The containership sector helped shipping stocks gain an average of 1.9% last week as the sector's reporting of quarterly earnings enters a third full week.
Greek owner Danaos was far and away the best performer in the week past with a 37% gain, according to Jefferies ranking of the 30 New York-listed shipping names under its coverage. That helped push containership owners up 17% overall.
Danaos beat analyst expectations for second-quarter earnings while announcing big improvements in carbon emissions, but Jefferies lead shipping analyst Randy Giveans attributed its weekly gains to an announcement of a $10m shares buyback programme.
At the other end of the spectrum, shares of Scorpio Bulkers fell 11%. While this followed a miss on earnings estimates, the drop may reflect investors' hesitating on Scorpio's announced move into the wind turbine installation vessel (WTIV) sector.
Some analysts expect Scorpio to go all in on that emerging market while gradually selling off the bulker fleet.
Scorpio's drop helped pull dry bulk to a 3% loss overall.
While tankers suffered a 2% loss, there was a divergence by operating sector. Crude tankers managed a 1% gain while product tanker owners took a 7% plunge.
Both gas sectors had a profitable week. LNG names advanced 6% with five of six owners climbing, led by Golar LNG's 16% surge. LPG carrier owners finished 2% higher, led by Navigator Gas' 8% advance.
"Continuing on last week’s increased trading volumes, we expect another lively week as second-quarter earnings season continues in earnest," Giveans said.
"In addition to second-quarter numbers, the focus will be third-quarter rate guidance and management outlooks for the second half of the year."
Tanker owners DHT Holdings and Diamond S Shipping are among the listings scheduled to report this week.
