Bulker stocks blazed a trail in the first quarter with Star Bulk Carriers leading the way in an improving market.
The 55 shipping stocks covered by Clarksons Platou Securities have gained 13% in the year to date, while the dry cargo peer group has climbed by two thirds in the opening three months of 2017.
Star Bulk headed the pack with a 127% jump. It was followed by peers Safe Bulkers and Scorpio Bulkers, which have risen by 86% and 77% respectively, according to analysts Frode Morkedal and Herman Hildan.
With Golden Ocean, Genco and Diana Shipping also showing strongly, the top six shipping stocks this year are all from the bulker sector.
Navigator Holdings, ranked seventh overall, was the best of the rest having risen by 48%.
At the opposite end of the scale, DryShips has retreated by 95% to pick up the wooden spoon as worst performer. Boxship players Diana Containerships and Danaos complete the bottom three.
