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Shipping and barges

The 57 companies in this industry listed on the NYSE and Nasdaq are worth $101 bn combined; the largest are Frontline plc (FRO), Kirby Corporation (KEX) and Matson (MATX). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Evenly matched
57 companies value 101 bn revenue 45 bn margin 26.1% free cash flow 11 bn avg. score 5.5
FRO holds 11.2% of the group's value, 1.6x the runner-up · KEX leads the industry without being the largest
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 FRO Frontline plc
Cyprus · score 6.4
 11% 11 bn 3.0 bn 49.4% 0.7 bn 6.1% 6.2% Crude and product tankers · Cyprus — revenue of $3bn
2 KEX Kirby Corporation
United States · score 6.2
 7% 7.2 bn 3.5 bn 10.2% 0.5 bn 6.6% — Inland barge transport of petrochemicals, and diesel engines · Largest operator of tank barges on US inland waterways
3 MATX Matson
United States · score 6.0
 7% 6.9 bn 3.5 bn 13.4% 0.2 bn 3.3% 0.6% Ocean shipping and logistics in the Pacific · Dominates ocean shipping to Hawaii, Alaska and the Pacific islands
4 CMBT CMB.TECH NV
Belgium · score 7.7
 5% 5.5 bn 2.3 bn 37.0% 0.8 bn 14.4% 4.8% Tankers, bulk carriers and alternative-fuel vessels · Belgium — revenue of $2.3bn
5 INSW International Seaways, Inc.
United States · score 8.0
 5% 5.2 bn 1.3 bn 62.0% 0.6 bn 12.2% 7.9% Crude oil and product tankers · New York — revenue of $1.3bn
6 HAFN Hafnia Ltd
Singapore · score 7.8
 5% 5.0 bn 2.7 bn 24.7% 0.6 bn 11.8% 7.3% Product tankers, from Singapore · Singapore — revenue of $2.7bn
7 STNG Scorpio Tankers Inc.
Monaco · score 3.1
 4% 4.2 bn 0.9 bn 36.7% -0.1 bn -1.9% 2.0% Refined petroleum product tankers · Monaco — revenue of $938m
8 TDW TIDEWATER INC
United States · score 6.3
 4% 4.0 bn 1.4 bn 18.3% 0.3 bn 6.7% — Offshore support vessels for oil, 208 ships in 30 countries · Texas — revenue of $1.3bn
9 TRMD TORM plc
United Kingdom · score 6.3
 4% 3.8 bn 1.3 bn 46.7% 0.2 bn 5.3% 6.4% Product tankers carrying refined oil products such as gasoline, diesel and jet fuel · United Kingdom — revenue of $1.3bn
10 BWLP BW LPG Ltd
Singapore · score 7.9
 4% 3.7 bn 1.1 bn 44.6% 0.6 bn 17.0% 8.4% Liquefied petroleum gas carriers · Singapore — revenue of $1.1bn
11 DHT DHT Holdings, Inc.
Bermuda · score 7.5
 4% 3.7 bn 0.5 bn 42.3% 0.3 bn 7.5% 3.2% Crude oil tankers · Bermuda — revenue of $498m
12 ZIM ZIM Integrated Shipping
Israel · score 8.1
 4% 3.5 bn 6.9 bn 7.0% 2.3 bn 65.9% 14.8% Container shipping, from Israel · Container carrier that pays special dividends at freight-rate peaks
13 TNK TEEKAY TANKERS LTD.
Bermuda · score 5.7
 3% 3.3 bn 0.9 bn 36.9% 0.1 bn 3.5% 2.1% Crude oil and product tankers · Bermuda — revenue of $952m
14 SBLK Star Bulk Carriers Corp.
Greece · score 7.1
 3% 3.2 bn 1.2 bn 23.9% 0.3 bn 9.0% 3.6% Dry bulk carriers · Greece — revenue of $1.2bn
15 ECO Okeanis Eco Tankers Corp.
Greece · score 8.0
 3% 3.2 bn 0.7 bn 56.9% 0.4 bn 11.4% 6.0% Crude oil tankers, from Greece · Greece — revenue of $706m
16 DAC Danaos Corp
Greece · score 8.4
 3% 2.9 bn 1.1 bn 51.3% 0.7 bn 25.0% 2.3% Container shipping · Greece — revenue of $1.1bn
17 NMM Navios Maritime Partners L.P.
Greece · score 6.6
 3% 2.5 bn 1.5 bn 30.3% 0.3 bn 11.8% 0.3% Dry bulk carriers, container ships and tankers · Greece — revenue of $1.5bn
18 LPG DORIAN LPG LTD.
United States · score 8.0
 2% 2.2 bn 0.6 bn 55.0% 0.2 bn 10.7% 5.6% Liquefied petroleum gas and ammonia carriers · Connecticut — revenue of $585m
19 CDLR Cadeler A/S
Denmark · score 0.5
 2% 1.9 bn 0.7 bn 45.2% -0.9 bn -49.0% — Offshore wind turbine installation vessels, from Denmark · Denmark — revenue of $696m
20 CMRE Costamare Inc.
Monaco · score 8.2
 2% 1.7 bn 0.9 bn 39.5% 0.5 bn 28.2% 4.9% Container ships and dry bulk carriers, Greek family owned · Monaco — revenue of $857m
21 SFL SFL Corp Ltd.
Bermuda · score 6.4
 2% 1.7 bn 0.7 bn 8.8% 0.2 bn 13.9% 6.3% Ownership and chartering of ships and maritime assets · Bermuda — revenue of $729m
22 NAT NORDIC AMERICAN TANKERS Ltd
Bermuda · score 4.1
 2% 1.6 bn 0.3 bn 4.2% 0.0 bn 1.2% 5.3% Suezmax crude oil tankers · Bermuda — revenue of $292m
23 TEN TSAKOS ENERGY NAVIGATION LTD
Greece · score 6.9
 2% 1.5 bn 1.0 bn 33.8% 0.2 bn 13.5% 5.0% Shipping of crude oil and petroleum products · Greece — revenue of $960m
24 GSL Global Ship Lease, Inc.
Greece · score 8.7
 2% 1.5 bn 0.8 bn 49.1% 0.5 bn 34.6% 5.9% Container shipping · Greece — revenue of $780m
25 NVGS Navigator Holdings Ltd.
United Kingdom · score 7.3
 1% 1.4 bn 0.6 bn 22.8% 0.2 bn 14.2% 1.2% Liquefied gas and ethylene carriers, since 1997 · United Kingdom — revenue of $614m
26 TK TEEKAY CORP LTD
Bermuda · score 6.6
 1% 1.2 bn 0.9 bn 10.3% 0.1 bn 9.3% 7.1% Crude oil shipping · Bermuda — revenue of $950m
27 GNK GENCO SHIPPING & TRADING LTD
United States · score 6.5
 1% 1.1 bn 0.4 bn 9.1% 0.1 bn 6.6% 4.8% Dry bulk carriers for iron ore, coal, grain and bauxite · New York — revenue of $441m
28 ASC Ardmore Shipping Corp
Bermuda · score 7.7
 1% 0.8 bn 0.4 bn 29.7% 0.1 bn 16.8% 3.5% Shipping of refined petroleum products · Bermuda — revenue of $368m
29 SB SAFE BULKERS, INC.
Monaco · score 5.9
 1% 0.8 bn 0.3 bn 13.4% 0.1 bn 12.7% — Bulk carriers for coal, grain and iron ore · Monaco — revenue of $288m
30 HSHP Himalaya Shipping Ltd.
Bermuda · score 6.5
 1% 0.8 bn 0.2 bn 31.4% 0.1 bn 11.6% 7.3% LNG-powered Newcastlemax bulk carriers · Bermuda — revenue of $167m
31 PANL Pangaea Logistics Solutions Ltd.
United States · score 7.2
 1% 0.5 bn 0.7 bn 6.7% 0.1 bn 13.9% 2.7% Dry bulk shipping and logistics · Rhode Island — revenue of $710m
32 CMDB Costamare Bulkers Holdings Ltd
Monaco · score 5.8
 1% 0.5 bn 0.7 bn 0.6% 0.1 bn 16.8% — Chartering and operation of bulk carriers · Monaco — revenue of $664m
33 ESEA EUROSEAS LTD.
Greece · score 8.6
 1% 0.5 bn 0.2 bn 60.0% 0.1 bn 31.5% 5.4% Short-sea container ships, from Greece · Greece — revenue of $227m
34 KNOP KNOT Offshore Partners LP
United Kingdom · score 5.9
 0% 0.3 bn 0.4 bn 3.9% 0.1 bn 46.2% — Dynamic positioning tankers for offshore fields · United Kingdom — revenue of $382m
35 DSX DIANA SHIPPING INC.
Greece · score 6.1
 0% 0.3 bn 0.2 bn 27.9% 0.1 bn 20.5% 1.6% Dry bulk carriers, from Greece, since 1999 · Greece — revenue of $216m
36 SHIP Seanergy Maritime Holdings Corp.
Greece · score 7.3
 0% 0.3 bn 0.2 bn 31.5% 0.1 bn 24.3% 2.8% Capesize dry bulk carriers · Greece — revenue of $194m
37 GASS StealthGas Inc.
Greece · score 7.3
 0% 0.3 bn 0.2 bn 35.0% 0.1 bn 27.1% — Liquefied petroleum gas carriers, from Greece · Greece — revenue of $173m
38 IMPP Imperial Petroleum Inc./Marshall Islands
Greece · score 7.2
 0% 0.2 bn 0.2 bn 36.8% 0.1 bn 52.8% — Oil tankers and dry bulk carriers · Greece — revenue of $241m
39 SMHI SEACOR Marine Holdings Inc.
United States · score 0.0
 0% 0.2 bn 0.2 bn -13.2% -0.1 bn -34.5% — Offshore vessels for oil and offshore wind farms · Texas — revenue of $210m
40 EDRY EuroDry Ltd.
Greece · score 6.3
 0% 0.1 bn 0.1 bn 19.2% 0.0 bn 18.1% — Dry bulk carriers, from Greece · Greece — revenue of $56m
41 HMR Heidmar Maritime Holdings Corp.
Greece · score 4.9
 0% 0.1 bn 0.1 bn -40.4% 0.0 bn 12.7% 7.7% Commercial and technical management of vessel pools · Greece — revenue of $56m
42 GLBS GLOBUS MARITIME LTD
Greece · score 6.3
 0% 0.1 bn 0.1 bn 12.7% 0.0 bn 30.3% — Dry bulk carriers, from Greece · Greece — revenue of $53m
43 PXS Pyxis Tankers Inc.
Greece · score 5.6
 0% 0.1 bn 0.0 bn 20.0% 0.0 bn 20.1% — Refined product tankers, from Greece · Greece — revenue of $42m
44 TORO TORO CORP.
Cyprus · score 1.0
 0% 0.1 bn 0.0 bn 16.4% -0.1 bn -43.4% — Liquefied petroleum gas and refined product carriers · Cyprus — revenue of $24m
45 HTCO High-Trend International Group
Singapore · score 3.8
 0% 0.0 bn 0.3 bn -5.0% 0.0 bn 55.1% — Shipping and trading, from Singapore · Singapore — revenue of $252m
46 PSHG Performance Shipping Inc.
Greece · score 6.2
 0% 0.0 bn 0.1 bn 29.7% 0.1 bn 337.9% — Oil tankers · Greece — revenue of $113m
47 CTRM Castor Maritime Inc.
Cyprus · score 2.0
 0% 0.0 bn 0.1 bn 109.1% -0.1 bn -454.5% — Dry bulk and container shipping, with ship management · Cyprus — revenue of $90m
48 USEA United Maritime Corp
Greece · score 0.0
 0% 0.0 bn 0.0 bn -4.9% -0.0 bn -34.2% 9.6% Dry bulk shipping · Greece — revenue of $35m
49 VNTG Vantage Corp (Singapore)
Singapore · score 0.4
 0% 0.0 bn 0.0 bn -7.4% 0.0 bn -28.1% 13.4% Tanker shipbroking for petroleum products, petrochemicals and vegetable oils · Singapore — revenue of $18m
50 EHLD Euroholdings Ltd.
Greece · score 2.6
 0% 0.0 bn 0.0 bn 111.6% -0.0 bn -85.5% 3.6% Ships: one product tanker and two container ships · Greece — revenue of $13m
51 TOPS TOP SHIPS INC.
Greece · score 4.0
 — — 0.1 bn 5.0% 0.0 bn — — Product tankers, from Greece · Greece — revenue of $62m
52 CISS C3is Inc.
Greece · score 6.0
 — — 0.1 bn 41.3% 0.0 bn — — Dry bulk carriers and product tankers · Greece — revenue of $51m
53 NCT Intercont (Cayman) Ltd
Hong Kong · score 2.1
 — — 0.0 bn -1.9% 0.0 bn — — International shipping, since 2011 · Hong Kong — revenue of $24m
54 RUBI Rubico Inc.
Greece · score 5.6
 — — 0.0 bn 11.2% 0.0 bn — — Two Suezmax tankers · Greece — revenue of $24m
55 SVRN OceanPal Inc.
Greece · score 0.9
 — — 0.0 bn -96.7% -0.0 bn — — Dry bulk shipping · Greece — revenue of $19m
56 RBNE Robin Energy Ltd.
Cyprus · score 2.7
 — — 0.0 bn 39.4% -0.0 bn — — Dry bulk shipping · Cyprus — revenue of $14m
57 ICON Icon Energy Corp
Greece · score 0.0
 — — 0.0 bn -52.1% 0.0 bn — — Dry bulk shipping · Greece — revenue of $2m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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