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Top Shipping Stocks in India 2024

Top Shipping Stocks in India 2024

Top Shipping Stocks in India - stockdaddy

Did you know that India ranks as the 16th largest maritime nation globally, with its maritime sector accounting for 95% of the country's trade volume and 70% by monetary value. 


The performance of the shipping stocks benefits from global trade between nations, strong market demands, and technological advancements. The shipping sector remains in high demand as the world becomes more interconnected.


In the Union Budget of 2024, shipping companies are expected to grow as the government may have positive development plans. Recently Shipping stocks skyrocket 20%


Investing in shipping can be fruitful for investors as these stocks tend to go up and down in cycles that follow the health of the global economy. If the global economy is booming and the global trade between countries is on the rise, the shipping stocks tend to surge. However, if the global economy is down and there is less trade between nations, then the prices of these same stocks tend to underperform.

The prices of shipping stocks can swing wildly given its dependence of these stocks on the global phenomenon which is that they can be risky. It is always advised that you should have a closer look at the global economy before investing in these stocks.


From best stock market courses learn to predict the price movement of a stock using historical data and volume.



Snapshot of the Indian Shipping Industry

India’s strategic location on the world’s shipping routes with a vast coastline of approximately 7,517 km plays in their hands. As of 2021, India owns over 30% of the global share of the ship breaking industry. At present, India ranks as the 16th largest maritime nation globally, with its maritime sector accounting for 95% of the country's trade volume and 70% by monetary value.


India also launched a Maritime Vision 2030 under which they have identified over 150 initiatives to accelerate and develop India’s diverse maritime sector even more. The Indian government also launched the Sagar Mala program in 2017 which aimed at developing Indian ports and growing logistics-intensive industries. To achieve this the GOI plans to invest $123 billion across 415 maritime projects. 


India has a huge network of ports for handling cargo ships. There are 12 big government-controlled ports, like the giant Jawaharlal Nehru Port Trust, and also around 200 smaller ports managed by individual states. Jawaharlal Nehru Port Trust is actually the first major port in India to only handle the facilities and land, letting private companies take care of the actual shipping operations. On another note, India is a world leader in ship recycling, ranking among the top five countries for this activity.



Top Shipping Stocks to invest in India in 2024


Let’s have an overview of the top Indian shipping stocks which you can invest in 2024: But before investing there are some important ratios you must know in stock market.


1). GE Shipping

Founded in the year 1948, the Great Eastern Shipping Company Limited is a private Indian company which deals in transporting petroleum products, crude oil, gas and dry bulk goods. Started with the purchase of a Liberty ship, the company now owns and operates 43 ships and 23 offshore assets. 

The company has a big fleet of vessels serving diverse clients like the JAG LOK and JAG LALIT to haul crude oil, while the JAG LEENA might be carrying liquified petroleum gas (LPG) for cooking fuel. They also have special ships for dry goods like iron ore or grain.


2). Shipping Corporation of India Limited

Shipping Corporation is a government owned Indian shipping company which engages in goods and passenger transportation. The company have a diverse maritime transportation segment ranging from Liners, Bulk Carriers, Tankers to technical and offshore supply.

The government granted the company back in 2008 and currently it owns 59 vessels including 32 tankers, 15 bulk carriers, 2 liners, 10 offshore supply with a total of 5311210 DWT. Additionally, the company has achieved a remarkable one-month return of 15.40%.


3). SEAMEC Limited

SEAMEC Limited is a subsidiary company of HAL and is a prominent name in the Indian shipping industry. The company owns and operates provides diving services, manned and unmanned subsea operations and other related activities with the 4 multi-support vessels that it owns. It is the owner of the largest fleet of multi-functional vessels in the country. 

The company also deals in offshore oilfield services both in India and abroad. Apart from providing services related to Diving Support Vessels, the company has also undertaken diversified Tunnel construction projects.


4) Essar Shipping

Came into being in 2010, Essar Shipping Limited is another prominent player in the Indian shipping industry. It is an integrated logistics firm which engages in sea transportation, logistics, and oilfield services. The company also deals in the sphere of fleet operation and chartering activities in international and coastal voyages. The business segments of the company is diversified into:

1) Fleet operating and chartering (tankers and dry bulkers)
2) Oilfields services (land rigs and semi- submersible rig)
3) Logistics services (trucks, trailers, and tippers)


5) Global Offshore Services Limited

Global Offshore Services Limited is one of the trusted and renowned names in the Indian shipping industry. Incorporated in 1976, this Indian company primarily deals in chartering offshore support vessels. Apart from this, it also engages in providing assistance to exploration and production companies and aids oil and gas projects.

The Platform Supply Vessels of their company provides service in both India and West Africa whereas its anchor-handling tug and supply vessels operate in India. The company has strong financials to back its name and has a one year return of 123.01%.


6) Chowgule Steam

Chowgule Steamships limited is another Indian shipping company in the industry where you can invest in, though it is going through some tough times in the recent past. The company primarily engages in sea cargo transportation, maintaining a fleet, and actively pursuing vessel acquisitions. The company operated only one vessel through its wholly owned subsidiaries. Due to the vessel's age and financial limitations, it was sold in October 2021, leading to the closure of all these subsidiaries.




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