shipping Services Ltd. ZIM	$31M	2.2%	Mar 2026
Safe Bulkers, Inc. SB	$24M	26%	Mar 2026
Hafnia Limited HAFN	$21M	3.0%	Mar 2026
Star Bulk Carriers Corp. SBLK	$20M	7.1%	Mar 2026
Costamare Inc. CMRE	$16M	7.6%	Mar 2026
Euroseas Ltd. ESEA	$10M	18%	Mar 2026
SFL Corporation Ltd. SFL	$7M	4.0%	Mar 2026
Costamare Bulkers Holdings Limited CMDB	$6M	5.4%	Mar 2026
SEACOR Marine Holdings Inc. SMHI	$6M	14%	Mar 2026
Ardmore Shipping Corporation ASC	$2M	2.3%	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	$2M	1.2%	Mar 2026
Global Ship Lease, Inc. GSL	$1M	0.5%	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	$1M	2.0%	Mar 2026
Diana Shipping Inc. DSX	$1M	1.9%	Mar 2026
Himalaya Shipping Ltd. HSHP	$0M	0.0%	Mar 2026
StealthGas Inc. GASS	$0M	0.0%	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021$0M

Sep 2021$66M

Dec 2021$266M

Mar 2022$1M

Jun 2022$0M

Sep 2022$1M

Dec 2022$115M

Mar 2023$335M

Jun 2023$121M

Sep 2023$5M

Dec 2023$16M

Mar 2024$245M

Jun 2024$890M

Sep 2024$60M

Dec 2024$6M

Mar 2025$51M

Jun 2025$80M

Sep 2025$50M

Dec 2025$135M

Mar 2026$95M

Costamare Inc. · CMRE

Jun 2021$208M

Sep 2021$294M

Dec 2021$347M

Mar 2022$50M

Jun 2022$4M

Sep 2022$3M

Dec 2022$6M

Mar 2023$4M

Jun 2023$4M

Sep 2023$66M

Dec 2023—

Mar 2024$24M

Jun 2024—

Sep 2024—

Dec 2024$2M

Mar 2025$5M

Jun 2025—

Sep 2025—

Dec 2025$19M

Mar 2026$16M

Danaos Corporation · DAC

Jun 2021$1M

Sep 2021$262M

Dec 2021$92M

Mar 2022$2M

Jun 2022$82M

Sep 2022$11M

Dec 2022$104M

Mar 2023$6M

Jun 2023$24M

Sep 2023$98M

Dec 2023$140M

Mar 2024$124M

Jun 2024$218M

Sep 2024$239M

Dec 2024$78M

Mar 2025$86M

Jun 2025$21M

Sep 2025$92M

Dec 2025$97M

Mar 2026$152M

Global Ship Lease, Inc. · GSL

Jun 2021$127M

Sep 2021$312M

Dec 2021$48M

Mar 2022$12M

Jun 2022$8M

Sep 2022$6M

Dec 2022$2M

Mar 2023$4M

Jun 2023$129M

Sep 2023$9M

Dec 2023$10M

Mar 2024$5M

Jun 2024$7M

Sep 2024$9M

Dec 2024$221M

Mar 2025$69M

Jun 2025$4M

Sep 2025$3M

Dec 2025$92M

Mar 2026$1M

Hafnia Limited · HAFN

Jun 2021$10M

Sep 2021$4M

Dec 2021$4M

Mar 2022$220M

Jun 2022$214M

Sep 2022$11M

Dec 2022$3M

Mar 2023$2M

Jun 2023$94M

Sep 2023$42M

Dec 2023$46M

Mar 2024$15M

Jun 2024$13M

Sep 2024$8M

Dec 2024$13M

Mar 2025$27M

Jun 2025$41M

Sep 2025$44M

Dec 2025$34M

Mar 2026$21M

Kirby Corporation · KEX

Jun 2021$24M

Sep 2021$34M

Dec 2021$26M

Mar 2022$35M

Jun 2022$44M

Sep 2022$41M

Dec 2022$52M

Mar 2023$73M

Jun 2023$98M

Sep 2023$104M

Dec 2023$127M

Mar 2024$81M

Jun 2024$89M

Sep 2024$76M

Dec 2024$97M

Mar 2025$79M

Jun 2025$71M

Sep 2025$67M

Dec 2025$47M

Mar 2026$48M

Matson, Inc. · MATX

Jun 2021$64M

Sep 2021$142M

Dec 2021$81M

Mar 2022$47M

Jun 2022$33M

Sep 2022$46M

Dec 2022$84M

Mar 2023$36M

Jun 2023$90M

Sep 2023$61M

Dec 2023$61M

Mar 2024$55M

Jun 2024$70M

Sep 2024$60M

Dec 2024$125M

Mar 2025$89M

Jun 2025$86M

Sep 2025$83M

Dec 2025$135M

Mar 2026$48M

Navios Maritime Partners L.P. · NMM

Jun 2021$148M

Sep 2021$77M

Dec 2021$17M

Mar 2022$22M

Jun 2022$40M

Sep 2022$429M

Dec 2022$120M

Mar 2023$113M

Jun 2023$71M

Sep 2023$126M

Dec 2023$155M

Mar 2024$139M

Jun 2024$255M

Sep 2024$333M

Dec 2024$280M

Mar 2025$133M

Jun 2025—

Sep 2025$102M

Dec 2025$135M

Mar 2026$192M

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022$73M

Jun 2022$106M

Sep 2022$0M

Dec 2022$0M

Mar 2023$0M

Jun 2023$1M

Sep 2023$1M

Dec 2023$1M

Mar 2024$1M

Jun 2024$2M

Sep 2024$4M

Dec 2024$4M

Mar 2025$2M

Jun 2025$1M

Sep 2025$0M

Dec 2025$42M

Mar 2026$242M

SFL Corporation Ltd. · SFL

Jun 2021$15M

Sep 2021$412M

Dec 2021$135M

Mar 2022$228M

Jun 2022$8M

Sep 2022$179M

Dec 2022$228M

Mar 2023$24M

Jun 2023$111M

Sep 2023$66M

Dec 2023$64M

Mar 2024$90M

Jun 2024$122M

Sep 2024$306M

Dec 2024$127M

Mar 2025$20M

Jun 2025$28M

Sep 2025$18M

Dec 2025$4M

Mar 2026$7M

Star Bulk Carriers Corp. · SBLK

Jun 2021$52M

Sep 2021—

Dec 2021—

Mar 2022$6M

Jun 2022$6M

Sep 2022$7M

Dec 2022$6M

Mar 2023$5M

Jun 2023$3M

Sep 2023$4M

Dec 2023$5M

Mar 2024$22M

Jun 2024$13M

Sep 2024$12M

Dec 2024$7M

Mar 2025$7M

Jun 2025$8M

Sep 2025$11M

Dec 2025$58M

Mar 2026$20M

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021$332M

Sep 2021$291M

Dec 2021$249M

Mar 2022$183M

Jun 2022$81M

Sep 2022$55M

Dec 2022$28M

Mar 2023$36M

Jun 2023$26M

Sep 2023$14M

Dec 2023$41M

Mar 2024$24M

Jun 2024$66M

Sep 2024$50M

Dec 2024$73M

Mar 2025$78M

Jun 2025$24M

Sep 2025$67M

Dec 2025$48M

Mar 2026$31M

CAPEX intensity · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 20210.0%

Sep 2021154%

Dec 2021416%

Mar 20221.4%

Jun 20220.0%

Sep 20221.4%

Dec 2022144%

Mar 2023414%

Jun 2023136%

Sep 20237.8%

Dec 202325%

Mar 2024322%

Jun 2024908%

Sep 202457%

Dec 20247.0%

Mar 202550%

Jun 202577%

Sep 202550%

Dec 2025138%

Mar 202697%

Costamare Inc. · CMRE

Jun 2021125%

Sep 2021136%

Dec 2021122%

Mar 202219%

Jun 20221.4%

Sep 20221.0%

Dec 20222.3%

Mar 20231.6%

Jun 20231.1%

Sep 202317%

Dec 2023—

Mar 20245.1%

Jun 2024—

Sep 2024—

Dec 20240.4%

Mar 20252.2%

Jun 2025—

Sep 2025—

Dec 20259.0%

Mar 20267.6%

Danaos Corporation · DAC

Jun 20210.7%

Sep 2021134%

Dec 202143%

Mar 20220.9%

Jun 202233%

Sep 20224.2%

Dec 202241%

Mar 20232.5%

Jun 202310%

Sep 202341%

Dec 202356%

Mar 202449%

Jun 202489%

Sep 202493%

Dec 202430%

Mar 202534%

Jun 20258.0%

Sep 202535%

Dec 202537%

Mar 202660%

Global Ship Lease, Inc. · GSL

Jun 2021153%

Sep 2021225%

Dec 202131%

Mar 20227.8%

Jun 20225.2%

Sep 20223.5%

Dec 20221.2%

Mar 20232.5%

Jun 202380%

Sep 20235.1%

Dec 20235.6%

Mar 20242.8%

Jun 20244.0%

Sep 20245.2%

Dec 2024121%

Mar 202536%

Jun 20252.1%

Sep 20251.6%

Dec 202548%

Mar 20260.5%

Hafnia Limited · HAFN

Jun 20214.9%

Sep 20212.0%

Dec 20211.6%

Mar 202281%

Jun 202245%

Sep 20222.1%

Dec 20220.5%

Mar 20230.3%

Jun 202313%

Sep 20236.3%

Dec 20236.5%

Mar 20241.9%

Jun 20241.5%

Sep 20241.1%

Dec 20242.4%

Mar 20254.8%

Jun 20257.3%

Sep 20257.4%

Dec 20255.7%

Mar 20263.0%

Kirby Corporation · KEX

Jun 20214.3%

Sep 20215.7%

Dec 20214.4%

Mar 20225.7%

Jun 20226.3%

Sep 20225.5%

Dec 20227.1%

Mar 20239.7%

Jun 202313%

Sep 202314%

Dec 202316%

Mar 202410%

Jun 202411%

Sep 20249.1%

Dec 202412%

Mar 202510%

Jun 20258.3%

Sep 20257.7%

Dec 20255.5%

Mar 20265.7%

Matson, Inc. · MATX

Jun 20217.3%

Sep 202113%

Dec 20216.4%

Mar 20224.0%

Jun 20222.6%

Sep 20224.1%

Dec 202211%

Mar 20235.1%

Jun 202312%

Sep 20237.4%

Dec 20237.7%

Mar 20247.6%

Jun 20248.3%

Sep 20246.2%

Dec 202414%

Mar 202511%

Jun 202510%

Sep 20259.4%

Dec 202516%

Mar 20266.3%

Navios Maritime Partners L.P. · NMM

Jun 202197%

Sep 202134%

Dec 20216.3%

Mar 20229.3%

Jun 202214%

Sep 2022133%

Dec 202232%

Mar 202337%

Jun 202321%

Sep 202339%

Dec 202347%

Mar 202444%

Jun 202475%

Sep 202498%

Dec 202484%

Mar 202544%

Jun 2025—

Sep 202529%

Dec 202537%

Mar 202654%

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022174%

Jun 2022212%

Sep 20220.0%

Dec 20220.0%

Mar 20230.0%

Jun 20230.8%

Sep 20231.1%

Dec 20231.1%

Mar 20240.9%

Jun 20241.8%

Sep 20244.7%

Dec 20244.7%

Mar 20252.5%

Jun 20251.1%

Sep 20250.0%

Dec 202533%

Mar 2026142%

SFL Corporation Ltd. · SFL

Jun 202113%

Sep 2021305%

Dec 202189%

Mar 2022150%

Jun 20225.2%

Sep 2022107%

Dec 2022115%

Mar 202314%

Jun 202367%

Sep 202332%

Dec 202331%

Mar 202439%

Jun 202464%

Sep 2024120%

Dec 202456%

Mar 202511%

Jun 202515%

Sep 202510%

Dec 20252.3%

Mar 20264.0%

Star Bulk Carriers Corp. · SBLK

Jun 202117%

Sep 2021—

Dec 2021—

Mar 20221.7%

Jun 20221.4%

Sep 20221.9%

Dec 20222.0%

Mar 20232.2%

Jun 20231.3%

Sep 20231.8%

Dec 20231.9%

Mar 20248.5%

Jun 20243.7%

Sep 20243.5%

Dec 20242.3%

Mar 20253.0%

Jun 20253.2%

Sep 20254.2%

Dec 202519%

Mar 20267.1%

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 202114%

Sep 20219.3%

Dec 20217.2%

Mar 20224.9%

Jun 20222.4%

Sep 20221.7%

Dec 20221.3%

Mar 20232.6%

Jun 20232.0%

Sep 20231.1%

Dec 20233.4%

Mar 20241.5%

Jun 20243.4%

Sep 20241.8%

Dec 20243.4%

Mar 20253.9%

Jun 20251.5%

Sep 20253.8%

Dec 20253.2%

Mar 20262.2%

Annual capital allocation · 5-year view

23/23 capacity base · 23/23 OCF · 23/23 CAPEX · 23/23 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Dec 2021$1.8B

Dec 2022$1.8B

Dec 2023$2.3B

Dec 2024$3.5B

Dec 2025$3.6B

Costamare Inc. · CMRE

Dec 2021$3.8B

Dec 2022$3.7B

Dec 2023$3.8B

Dec 2024$3.4B

Dec 2025$2.7B

Danaos Corporation · DAC

Dec 2021$2.9B

Dec 2022$2.7B

Dec 2023$2.7B

Dec 2024$3.3B

Dec 2025$3.3B

Global Ship Lease, Inc. · GSL

Dec 2021$1.7B

Dec 2022$1.6B

Dec 2023$1.7B

Dec 2024$1.9B

Dec 2025$2.0B

Hafnia Limited · HAFN

Dec 2021$2.1B

Dec 2022$2.9B

Dec 2023$2.8B

Dec 2024$2.6B

Dec 2025$2.5B

Kirby Corporation · KEX

Dec 2021$3.8B

Dec 2022$3.8B

Dec 2023$4.0B

Dec 2024$4.2B

Dec 2025$4.3B

Matson, Inc. · MATX

Dec 2021$2.3B

Dec 2022$2.4B

Dec 2023$2.4B

Dec 2024$2.6B

Dec 2025$2.9B

Navios Maritime Partners L.P. · NMM

Dec 2021$3.1B

Dec 2022$4.1B

Dec 2023$4.0B

Dec 2024$4.5B

Dec 2025$4.6B

Okeanis Eco Tankers Corp. · ECO

Dec 2021$883M

Dec 2022$1.0B

Dec 2023$988M

Dec 2024$959M

Dec 2025$922M

SFL Corporation Ltd. · SFL

Dec 2021$2.9B

Dec 2022$3.4B

Dec 2023$3.3B

Dec 2024$3.7B

Dec 2025$3.3B

Star Bulk Carriers Corp. · SBLK

Dec 2021$3.1B

Dec 2022$2.9B

Dec 2023$2.6B

Dec 2024$3.4B

Dec 2025$3.0B

ZIM Integrated Shipping Services Ltd. · ZIM

Dec 2021$4.4B

Dec 2022$5.8B

Dec 2023$4.6B

Dec 2024$6.8B

Dec 2025$7.0B

Operating cash flow · fiscal-year history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Dec 2021$111M

Dec 2022$98M

Dec 2023$86M

Dec 2024$185M

Dec 2025$233M

Costamare Inc. · CMRE

Dec 2021$466M

Dec 2022$582M

Dec 2023$524M

Dec 2024$587M

Dec 2025$537M

Danaos Corporation · DAC

Dec 2021$428M

Dec 2022$935M

Dec 2023$576M

Dec 2024$622M

Dec 2025$645M

Global Ship Lease, Inc. · GSL

Dec 2021$248M

Dec 2022$327M

Dec 2023$375M

Dec 2024$430M

Dec 2025$528M

Hafnia Limited · HAFN

Dec 2021$106M

Dec 2022$771M

Dec 2023$1.1B

Dec 2024$1.0B

Dec 2025$603M

Kirby Corporation · KEX

Dec 2021$322M

Dec 2022$294M

Dec 2023$540M

Dec 2024$756M

Dec 2025$670M

Matson, Inc. · MATX

Dec 2021$984M

Dec 2022$1.3B

Dec 2023$511M

Dec 2024$768M

Dec 2025$547M

Navios Maritime Partners L.P. · NMM

Dec 2021$277M

Dec 2022$506M

Dec 2023$560M

Dec 2024$483M

Dec 2025$505M

Okeanis Eco Tankers Corp. · ECO

Dec 2021$29M

Dec 2022$83M

Dec 2023$174M

Dec 2024$163M

Dec 2025$111M

SFL Corporation Ltd. · SFL

Dec 2021$294M

Dec 2022$355M

Dec 2023$343M

Dec 2024$370M

Dec 2025$267M

Star Bulk Carriers Corp. · SBLK

Dec 2021$767M

Dec 2022$770M

Dec 2023$336M

Dec 2024$471M

Dec 2025$296M

ZIM Integrated Shipping Services Ltd. · ZIM

Dec 2021$6.0B

Dec 2022$6.1B

Dec 2023$1.0B

Dec 2024$3.8B

Dec 2025$2.3B

CAPEX · reported cash flow · fiscal-year history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Dec 2021$368M

Dec 2022$25M

Dec 2023$336M

Dec 2024$1.2B

Dec 2025$315M

Costamare Inc. · CMRE

Dec 2021$992M

Dec 2022$62M

Dec 2023$8M

Dec 2024$8M

Dec 2025$69M

Danaos Corporation · DAC

Dec 2021$356M

Dec 2022$199M

Dec 2023$268M

Dec 2024$659M

Dec 2025$297M

Global Ship Lease, Inc. · GSL

Dec 2021$472M

Dec 2022$9M

Dec 2023$152M

Dec 2024$242M

Dec 2025$169M

Hafnia Limited · HAFN

Dec 2021$27M

Dec 2022$443M

Dec 2023$184M

Dec 2024$50M

Dec 2025$146M

Kirby Corporation · KEX

Dec 2021$98M

Dec 2022$173M

Dec 2023$402M

Dec 2024$343M

Dec 2025$264M

Matson, Inc. · MATX

Dec 2021$325M

Dec 2022$209M

Dec 2023$248M

Dec 2024$310M

Dec 2025$393M

Navios Maritime Partners L.P. · NMM

Dec 2021$279M

Dec 2022$611M

Dec 2023$465M

Dec 2024$1.0B

Dec 2025$541M

Okeanis Eco Tankers Corp. · ECO

Dec 2021$21M

Dec 2022$180M

Dec 2023$1M

Dec 2024$11M

Dec 2025$45M

SFL Corporation Ltd. · SFL

Dec 2021$582M

Dec 2022$602M

Dec 2023$264M

Dec 2024$645M

Dec 2025$70M

Star Bulk Carriers Corp. · SBLK

Dec 2021$130M

Dec 2022$25M

Dec 2023$18M

Dec 2024$55M

Dec 2025$84M

ZIM Integrated Shipping Services Ltd. · ZIM

Dec 2021$1.0B

Dec 2022$346M

Dec 2023$116M

Dec 2024$214M

Dec 2025$218M

Free cash flow · fiscal-year history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Dec 2021$-257M

Dec 2022$74M

Dec 2023$-251M

Dec 2024$-1.0B

Dec 2025$-82M

Costamare Inc. · CMRE

Dec 2021$-526M

Dec 2022$520M

Dec 2023$516M

Dec 2024$579M

Dec 2025$468M

Danaos Corporation · DAC

Dec 2021$72M

Dec 2022$736M

Dec 2023$308M

Dec 2024$-38M

Dec 2025$348M

Global Ship Lease, Inc. · GSL

Dec 2021$-224M

Dec 2022$318M

Dec 2023$223M

Dec 2024$188M

Dec 2025$359M

Hafnia Limited · HAFN

Dec 2021$80M

Dec 2022$328M

Dec 2023$876M

Dec 2024$981M

Dec 2025$457M

Kirby Corporation · KEX

Dec 2021$224M

Dec 2022$122M

Dec 2023$138M

Dec 2024$414M

Dec 2025$406M

Matson, Inc. · MATX

Dec 2021$659M

Dec 2022$1.1B

Dec 2023$262M

Dec 2024$458M

Dec 2025$154M

Navios Maritime Partners L.P. · NMM

Dec 2021$-2M

Dec 2022$-104M

Dec 2023$95M

Dec 2024$-524M

Dec 2025$-36M

Okeanis Eco Tankers Corp. · ECO

Dec 2021$7M

Dec 2022$-97M

Dec 2023$173M

Dec 2024$152M

Dec 2025$67M

SFL Corporation Ltd. · SFL

Dec 2021$-288M

Dec 2022$-247M

Dec 2023$79M

Dec 2024$-275M

Dec 2025$197M

Star Bulk Carriers Corp. · SBLK

Dec 2021$637M

Dec 2022$744M

Dec 2023$318M

Dec 2024$416M

Dec 2025$212M

ZIM Integrated Shipping Services Ltd. · ZIM

Dec 2021$5.0B

Dec 2022$5.8B

Dec 2023$904M

Dec 2024$3.5B

Dec 2025$2.1B

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

StealthGas Inc. has the lowest Gross debt among the 23 Marine Shipping companies compared here, at $0 million. Ardmore Shipping Corporation is next at $105 million. The same company also holds the lowest Net debt, at $131 million net cash. 23 of 23 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: StealthGas Inc. has the clearest covered balance-sheet capacity with $131 million net cash and gross debt of $0 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderStealthGas Inc. · $0 million

Gap100% versus #2 · Ardmore Shipping Corporation

Persistence5/8 recent comparable periods

Coverage23/23 companies · 435 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1StealthGas Inc. GASS$0M

2Ardmore Shipping Corporation ASC$105M

3Costamare Bulkers Holdings Limited CMDB$162M

4Euroseas Ltd. ESEA$212M

5Seanergy Maritime Holdings Corp. SHIP$320M

Net debtlowest net debt

1StealthGas Inc. GASS$-131M

2Costamare Bulkers Holdings Limited CMDB$-93M

3Euroseas Ltd. ESEA$19M

4Ardmore Shipping Corporation ASC$58M

5Danaos Corporation DAC$149M

Debt and balance-sheet capacity · company comparison

23/23 level · 23/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
ZIM Integrated Shipping Services Ltd. ZIM	$5.5B	$3.9B	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	$2.6B	$2.1B	Mar 2026
SFL Corporation Ltd. SFL	$2.5B	$2.4B	Mar 2026
Navios Maritime Partners L.P. NMM	$2.4B	$2.0B	Mar 2026
Costamare Inc. CMRE	$1.5B	$899M	Mar 2026
Kirby Corporation KEX	$1.2B	$1.1B	Mar 2026
Star Bulk Carriers Corp. SBLK	$1.1B	$699M	Mar 2026
Hafnia Limited HAFN	$1.0B	$791M	Mar 2026
Danaos Corporation DAC	$1.0B	$149M	Mar 2026
Matson, Inc. MATX	$697M	$597M	Mar 2026
Okeanis Eco Tankers Corp. ECO	$683M	$557M	Mar 2026
Himalaya Shipping Ltd. HSHP	$683M	$658M	Mar 2026
Global Ship Lease, Inc. GSL	$653M	$154M	Mar 2026
Diana Shipping Inc. DSX	$621M	$352M	Mar 2026
Safe Bulkers, Inc. SB	$544M	$372M	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	$360M	$270M	Mar 2026
SEACOR Marine Holdings Inc. SMHI	$328M	$253M	Mar 2026
Genco Shipping & Trading Limited GNK	$324M	$269M	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	$320M	$251M	Mar 2026
Euroseas Ltd. ESEA	$212M	$19M	Mar 2026
Costamare Bulkers Holdings Limited CMDB	$162M	$-93M	Mar 2026
Ardmore Shipping Corporation ASC	$105M	$58M	Mar 2026
StealthGas Inc. GASS	$0M	$-131M	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021$296M

Sep 2021$601M

Dec 2021$1.3B

Mar 2022$1.3B

Jun 2022$1.2B

Sep 2022$1.2B

Dec 2022$1.3B

Mar 2023$1.5B

Jun 2023$1.6B

Sep 2023$1.6B

Dec 2023$1.6B

Mar 2024$1.9B

Jun 2024$2.6B

Sep 2024$2.7B

Dec 2024$2.5B

Mar 2025$2.6B

Jun 2025$2.5B

Sep 2025$2.4B

Dec 2025$2.4B

Mar 2026$2.6B

Costamare Inc. · CMRE

Jun 2021$2.3B

Sep 2021$2.5B

Dec 2021$2.6B

Mar 2022$2.6B

Jun 2022$2.7B

Sep 2022$2.7B

Dec 2022$2.6B

Mar 2023$2.6B

Jun 2023$2.8B

Sep 2023$2.8B

Dec 2023$2.6B

Mar 2024$2.6B

Jun 2024$2.5B

Sep 2024$2.5B

Dec 2024$1.7B

Mar 2025$2.3B

Jun 2025$1.6B

Sep 2025$1.6B

Dec 2025$1.5B

Mar 2026$1.5B

Danaos Corporation · DAC

Jun 2021$1.4B

Sep 2021$1.4B

Dec 2021$1.3B

Mar 2022$1.3B

Jun 2022$966M

Sep 2022$925M

Dec 2022$502M

Mar 2023$489M

Jun 2023$417M

Sep 2023$411M

Dec 2023$404M

Mar 2024$452M

Jun 2024$570M

Sep 2024$679M

Dec 2024$735M

Mar 2025$770M

Jun 2025$761M

Sep 2025$753M

Dec 2025$1.2B

Mar 2026$1.0B

Global Ship Lease, Inc. · GSL

Jun 2021$821M

Sep 2021$1.1B

Dec 2021$1.1B

Mar 2022$1.1B

Jun 2022$1.1B

Sep 2022$983M

Dec 2022$934M

Mar 2023$883M

Jun 2023$912M

Sep 2023$862M

Dec 2023$812M

Mar 2024$762M

Jun 2024$713M

Sep 2024$681M

Dec 2024$684M

Mar 2025$770M

Jun 2025$762M

Sep 2025$725M

Dec 2025$689M

Mar 2026$653M

Hafnia Limited · HAFN

Jun 2021$1.2B

Sep 2021$1.3B

Dec 2021$1.3B

Mar 2022$2.0B

Jun 2022$2.1B

Sep 2022$2.0B

Dec 2022$1.8B

Mar 2023$1.6B

Jun 2023$1.6B

Sep 2023$1.3B

Dec 2023$1.3B

Mar 2024$1.2B

Jun 2024$1.1B

Sep 2024$1.1B

Dec 2024$1.1B

Mar 2025$1.1B

Jun 2025$1.0B

Sep 2025$895M

Dec 2025$1.1B

Mar 2026$1.0B

Kirby Corporation · KEX

Jun 2021$1.5B

Sep 2021$1.4B

Dec 2021$1.4B

Mar 2022$1.3B

Jun 2022$1.3B

Sep 2022$1.3B

Dec 2022$1.3B

Mar 2023$1.3B

Jun 2023$1.2B

Sep 2023$1.2B

Dec 2023$1.2B

Mar 2024$1.2B

Jun 2024$1.2B

Sep 2024$1.2B

Dec 2024$1.1B

Mar 2025$1.3B

Jun 2025$1.3B

Sep 2025$1.3B

Dec 2025$1.1B

Mar 2026$1.2B

Matson, Inc. · MATX

Jun 2021$914M

Sep 2021$905M

Dec 2021$1.1B

Mar 2022$1.1B

Jun 2022$1.1B

Sep 2022$950M

Dec 2022$911M

Mar 2023$840M

Jun 2023$790M

Sep 2023$752M

Dec 2023$725M

Mar 2024$700M

Jun 2024$663M

Sep 2024$657M

Dec 2024$749M

Mar 2025$706M

Jun 2025$665M

Sep 2025$719M

Dec 2025$727M

Mar 2026$697M

Navios Maritime Partners L.P. · NMM

Jun 2021$841M

Sep 2021$1.7B

Dec 2021$1.6B

Mar 2022$1.6B

Jun 2022$1.5B

Sep 2022$2.2B

Dec 2022$2.3B

Mar 2023$2.2B

Jun 2023$2.2B

Sep 2023$2.2B

Dec 2023$2.1B

Mar 2024$2.2B

Jun 2024$2.2B

Sep 2024$2.3B

Dec 2024$2.4B

Mar 2025$2.4B

Jun 2025$2.4B

Sep 2025$2.4B

Dec 2025$2.4B

Mar 2026$2.4B

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021$577M

Dec 2021$577M

Mar 2022—

Jun 2022—

Sep 2022$739M

Dec 2022$739M

Mar 2023$727M

Jun 2023$714M

Sep 2023$704M

Dec 2023$693M

Mar 2024$694M

Jun 2024$669M

Sep 2024$657M

Dec 2024$646M

Mar 2025$634M

Jun 2025$631M

Sep 2025$617M

Dec 2025$605M

Mar 2026$683M

SFL Corporation Ltd. · SFL

Jun 2021$2.2B

Sep 2021$2.5B

Dec 2021$2.4B

Mar 2022$2.5B

Jun 2022$2.5B

Sep 2022$2.5B

Dec 2022$2.7B

Mar 2023$2.6B

Jun 2023$2.6B

Sep 2023$2.5B

Dec 2023$2.6B

Mar 2024$2.6B

Jun 2024$2.7B

Sep 2024$2.8B

Dec 2024$2.8B

Mar 2025$2.9B

Jun 2025$2.8B

Sep 2025$2.8B

Dec 2025$2.6B

Mar 2026$2.5B

Star Bulk Carriers Corp. · SBLK

Jun 2021$1.6B

Sep 2021$1.6B

Dec 2021$1.6B

Mar 2022$1.5B

Jun 2022$1.4B

Sep 2022$1.4B

Dec 2022$1.3B

Mar 2023$1.3B

Jun 2023$1.2B

Sep 2023$1.1B

Dec 2023$1.3B

Mar 2024$1.2B

Jun 2024$1.6B

Sep 2024$1.5B

Dec 2024$1.5B

Mar 2025$1.4B

Jun 2025$1.4B

Sep 2025$1.2B

Dec 2025$1.2B

Mar 2026$1.1B

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021$2.4B

Sep 2021$2.8B

Dec 2021$3.3B

Mar 2022$4.3B

Jun 2022$4.6B

Sep 2022$4.7B

Dec 2022$4.3B

Mar 2023$4.7B

Jun 2023$4.9B

Sep 2023$4.7B

Dec 2023$5.0B

Mar 2024$5.4B

Jun 2024$5.6B

Sep 2024$5.8B

Dec 2024$6.0B

Mar 2025$5.9B

Jun 2025$5.9B

Sep 2025$5.7B

Dec 2025$5.7B

Mar 2026$5.5B

Net debt · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021$192M

Sep 2021$544M

Dec 2021$1.3B

Mar 2022$1.2B

Jun 2022$1.2B

Sep 2022$1.0B

Dec 2022$1.1B

Mar 2023$1.5B

Jun 2023$1.5B

Sep 2023$1.5B

Dec 2023$1.4B

Mar 2024$1.7B

Jun 2024$2.5B

Sep 2024$2.5B

Dec 2024$2.2B

Mar 2025$2.2B

Jun 2025$2.2B

Sep 2025$2.1B

Dec 2025$2.1B

Mar 2026$2.1B

Costamare Inc. · CMRE

Jun 2021$2.0B

Sep 2021$2.3B

Dec 2021$2.3B

Mar 2022$2.2B

Jun 2022$2.1B

Sep 2022$2.0B

Dec 2022$1.7B

Mar 2023$1.7B

Jun 2023$1.9B

Sep 2023$2.0B

Dec 2023$1.9B

Mar 2024$1.8B

Jun 2024$1.6B

Sep 2024$1.7B

Dec 2024$1.0B

Mar 2025$1.5B

Jun 2025$1.1B

Sep 2025$1.1B

Dec 2025$976M

Mar 2026$899M

Danaos Corporation · DAC

Jun 2021$1.1B

Sep 2021$1.3B

Dec 2021$1.2B

Mar 2022$1.1B

Jun 2022$646M

Sep 2022$369M

Dec 2022$234M

Mar 2023$129M

Jun 2023$124M

Sep 2023$105M

Dec 2023$132M

Mar 2024$128M

Jun 2024$198M

Sep 2024$295M

Dec 2024$282M

Mar 2025$289M

Jun 2025$215M

Sep 2025$157M

Dec 2025$118M

Mar 2026$149M

Global Ship Lease, Inc. · GSL

Jun 2021$678M

Sep 2021$995M

Dec 2021$995M

Mar 2022$967M

Jun 2022$918M

Sep 2022$863M

Dec 2022$805M

Mar 2023$748M

Jun 2023$815M

Sep 2023$750M

Dec 2023$659M

Mar 2024$579M

Jun 2024$489M

Sep 2024$394M

Dec 2024$516M

Mar 2025$436M

Jun 2025$331M

Sep 2025$235M

Dec 2025$216M

Mar 2026$154M

Hafnia Limited · HAFN

Jun 2021$1.2B

Sep 2021$1.2B

Dec 2021$1.2B

Mar 2022$1.9B

Jun 2022$2.0B

Sep 2022$1.8B

Dec 2022$1.5B

Mar 2023$1.3B

Jun 2023$1.3B

Sep 2023$1.2B

Dec 2023$1.1B

Mar 2024$979M

Jun 2024$872M

Sep 2024$796M

Dec 2024$838M

Mar 2025$799M

Jun 2025$714M

Sep 2025$688M

Dec 2025$930M

Mar 2026$791M

Kirby Corporation · KEX

Jun 2021$1.4B

Sep 2021$1.3B

Dec 2021$1.3B

Mar 2022$1.3B

Jun 2022$1.3B

Sep 2022$1.3B

Dec 2022$1.2B

Mar 2023$1.2B

Jun 2023$1.1B

Sep 2023$1.2B

Dec 2023$1.2B

Mar 2024$1.2B

Jun 2024$1.2B

Sep 2024$1.1B

Dec 2024$985M

Mar 2025$1.2B

Jun 2025$1.2B

Sep 2025$1.2B

Dec 2025$1.1B

Mar 2026$1.1B

Matson, Inc. · MATX

Jun 2021$897M

Sep 2021$829M

Dec 2021$778M

Mar 2022$726M

Jun 2022$441M

Sep 2022$707M

Dec 2022$661M

Mar 2023$751M

Jun 2023$668M

Sep 2023$595M

Dec 2023$591M

Mar 2024$674M

Jun 2024$495M

Sep 2024$387M

Dec 2024$482M

Mar 2025$584M

Jun 2025$606M

Sep 2025$626M

Dec 2025$585M

Mar 2026$597M

Navios Maritime Partners L.P. · NMM

Jun 2021$614M

Sep 2021$1.6B

Dec 2021$1.4B

Mar 2022$1.5B

Jun 2022$1.4B

Sep 2022$2.1B

Dec 2022$2.1B

Mar 2023$2.0B

Jun 2023$2.0B

Sep 2023$2.0B

Dec 2023$1.8B

Mar 2024$1.9B

Jun 2024$1.9B

Sep 2024$2.0B

Dec 2024$2.1B

Mar 2025$2.0B

Jun 2025$2.1B

Sep 2025$2.1B

Dec 2025$2.0B

Mar 2026$2.0B

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021$539M

Dec 2021$539M

Mar 2022—

Jun 2022—

Sep 2022$658M

Dec 2022$658M

Mar 2023$616M

Jun 2023$634M

Sep 2023$627M

Dec 2023$643M

Mar 2024$590M

Jun 2024$576M

Sep 2024$608M

Dec 2024$597M

Mar 2025$597M

Jun 2025$571M

Sep 2025$564M

Dec 2025$488M

Mar 2026$557M

SFL Corporation Ltd. · SFL

Jun 2021$1.8B

Sep 2021$2.3B

Dec 2021$2.2B

Mar 2022$2.4B

Jun 2022$2.2B

Sep 2022$2.3B

Dec 2022$2.5B

Mar 2023$2.4B

Jun 2023$2.3B

Sep 2023$2.4B

Dec 2023$2.4B

Mar 2024$2.4B

Jun 2024$2.5B

Sep 2024$2.7B

Dec 2024$2.7B

Mar 2025$2.7B

Jun 2025$2.7B

Sep 2025$2.5B

Dec 2025$2.4B

Mar 2026$2.4B

Star Bulk Carriers Corp. · SBLK

Jun 2021$1.4B

Sep 2021$1.2B

Dec 2021$1.1B

Mar 2022$1.1B

Jun 2022$1.0B

Sep 2022$1.0B

Dec 2022$1.0B

Mar 2023$1.0B

Jun 2023$891M

Sep 2023$762M

Dec 2023$1.0B

Mar 2024$973M

Jun 2024$1.2B

Sep 2024$1.0B

Dec 2024$1.0B

Mar 2025$996M

Jun 2025$960M

Sep 2025$788M

Dec 2025$740M

Mar 2026$699M

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021$760M

Sep 2021$0M

Dec 2021$-365M

Mar 2022$-511M

Jun 2022$1.2B

Sep 2022$1.5B

Dec 2022$1.1B

Mar 2023$1.7B

Jun 2023$3.0B

Sep 2023$2.9B

Dec 2023$3.2B

Mar 2024$3.9B

Jun 2024$4.0B

Sep 2024$3.5B

Dec 2024$3.9B

Mar 2025$3.6B

Jun 2025$4.1B

Sep 2025$3.7B

Dec 2025$4.0B

Mar 2026$3.9B

06 · compare level, then change

Return On Capital Employed

Okeanis Eco Tankers Corp. has the highest ROCE among the 23 Marine Shipping companies compared here, at 8.6%. Star Bulk Carriers Corp. is next at 6.3%. The same company also holds the highest ROCE change, at +6.4 percentage points. 23 of 23 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Okeanis Eco Tankers Corp. leads ROCE at 8.6%, 2.3 percentage points above Star Bulk Carriers Corp.. Okeanis Eco Tankers Corp. has the strongest latest improvement at +6.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderOkeanis Eco Tankers Corp. · 8.6%

Gap36.5% versus #2 · Star Bulk Carriers Corp.

Persistence3/8 recent comparable periods

Coverage23/23 companies · 416 observations

Investor read: Okeanis Eco Tankers Corp. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Okeanis Eco Tankers Corp. ECO8.6%

2Star Bulk Carriers Corp. SBLK6.3%

3Hafnia Limited HAFN5.8%

4Euroseas Ltd. ESEA5.4%

5Global Ship Lease, Inc. GSL4.0%

ROCE changefastest improvers

1Okeanis Eco Tankers Corp. ECO+6.4 pp

2Hafnia Limited HAFN+3.4 pp

3Seanergy Maritime Holdings Corp. SHIP+2.8 pp

4Ardmore Shipping Corporation ASC+2.5 pp

5Genco Shipping & Trading Limited GNK+2.1 pp

Return on capital · company comparison

23/23 level · 23/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
Okeanis Eco Tankers Corp. ECO	8.6%	+6.4 pp	Mar 2026
Star Bulk Carriers Corp. SBLK	6.3%	−0.8 pp	Mar 2026
Hafnia Limited HAFN	5.8%	+3.4 pp	Mar 2026
Euroseas Ltd. ESEA	5.4%	−2.8 pp	Mar 2026
Global Ship Lease, Inc. GSL	4.0%	−2.1 pp	Mar 2026
Ardmore Shipping Corporation ASC	3.6%	+2.5 pp	Mar 2026
Danaos Corporation DAC	2.7%	−0.3 pp	Mar 2026
Navios Maritime Partners L.P. NMM	2.5%	+1.0 pp	Mar 2026
Costamare Inc. CMRE	2.5%	−0.2 pp	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	2.5%	+2.8 pp	Mar 2026
Safe Bulkers, Inc. SB	2.1%	+0.9 pp	Mar 2026
Himalaya Shipping Ltd. HSHP	2.1%	+0.6 pp	Mar 2026
Kirby Corporation KEX	2.0%	0.0 pp	Mar 2026
StealthGas Inc. GASS	2.0%	+0.2 pp	Mar 2026
SFL Corporation Ltd. SFL	1.9%	+1.5 pp	Mar 2026
Costamare Bulkers Holdings Limited CMDB	1.7%	+1.7 pp	Mar 2026
Matson, Inc. MATX	1.5%	−0.6 pp	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	1.3%	+0.9 pp	Mar 2026
Genco Shipping & Trading Limited GNK	1.2%	+2.1 pp	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	1.1%	−0.6 pp	Mar 2026
Diana Shipping Inc. DSX	1.0%	−0.2 pp	Mar 2026
ZIM Integrated Shipping Services Ltd. ZIM	-0.2%	−6.4 pp	Mar 2026
SEACOR Marine Holdings Inc. SMHI	-1.1%	−0.3 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 20211.7%

Dec 20213.9%

Mar 20222.6%

Jun 20222.7%

Sep 20222.2%

Dec 20222.1%

Mar 20231.8%

Jun 20231.5%

Sep 20231.5%

Dec 20231.1%

Mar 20241.3%

Jun 20242.1%

Sep 20241.9%

Dec 20242.4%

Mar 20251.7%

Jun 20251.5%

Sep 20251.3%

Dec 20251.4%

Mar 20261.1%

Costamare Inc. · CMRE

Jun 2021—

Sep 20213.7%

Dec 20215.3%

Mar 20224.0%

Jun 20223.8%

Sep 20223.6%

Dec 20225.1%

Mar 20233.6%

Jun 20232.7%

Sep 20231.9%

Dec 20232.3%

Mar 20242.2%

Jun 20242.8%

Sep 20242.3%

Dec 20242.8%

Mar 20252.7%

Jun 20252.9%

Sep 20252.9%

Dec 20252.6%

Mar 20262.5%

Danaos Corporation · DAC

Jun 2021—

Sep 20214.0%

Dec 20214.0%

Mar 20224.2%

Jun 20224.9%

Sep 20225.0%

Dec 20225.9%

Mar 20234.5%

Jun 20234.4%

Sep 20234.3%

Dec 20234.0%

Mar 20244.1%

Jun 20243.9%

Sep 20243.5%

Dec 20243.3%

Mar 20253.0%

Jun 20253.0%

Sep 20253.1%

Dec 20252.8%

Mar 20262.7%

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 20210.0%

Dec 20215.6%

Mar 20225.5%

Jun 20225.3%

Sep 20225.8%

Dec 20224.7%

Mar 20234.7%

Jun 20234.6%

Sep 20235.0%

Dec 20230.0%

Mar 20245.2%

Jun 20244.9%

Sep 20240.0%

Dec 20240.0%

Mar 20256.1%

Jun 20254.7%

Sep 20250.0%

Dec 20254.5%

Mar 20264.0%

Hafnia Limited · HAFN

Jun 2021—

Sep 2021-0.3%

Dec 20210.3%

Mar 20221.4%

Jun 20227.3%

Sep 202210%

Dec 20229.9%

Mar 20238.7%

Jun 20236.7%

Sep 20235.0%

Dec 20235.4%

Mar 20246.9%

Jun 20247.9%

Sep 20246.7%

Dec 20242.9%

Mar 20252.4%

Jun 20252.7%

Sep 20253.2%

Dec 20253.5%

Mar 20265.8%

Kirby Corporation · KEX

Jun 2021—

Sep 2021-6.1%

Dec 20210.6%

Mar 20220.6%

Jun 20220.9%

Sep 20221.2%

Dec 20221.2%

Mar 20231.3%

Jun 20231.8%

Sep 20231.9%

Dec 20231.9%

Mar 20242.0%

Jun 20242.4%

Sep 20242.5%

Dec 20241.0%

Mar 20252.0%

Jun 20252.5%

Sep 20252.4%

Dec 20252.5%

Mar 20262.0%

Matson, Inc. · MATX

Jun 2021—

Sep 202115%

Dec 202117%

Mar 202215%

Jun 202216%

Sep 202210%

Dec 20222.7%

Mar 20231.1%

Jun 20232.7%

Sep 20233.5%

Dec 20232.0%

Mar 20241.0%

Jun 20243.4%

Sep 20246.4%

Dec 20243.8%

Mar 20252.1%

Jun 20253.0%

Sep 20254.1%

Dec 20253.5%

Mar 20261.5%

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 20218.3%

Dec 20216.7%

Mar 20223.7%

Jun 20224.8%

Sep 20227.8%

Dec 20224.1%

Mar 20233.7%

Jun 20233.7%

Sep 20232.8%

Dec 20232.5%

Mar 20242.3%

Jun 20242.9%

Sep 20242.6%

Dec 20242.6%

Mar 20251.5%

Jun 20252.0%

Sep 20251.7%

Dec 20252.8%

Mar 20262.5%

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 20210.0%

Dec 20210.0%

Mar 2022—

Jun 2022—

Sep 20222.8%

Dec 20226.0%

Mar 202312%

Jun 202313%

Sep 20233.3%

Dec 20233.2%

Mar 20245.1%

Jun 20245.1%

Sep 20242.7%

Dec 20242.6%

Mar 20252.2%

Jun 20253.6%

Sep 20253.4%

Dec 20256.7%

Mar 20268.6%

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 20211.8%

Dec 20213.7%

Mar 20222.1%

Jun 20222.8%

Sep 20222.3%

Dec 20222.5%

Mar 20231.6%

Jun 20231.7%

Sep 20232.4%

Dec 20232.6%

Mar 20243.0%

Jun 20242.1%

Sep 20243.0%

Dec 20242.1%

Mar 20250.4%

Jun 20251.6%

Sep 20251.5%

Dec 20251.0%

Mar 20261.9%

Star Bulk Carriers Corp. · SBLK

Jun 20219.2%

Sep 202114%

Dec 202122%

Mar 202226%

Jun 202229%

Sep 202225%

Dec 202219%

Mar 202315%

Jun 202310%

Sep 20238.8%

Dec 20238.4%

Mar 202410%

Jun 20249.0%

Sep 20249.6%

Dec 20249.2%

Mar 20257.1%

Jun 20254.7%

Sep 20253.3%

Dec 20254.2%

Mar 20266.3%

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 202158%

Dec 202148%

Mar 202245%

Jun 202230%

Sep 202222%

Dec 20227.3%

Mar 2023-0.2%

Jun 2023-2.0%

Sep 2023-31%

Dec 2023-0.7%

Mar 20242.3%

Jun 20246.1%

Sep 202418%

Dec 20249.0%

Mar 20256.2%

Jun 20251.9%

Sep 20253.0%

Dec 20251.6%

Mar 2026-0.2%

ROCE change · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.5 pp

Dec 2022−1.8 pp

Mar 2023−0.8 pp

Jun 2023−1.2 pp

Sep 2023−0.7 pp

Dec 2023−1.0 pp

Mar 2024−0.5 pp

Jun 2024+0.6 pp

Sep 2024+0.4 pp

Dec 2024+1.3 pp

Mar 2025+0.4 pp

Jun 2025−0.6 pp

Sep 2025−0.6 pp

Dec 2025−1.0 pp

Mar 2026−0.6 pp

Costamare Inc. · CMRE

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.1 pp

Dec 2022−0.2 pp

Mar 2023−0.4 pp

Jun 2023−1.1 pp

Sep 2023−1.7 pp

Dec 2023−2.8 pp

Mar 2024−1.4 pp

Jun 2024+0.1 pp

Sep 2024+0.4 pp

Dec 2024+0.5 pp

Mar 2025+0.5 pp

Jun 2025+0.1 pp

Sep 2025+0.6 pp

Dec 2025−0.2 pp

Mar 2026−0.2 pp

Danaos Corporation · DAC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.0 pp

Dec 2022+1.9 pp

Mar 2023+0.3 pp

Jun 2023−0.5 pp

Sep 2023−0.7 pp

Dec 2023−1.9 pp

Mar 2024−0.4 pp

Jun 2024−0.5 pp

Sep 2024−0.8 pp

Dec 2024−0.7 pp

Mar 2025−1.1 pp

Jun 2025−0.9 pp

Sep 2025−0.4 pp

Dec 2025−0.5 pp

Mar 2026−0.3 pp

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+5.8 pp

Dec 2022−0.9 pp

Mar 2023−0.8 pp

Jun 2023−0.7 pp

Sep 2023−0.8 pp

Dec 2023−4.7 pp

Mar 2024+0.5 pp

Jun 2024+0.3 pp

Sep 2024−5.0 pp

Dec 20240.0 pp

Mar 2025+0.9 pp

Jun 2025−0.2 pp

Sep 20250.0 pp

Dec 2025+4.5 pp

Mar 2026−2.1 pp

Hafnia Limited · HAFN

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+10.7 pp

Dec 2022+9.6 pp

Mar 2023+7.3 pp

Jun 2023−0.6 pp

Sep 2023−5.4 pp

Dec 2023−4.5 pp

Mar 2024−1.8 pp

Jun 2024+1.2 pp

Sep 2024+1.7 pp

Dec 2024−2.5 pp

Mar 2025−4.5 pp

Jun 2025−5.2 pp

Sep 2025−3.5 pp

Dec 2025+0.6 pp

Mar 2026+3.4 pp

Kirby Corporation · KEX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+7.3 pp

Dec 2022+0.6 pp

Mar 2023+0.7 pp

Jun 2023+0.9 pp

Sep 2023+0.7 pp

Dec 2023+0.7 pp

Mar 2024+0.7 pp

Jun 2024+0.6 pp

Sep 2024+0.6 pp

Dec 2024−0.9 pp

Mar 20250.0 pp

Jun 2025+0.1 pp

Sep 2025−0.1 pp

Dec 2025+1.5 pp

Mar 20260.0 pp

Matson, Inc. · MATX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−4.7 pp

Dec 2022−14.7 pp

Mar 2023−13.9 pp

Jun 2023−13.7 pp

Sep 2023−6.8 pp

Dec 2023−0.7 pp

Mar 2024−0.1 pp

Jun 2024+0.7 pp

Sep 2024+2.9 pp

Dec 2024+1.8 pp

Mar 2025+1.1 pp

Jun 2025−0.4 pp

Sep 2025−2.3 pp

Dec 2025−0.3 pp

Mar 2026−0.6 pp

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.5 pp

Dec 2022−2.6 pp

Mar 20230.0 pp

Jun 2023−1.1 pp

Sep 2023−5.0 pp

Dec 2023−1.6 pp

Mar 2024−1.4 pp

Jun 2024−0.8 pp

Sep 2024−0.2 pp

Dec 2024+0.1 pp

Mar 2025−0.8 pp

Jun 2025−0.9 pp

Sep 2025−0.9 pp

Dec 2025+0.2 pp

Mar 2026+1.0 pp

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.8 pp

Dec 2022+6.0 pp

Mar 2023—

Jun 2023—

Sep 2023+0.5 pp

Dec 2023−2.8 pp

Mar 2024−6.8 pp

Jun 2024−7.5 pp

Sep 2024−0.6 pp

Dec 2024−0.6 pp

Mar 2025−2.9 pp

Jun 2025−1.5 pp

Sep 2025+0.7 pp

Dec 2025+4.1 pp

Mar 2026+6.4 pp

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.5 pp

Dec 2022−1.2 pp

Mar 2023−0.5 pp

Jun 2023−1.1 pp

Sep 2023+0.1 pp

Dec 2023+0.1 pp

Mar 2024+1.4 pp

Jun 2024+0.4 pp

Sep 2024+0.6 pp

Dec 2024−0.5 pp

Mar 2025−2.6 pp

Jun 2025−0.5 pp

Sep 2025−1.5 pp

Dec 2025−1.1 pp

Mar 2026+1.5 pp

Star Bulk Carriers Corp. · SBLK

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+19.3 pp

Sep 2022+11.0 pp

Dec 2022−2.2 pp

Mar 2023−11.1 pp

Jun 2023−18.3 pp

Sep 2023−16.6 pp

Dec 2023−11.0 pp

Mar 2024−4.5 pp

Jun 2024−1.2 pp

Sep 2024+0.8 pp

Dec 2024+0.8 pp

Mar 2025−3.3 pp

Jun 2025−4.3 pp

Sep 2025−6.3 pp

Dec 2025−5.0 pp

Mar 2026−0.8 pp

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−36.2 pp

Dec 2022−41.0 pp

Mar 2023−44.8 pp

Jun 2023−31.6 pp

Sep 2023−52.2 pp

Dec 2023−8.0 pp

Mar 2024+2.5 pp

Jun 2024+8.1 pp

Sep 2024+48.4 pp

Dec 2024+9.7 pp

Mar 2025+3.9 pp

Jun 2025−4.2 pp

Sep 2025−14.7 pp

Dec 2025−7.4 pp

Mar 2026−6.4 pp

07 · compare level, then change

Valuation Against Growth & Quality

Diana Shipping Inc. has the lowest Guarded PEG among the 23 Marine Shipping companies compared here, at 0.1×. StealthGas Inc. is next at 0.12×. Euroseas Ltd. has the lowest P/E at 3.52×, so level and change sit with different companies. 17 of 23 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Diana Shipping Inc. has the lowest comparable Guarded PEG at 0.1×, 16.7% below StealthGas Inc.. Only 17 of 23 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderDiana Shipping Inc. · 0.1×

Gap16.7% versus #2 · StealthGas Inc.

Persistence0/8 recent comparable periods

Coverage17/23 companies · 61 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1Diana Shipping Inc. DSX0.1

2StealthGas Inc. GASS0.1

3Euroseas Ltd. ESEA0.1

4Safe Bulkers, Inc. SB0.1

5Global Ship Lease, Inc. GSL0.2

P/Elowest P/E

1Euroseas Ltd. ESEA3.5

2Global Ship Lease, Inc. GSL3.6

3Danaos Corporation DAC4.0

4StealthGas Inc. GASS5.5

5Navios Maritime Partners L.P. NMM5.7

Valuation · company comparison

17/23 level · 22/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
Pangaea Logistics Solutions Ltd. PANL	1.7	12.9	Mar 2026
Okeanis Eco Tankers Corp. ECO	0.8	8.9	Mar 2026
Matson, Inc. MATX	0.8	12.1	Mar 2026
Kirby Corporation KEX	0.7	20.4	Mar 2026
Navios Maritime Partners L.P. NMM	0.7	5.7	Mar 2026
Costamare Inc. CMRE	0.6	6.3	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	0.6	10.5	Mar 2026
Ardmore Shipping Corporation ASC	0.3	11.5	Mar 2026
Star Bulk Carriers Corp. SBLK	0.2	18.0	Mar 2026
Danaos Corporation DAC	0.2	4.0	Mar 2026
SFL Corporation Ltd. SFL	0.2	45.0	Mar 2026
Global Ship Lease, Inc. GSL	0.2	3.6	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	0.2	7.2	Mar 2026
Safe Bulkers, Inc. SB	0.1	14.1	Mar 2026
Euroseas Ltd. ESEA	0.1	3.5	Mar 2026
StealthGas Inc. GASS	0.1	5.5	Mar 2026
Diana Shipping Inc. DSX	0.1	7.1	Mar 2026
Hafnia Limited HAFN	—	8.4	Mar 2026
ZIM Integrated Shipping Services Ltd. ZIM	—	32.1	Mar 2026
Genco Shipping & Trading Limited GNK	—	59.3	Mar 2026
Himalaya Shipping Ltd. HSHP	—	21.1	Mar 2026
SEACOR Marine Holdings Inc. SMHI	—	21.2	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Showing the 12 largest of 17 companies with a series here. The remaining 5 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ardmore Shipping Corporation · ASC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.9

Dec 20240.3

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.4

Mar 20250.1

Jun 20250.3

Sep 2025—

Dec 20250.6

Mar 2026—

Costamare Inc. · CMRE

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.1

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20250.3

Mar 20260.6

Danaos Corporation · DAC

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20230.4

Mar 2024—

Jun 20240.2

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.2

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.1

Jun 20230.1

Sep 20230.1

Dec 20230.4

Mar 20240.2

Jun 20240.5

Sep 20240.5

Dec 20240.1

Mar 20250.1

Jun 20250.1

Sep 20250.1

Dec 20250.2

Mar 2026—

Kirby Corporation · KEX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.4

Dec 20240.7

Mar 20251.0

Jun 20251.7

Sep 2025—

Dec 20250.6

Mar 20260.7

Matson, Inc. · MATX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.3

Dec 2024—

Mar 2025—

Jun 20250.1

Sep 20250.8

Dec 2025—

Mar 2026—

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.1

Jun 20230.1

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.7

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20241.1

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20250.8

Mar 2026—

Safe Bulkers, Inc. · SB

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.2

Dec 20240.1

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20242.6

Sep 20240.3

Dec 20240.2

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Star Bulk Carriers Corp. · SBLK

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.2

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

P/E · reported quarter history

Showing the 12 largest of 22 companies with a series here. The remaining 10 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 20213.8

Dec 20213.1

Mar 20223.1

Jun 20223.1

Sep 20221.9

Dec 20222.2

Mar 20232.5

Jun 20232.9

Sep 20235.2

Dec 20236.6

Mar 20247.6

Jun 20246.7

Sep 202414.5

Dec 20247.1

Mar 20255.8

Jun 20257.3

Sep 20255.6

Dec 20257.3

Mar 202610.5

Costamare Inc. · CMRE

Jun 2021—

Sep 20215.3

Dec 20212.9

Mar 20223.4

Jun 20222.3

Sep 20221.7

Dec 20221.6

Mar 20231.6

Jun 20231.8

Sep 20232.0

Dec 20232.6

Mar 20243.3

Jun 20244.3

Sep 20243.9

Dec 20243.9

Mar 20253.0

Jun 20253.9

Sep 20254.8

Dec 20255.5

Mar 20266.3

Danaos Corporation · DAC

Jun 2021—

Sep 20211.8

Dec 20211.5

Mar 20222.0

Jun 20221.8

Sep 20222.0

Dec 20221.9

Mar 20233.0

Jun 20232.6

Sep 20232.3

Dec 20232.6

Mar 20242.5

Jun 20243.1

Sep 20243.0

Dec 20243.1

Mar 20253.2

Jun 20253.6

Sep 20253.6

Dec 20253.5

Mar 20264.0

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 20217.9

Dec 20215.0

Mar 20225.0

Jun 20222.6

Sep 20222.2

Dec 20222.2

Mar 20232.4

Jun 20232.3

Sep 20232.2

Dec 20232.4

Mar 20242.3

Jun 20243.2

Sep 20243.0

Dec 20242.3

Mar 20252.2

Jun 20252.5

Sep 20252.8

Dec 20253.1

Mar 20263.6

Hafnia Limited · HAFN

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20245.3

Sep 20244.2

Dec 20243.7

Mar 20253.4

Jun 20255.9

Sep 20259.8

Dec 20258.0

Mar 20268.4

Kirby Corporation · KEX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202238.2

Dec 202231.7

Mar 202328.8

Jun 202326.5

Sep 202325.1

Dec 202321.1

Mar 202422.5

Jun 202425.4

Sep 202423.5

Dec 202421.6

Mar 202520.0

Jun 202521.4

Sep 202515.5

Dec 202517.4

Mar 202620.4

Matson, Inc. · MATX

Jun 2021—

Sep 20215.7

Dec 20214.2

Mar 20224.3

Jun 20222.2

Sep 20221.8

Dec 20222.3

Mar 20233.1

Jun 20236.3

Sep 202310.2

Dec 202313.2

Mar 202413.2

Jun 202413.7

Sep 202412.0

Dec 20249.7

Mar 20258.4

Jun 20257.5

Sep 20257.5

Dec 20259.0

Mar 202612.1

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 20211.8

Dec 20211.1

Mar 20222.1

Jun 20221.4

Sep 20221.3

Dec 20221.4

Mar 20231.3

Jun 20231.2

Sep 20231.7

Dec 20232.0

Mar 20243.2

Jun 20244.0

Sep 20244.8

Dec 20243.6

Mar 20253.6

Jun 20253.8

Sep 20255.2

Dec 20255.5

Mar 20265.7

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20224.6

Mar 20235.8

Jun 20234.2

Sep 20234.9

Dec 20235.9

Mar 20247.2

Jun 20248.5

Sep 20249.0

Dec 20246.3

Mar 20258.9

Jun 202510.4

Sep 202512.3

Dec 20259.0

Mar 20268.9

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 2021—

Dec 20216.3

Mar 20227.2

Jun 20225.6

Sep 20225.0

Dec 20226.0

Mar 20237.5

Jun 20239.8

Sep 202314.1

Dec 202317.1

Mar 202413.6

Jun 202413.9

Sep 202410.4

Dec 202410.1

Mar 202520.0

Jun 202532.0

Sep 2025—

Dec 2025—

Mar 202645.0

Star Bulk Carriers Corp. · SBLK

Jun 202111.1

Sep 20216.0

Dec 20213.4

Mar 20223.7

Jun 20222.9

Sep 20222.3

Dec 20223.5

Mar 20234.9

Jun 20236.4

Sep 20239.1

Dec 202310.3

Mar 20249.9

Jun 202410.5

Sep 20249.3

Dec 20245.8

Mar 20257.9

Jun 202516.1

Sep 202534.6

Dec 202526.0

Mar 202618.0

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 20211.8

Dec 20211.5

Mar 20221.5

Jun 20220.9

Sep 20220.5

Dec 20220.5

Mar 20231.0

Jun 20231.2

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20242.2

Dec 20241.2

Mar 20250.8

Jun 20251.0

Sep 20251.6

Dec 20255.3

Mar 202632.1

08 · compare level, then change

Enterprise Value & Book Value

StealthGas Inc. has the lowest EV/EBITDA among the 23 Marine Shipping companies compared here, at 2.6×. Euroseas Ltd. is next at 2.87×. Diana Shipping Inc. has the lowest P/BV at 0.38×, so level and change sit with different companies. 23 of 23 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: StealthGas Inc. leads ev/ebitda at 2.6×; Diana Shipping Inc. leads p/bv at 0.38×.

LeaderStealthGas Inc. · 2.6×

Gap9.4% versus #2 · Euroseas Ltd.

Persistence0/8 recent comparable periods

Coverage23/23 companies · 370 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1StealthGas Inc. GASS2.6

2Euroseas Ltd. ESEA2.9

3Danaos Corporation DAC3.4

4Global Ship Lease, Inc. GSL3.5

5ZIM Integrated Shipping Services Ltd. ZIM3.9

P/BVlowest P/BV

1Diana Shipping Inc. DSX0.4

2StealthGas Inc. GASS0.5

3Danaos Corporation DAC0.5

4Costamare Bulkers Holdings Limited CMDB0.6

5Navios Maritime Partners L.P. NMM0.6

Enterprise and book valuation · company comparison

23/23 level · 23/23 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
Costamare Bulkers Holdings Limited CMDB	118.2	0.6	Mar 2026
Diana Shipping Inc. DSX	16.1	0.4	Mar 2026
Safe Bulkers, Inc. SB	11.9	0.6	Mar 2026
Himalaya Shipping Ltd. HSHP	11.9	4.0	Mar 2026
Genco Shipping & Trading Limited GNK	11.4	1.1	Mar 2026
Capital Clean Energy Carriers Corp. CCEC	11.3	0.8	Mar 2026
Kirby Corporation KEX	10.4	2.1	Mar 2026
SFL Corporation Ltd. SFL	9.1	1.5	Mar 2026
Okeanis Eco Tankers Corp. ECO	8.8	2.7	Mar 2026
Star Bulk Carriers Corp. SBLK	8.8	1.1	Mar 2026
Seanergy Maritime Holdings Corp. SHIP	8.6	0.7	Mar 2026
Matson, Inc. MATX	8.6	1.8	Mar 2026
SEACOR Marine Holdings Inc. SMHI	7.8	0.8	Mar 2026
Hafnia Limited HAFN	6.8	1.5	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	6.6	1.1	Mar 2026
Costamare Inc. CMRE	5.3	1.0	Mar 2026
Navios Maritime Partners L.P. NMM	4.7	0.6	Mar 2026
Ardmore Shipping Corporation ASC	4.7	1.0	Mar 2026
ZIM Integrated Shipping Services Ltd. ZIM	3.9	0.8	Mar 2026
Global Ship Lease, Inc. GSL	3.5	0.7	Mar 2026
Danaos Corporation DAC	3.4	0.5	Mar 2026
Euroseas Ltd. ESEA	2.9	1.0	Mar 2026
StealthGas Inc. GASS	2.6	0.5	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 20218.1

Dec 20219.7

Mar 202211.1

Jun 20228.7

Sep 20225.0

Dec 20228.2

Mar 20238.3

Jun 20238.3

Sep 20239.2

Dec 2023—

Mar 202413.1

Jun 202415.8

Sep 202413.3

Dec 202423.7

Mar 20258.5

Jun 20259.4

Sep 20259.3

Dec 202536.0

Mar 202611.3

Costamare Inc. · CMRE

Jun 2021—

Sep 20218.5

Dec 20215.9

Mar 20225.4

Jun 20224.2

Sep 20223.5

Dec 20223.1

Mar 20233.0

Jun 20233.5

Sep 20233.8

Dec 20233.9

Mar 20244.7

Jun 20245.1

Sep 20244.8

Dec 20243.5

Mar 20251.7

Jun 20251.8

Sep 20254.2

Dec 20254.9

Mar 20265.3

Danaos Corporation · DAC

Jun 2021—

Sep 202110.1

Dec 20215.8

Mar 20225.7

Jun 20223.0

Sep 20222.1

Dec 20221.7

Mar 20231.6

Jun 20232.2

Sep 20232.2

Dec 20232.2

Mar 20242.7

Jun 20243.6

Sep 20243.7

Dec 20242.4

Mar 20252.5

Jun 20252.7

Sep 20252.7

Dec 20252.7

Mar 20263.4

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 202118.8

Dec 20219.7

Mar 20227.2

Jun 20224.7

Sep 20223.3

Dec 20223.2

Mar 20233.2

Jun 20233.4

Sep 20233.2

Dec 20233.8

Mar 20243.3

Jun 20243.8

Sep 202413.6

Dec 202412.9

Mar 20253.8

Jun 20254.1

Sep 202515.0

Dec 20253.2

Mar 20263.5

Hafnia Limited · HAFN

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20244.8

Sep 20244.0

Dec 20243.6

Mar 20253.4

Jun 20254.7

Sep 20256.6

Dec 20256.3

Mar 20266.8

Kirby Corporation · KEX

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022618.6

Jun 2022196.2

Sep 202212.4

Dec 202211.9

Mar 202311.9

Jun 202311.5

Sep 202311.4

Dec 202310.0

Mar 202410.8

Jun 202412.2

Sep 202411.5

Dec 202410.5

Mar 202510.2

Jun 202510.9

Sep 20258.2

Dec 20258.8

Mar 202610.4

Matson, Inc. · MATX

Jun 2021—

Sep 20214.4

Dec 20213.4

Mar 20223.4

Jun 20221.7

Sep 20221.6

Dec 20222.0

Mar 20232.6

Jun 20234.9

Sep 20237.4

Dec 20239.0

Mar 20249.3

Jun 20249.5

Sep 20248.2

Dec 20247.0

Mar 20256.3

Jun 20255.6

Sep 20255.6

Dec 20256.5

Mar 20268.6

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20244.3

Mar 20254.2

Jun 20254.3

Sep 20254.6

Dec 20254.6

Mar 20264.7

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 2021—

Dec 202111.4

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20227.1

Mar 20236.5

Jun 20235.2

Sep 20235.5

Dec 20236.2

Mar 20246.7

Jun 20247.4

Sep 20247.9

Dec 20246.3

Mar 20257.6

Jun 20258.2

Sep 20259.3

Dec 20258.3

Mar 20268.8

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 2021—

Dec 20218.9

Mar 202214.5

Jun 202212.1

Sep 202211.8

Dec 20228.1

Mar 20238.0

Jun 20238.2

Sep 20238.6

Dec 20238.7

Mar 20248.5

Jun 20248.2

Sep 20247.6

Dec 20247.7

Mar 20258.1

Jun 20258.1

Sep 20258.4

Dec 20259.5

Mar 20269.1

Star Bulk Carriers Corp. · SBLK

Jun 20218.9

Sep 20216.2

Dec 20213.9

Mar 20224.0

Jun 20223.3

Sep 20222.9

Dec 20223.9

Mar 20235.3

Jun 20236.3

Sep 20237.3

Dec 20237.0

Mar 20247.3

Jun 20247.8

Sep 20247.8

Dec 20245.5

Mar 20256.6

Jun 20258.9

Sep 202510.9

Dec 20259.5

Mar 20268.8

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 20211.3

Dec 20211.0

Mar 20221.0

Jun 20220.8

Sep 20220.5

Dec 20220.4

Mar 20230.8

Jun 20231.3

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20242.3

Dec 20241.8

Mar 20251.3

Jun 20251.6

Sep 20251.9

Dec 20252.8

Mar 20263.9

P/BV · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Capital Clean Energy Carriers Corp. · CCEC

Jun 2021—

Sep 20210.5

Dec 20210.6

Mar 20220.7

Jun 20220.5

Sep 20220.4

Dec 20220.4

Mar 20230.4

Jun 20230.4

Sep 20230.4

Dec 20230.7

Mar 20240.8

Jun 20240.8

Sep 20240.8

Dec 20240.8

Mar 20250.8

Jun 20251.0

Sep 20250.9

Dec 20250.8

Mar 20260.8

Costamare Inc. · CMRE

Jun 2021—

Sep 20210.9

Dec 20210.7

Mar 20220.9

Jun 20220.6

Sep 20220.4

Dec 20220.4

Mar 20230.4

Jun 20230.4

Sep 20230.4

Dec 20230.4

Mar 20240.4

Jun 20240.6

Sep 20240.6

Dec 20240.5

Mar 20250.3

Jun 20250.6

Sep 20250.7

Dec 20250.9

Mar 20261.0

Danaos Corporation · DAC

Jun 2021—

Sep 20210.9

Dec 20210.7

Mar 20220.9

Jun 20220.5

Sep 20220.5

Dec 20220.4

Mar 20230.4

Jun 20230.5

Sep 20230.5

Dec 20230.5

Mar 20240.4

Jun 20240.6

Sep 20240.5

Dec 20240.4

Mar 20250.4

Jun 20250.4

Sep 20250.4

Dec 20250.5

Mar 20260.5

Global Ship Lease, Inc. · GSL

Jun 2021—

Sep 20211.3

Dec 20211.2

Mar 20221.3

Jun 20220.7

Sep 20220.6

Dec 20220.6

Mar 20230.7

Jun 20230.6

Sep 20230.6

Dec 20230.6

Mar 20240.6

Jun 20240.8

Sep 20240.7

Dec 20240.5

Mar 20250.5

Jun 20250.6

Sep 20250.6

Dec 20250.7

Mar 20260.7

Hafnia Limited · HAFN

Jun 2021—

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20241.7

Sep 20241.5

Dec 20241.2

Mar 20250.9

Jun 20251.1

Sep 20251.3

Dec 20251.1

Mar 20261.5

Kirby Corporation · KEX

Jun 2021—

Sep 20211.0

Dec 20211.2

Mar 20221.5

Jun 20221.3

Sep 20221.2

Dec 20221.3

Mar 20231.4

Jun 20231.5

Sep 20231.6

Dec 20231.4

Mar 20241.7

Jun 20242.1

Sep 20242.1

Dec 20241.8

Mar 20251.7

Jun 20251.9

Sep 20251.4

Dec 20251.8

Mar 20262.1

Matson, Inc. · MATX

Jun 2021—

Sep 20212.5

Dec 20212.2

Mar 20222.6

Jun 20221.3

Sep 20221.0

Dec 20221.0

Mar 20230.9

Jun 20231.2

Sep 20231.3

Dec 20231.6

Mar 20241.6

Jun 20241.8

Sep 20241.9

Dec 20241.7

Mar 20251.6

Jun 20251.4

Sep 20251.1

Dec 20251.4

Mar 20261.8

Navios Maritime Partners L.P. · NMM

Jun 2021—

Sep 20210.6

Dec 20210.5

Mar 20220.6

Jun 20220.4

Sep 20220.4

Dec 20220.4

Mar 20230.3

Jun 20230.3

Sep 20230.3

Dec 20230.3

Mar 20240.5

Jun 20240.5

Sep 20240.6

Dec 20240.4

Mar 20250.4

Jun 20250.4

Sep 20250.4

Dec 20250.5

Mar 20260.6

Okeanis Eco Tankers Corp. · ECO

Jun 2021—

Sep 20210.8

Dec 20210.8

Mar 2022—

Jun 2022—

Sep 20220.9

Dec 20220.9

Mar 20231.7

Jun 20231.6

Sep 20232.1

Dec 20232.1

Mar 20242.3

Jun 20242.4

Sep 20242.6

Dec 20241.7

Mar 20251.7

Jun 20251.6

Sep 20252.2

Dec 20252.1

Mar 20262.7

SFL Corporation Ltd. · SFL

Jun 2021—

Sep 20211.3

Dec 20211.2

Mar 20221.4

Jun 20221.3

Sep 20221.2

Dec 20221.2

Mar 20231.2

Jun 20231.2

Sep 20231.5

Dec 20231.5

Mar 20241.7

Jun 20241.7

Sep 20241.4

Dec 20241.3

Mar 20251.1

Jun 20251.1

Sep 20251.0

Dec 20251.2

Mar 20261.5

Star Bulk Carriers Corp. · SBLK

Jun 20211.3

Sep 20211.3

Dec 20211.1

Mar 20221.5

Jun 20221.2

Sep 20220.9

Dec 20221.0

Mar 20231.1

Jun 20230.9

Sep 20231.1

Dec 20231.1

Mar 20241.2

Jun 20241.1

Sep 20241.1

Dec 20240.7

Mar 20250.7

Jun 20250.8

Sep 20250.9

Dec 20250.9

Mar 20261.1

ZIM Integrated Shipping Services Ltd. · ZIM

Jun 2021—

Sep 20211.9

Dec 20211.5

Mar 20222.1

Jun 20221.1

Sep 20220.5

Dec 20220.4

Mar 20230.6

Jun 20230.3

Sep 20230.5

Dec 20230.5

Mar 20240.5

Jun 20240.9

Sep 20240.8

Dec 20240.6

Mar 20250.4

Jun 20250.5

Sep 20250.4

Dec 20250.6

Mar 20260.8

09 · let price answer last

Market action

Okeanis Eco Tankers Corp. has the strongest one-year price move in Marine Shipping at +147.2%. It also leads on Mansfield relative strength against the S&P 500 at +30.5%. 20 of 23 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Marine Shipping comparison names 4 specific ways its own evidence can mislead, all listed below. All 23 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

10 · the complete set

Which companies are included?

All 23 companies in the canonical Marine Shipping membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
Kirby Corporation KEX18/26 WEEKS	$7.8B	$145	2026-07-28	Mar 2026
Matson, Inc. MATXAHEAD25/26 WEEKS	$6.1B	$203	2026-07-28	Mar 2026
Hafnia Limited HAFN	$3.8B	$7.5	2026-07-28	Mar 2026
Star Bulk Carriers Corp. SBLK20/26 WEEKS	$3.1B	$28.0	2026-07-28	Mar 2026
ZIM Integrated Shipping Services Ltd. ZIM	$2.9B	$24.0	2026-07-28	Mar 2026
Danaos Corporation DACAHEAD22/26 WEEKS	$2.6B	$140	2026-07-28	Mar 2026
Navios Maritime Partners L.P. NMMAHEAD19/26 WEEKS	$2.3B	$79.2	2026-07-28	Mar 2026
Okeanis Eco Tankers Corp. ECO20/26 WEEKS	$2.3B	$58.4	2026-07-28	Mar 2026
Costamare Inc. CMRE	$1.9B	$15.4	2026-07-28	Mar 2026
SFL Corporation Ltd. SFL19/26 WEEKS	$1.6B	$12.1	2026-07-28	Mar 2026
Global Ship Lease, Inc. GSL	$1.6B	$43.6	2026-07-28	Mar 2026
Capital Clean Energy Carriers Corp. CCECAHEAD	$1.4B	$22.7	2026-07-28	Mar 2026
Genco Shipping & Trading Limited GNK18/26 WEEKS	$1.1B	$25.4	2026-07-28	Mar 2026
Safe Bulkers, Inc. SBAHEAD18/26 WEEKS	$761M	$7.5	2026-07-28	Mar 2026
Himalaya Shipping Ltd. HSHPAHEAD20/26 WEEKS	$718M	$15.3	2026-07-28	Mar 2026
Ardmore Shipping Corporation ASC18/26 WEEKS	$669M	$16.4	2026-07-28	Mar 2026
Euroseas Ltd. ESEAAHEAD	$538M	$76.2	2026-07-28	Mar 2026
Pangaea Logistics Solutions Ltd. PANL	$493M	$7.5	2026-07-28	Mar 2026
Costamare Bulkers Holdings Limited CMDBAHEAD	$448M	$18.5	2026-07-28	Mar 2026
Seanergy Maritime Holdings Corp. SHIP22/26 WEEKS	$348M	$16.1	2026-07-28	Mar 2026
StealthGas Inc. GASS	$329M	$8.9	2026-07-28	Mar 2026
Diana Shipping Inc. DSX	$259M	$2.2	2026-07-28	Mar 2026
SEACOR Marine Holdings Inc. SMHI	$216M	$8.0	2026-07-28	Mar 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 23 Marine Shipping companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Mar 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

Marine Shipping company comparison FAQs

These 18 answers restate the Marine Shipping comparison above in question form. Every one is computed from the same 23 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Marine Shipping company is the biggest?

ZIM Integrated Shipping Services Ltd. is the largest, with trailing-twelve-month revenue of $6,295 million, ahead of Kirby Corporation at $3,422 million. That covers 23 of 23 companies with comparable reporting through Mar 2026.

Which Marine Shipping company is growing fastest?

Okeanis Eco Tankers Corp. has the fastest revenue growth at 33.1% year on year, across 22 of 23 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Marine Shipping company has the best profit margins?

Euroseas Ltd. has the highest operating margin at 61.2%, from 23 of 23 comparable companies. Seanergy Maritime Holdings Corp. shows the biggest recent improvement, at +43.9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Marine Shipping company makes the most profit?

Danaos Corporation earns the most, at $520 million of trailing-twelve-month net profit, from 23 of 23 comparable companies. Diana Shipping Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Marine Shipping company earns the highest return on capital?

Okeanis Eco Tankers Corp. leads on return on capital employed at 8.6%, across 23 of 23 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Marine Shipping stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Diana Shipping Inc. screens cheapest at 0.1×. Only 17 of 23 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Marine Shipping company has the strongest balance sheet?

StealthGas Inc. carries the lowest comparable gross debt at $0 million, from 23 of 23 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Marine Shipping company is investing most in new capacity?

Okeanis Eco Tankers Corp. reports the largest capital spending at $242 million, across 23 of 23 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Marine Shipping sector beating the market?

Marine Shipping has outperformed S&P 500 by 43.4% over the last 52 weeks and 0.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 20 of 23 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Marine Shipping stock has the strongest price momentum?

Okeanis Eco Tankers Corp. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Marine Shipping company scores highest for research priority?

Okeanis Eco Tankers Corp. scores 74.9 out of 100 with 86.2% evidence confidence, from 33.4 points on growth and earnings, 15.7 on capital efficiency, 11.1 on valuation and 14.7 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Marine Shipping companies does this comparison cover, and over what period?

It compares 23 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Marine Shipping sector?

The 23 Marine Shipping companies on this page carry $43,126 million of combined market value. Kirby Corporation is the largest at $7,778 million, about 18% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Marine Shipping sector's P/E ratio?

The median price-to-earnings ratio across the 23 Marine Shipping companies on this page is 11.5×, measured on the 22 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Marine Shipping sector performing?

20 of the 23 covered Marine Shipping companies are beating S&P 500 on Mansfield relative strength. The sector itself is 43.4% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Marine Shipping stocks are listed in the US?

This comparison covers 23 listed Marine Shipping companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.