9 top shipping stocks to buy in 2023

The best shipping stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

9 shipping stocks to buy in 2023

We round up a selection of stocks in or related to the freight industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

1. Expeditors International of Washington (EXPD)
2. FedEx Corporation (FDX)
3. CH Robinson Worldwide (CHRW)
4. Hub Group (HUBG)
5. United Parcel Service (UPS)
6. XPO Logistics (XPO)
7. Radiant Logistics (RLGT)
8. Teekay Tankers (TNK)
9. Euronav (EURN)

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The shipping stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering shipping stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

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How to invest in shipping stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2023.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like EXPD or FDX.
5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into shipping stocks

If you're interested in investing in the freight industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

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1. Expeditors International of Washington (EXPD)

Expeditors International of Washington, Inc. , together with its subsidiaries, provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.

Expeditors International of Washington stock opened the day at $119.12 after a previous close of $120.09. The latest price was $121.81 (25-minute delay). Expeditors International of Washington is listed on the NASDAQ, has a trailing 12-month revenue of around USD10.5 billion and employs 18,625 staff.

• Market capitalization: $17,174,801,408
• P/E ratio: 22.1217
• PEG ratio: 1.57

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2. FedEx Corporation (FDX)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

FedEx Corporation stock opened the day at $262.63 after a previous close of $264.42. The latest price was $265.60 (25-minute delay). FedEx Corporation is listed on the NYSE, has a trailing 12-month revenue of around USD$88.6 billion and employs 328,000 staff.

• Market capitalization: $64,768,303,104
• P/E ratio: 15.7271
• PEG ratio: 1.2201

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3. CH Robinson Worldwide (CHRW)

C. H. Robinson Worldwide, Inc. , together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services worldwide.

CH Robinson Worldwide stock opened the day at $83.19 after a previous close of $83.26. The latest price was $85.72 (25-minute delay). CH Robinson Worldwide is listed on the NASDAQ, has a trailing 12-month revenue of around USD$18.4 billion and employs 16,240 staff.

• Market capitalization: $9,496,558,592
• P/E ratio: 24.2292
• PEG ratio: 2.7062

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4. Hub Group (HUBG)

Hub Group, Inc. , a supply chain solutions provider, offers transportation and logistics management services in North America. The company's transportation services include intermodal, truckload, less-than-truckload, flatbed, temperature-controlled, and dedicated and regional trucking, as well as final mile, railcar, small parcel, and international transportation.

Hub Group stock opened the day at $78.67 after a previous close of $78.33. The latest price was $80.44 (25-minute delay). Hub Group is listed on the NASDAQ, has a trailing 12-month revenue of around USD$4.5 billion and employs 5,610 staff.

• Market capitalization: $2,394,906,624
• P/E ratio: 11.1855
• PEG ratio: 2.0802

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5. United Parcel Service (UPS)

United Parcel Service, Inc. , a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U. S.

United Parcel Service stock opened the day at $153.72 after a previous close of $154.91. The latest price was $155.92 (25-minute delay). United Parcel Service is listed on the NYSE, has a trailing 12-month revenue of around USD$93.1 billion and employs 500,000 staff.

• Market capitalization: $129,518,313,472
• P/E ratio: 15.3877
• PEG ratio: 2.0322

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6. XPO Logistics (XPO)

XPO, Inc. provides freight transportation services in the United States, rest of North America, France, the United Kingdom, rest of Europe, and internationally. The company operates in two segments, North American LTL and European Transportation.

XPO Logistics stock opened the day at $89.92 after a previous close of $90.31. The latest price was $88.78 (25-minute delay). XPO Logistics is listed on the NYSE, has a trailing 12-month revenue of around USD$7.6 billion and employs 38,000 staff.

• Market capitalization: $10,341,312,512
• P/E ratio: 108.7439
• PEG ratio: 1.1852

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7. Radiant Logistics (RLGT)

Radiant Logistics, Inc. , a third-party logistics company, provides technology-enabled global transportation and value-added logistics solutions primarily in the United States and Canada. It offers domestic, international air, and ocean freight forwarding services; and freight brokerage services, including truckload and intermodal services.

Radiant Logistics stock opened the day at $6.00 after a previous close of $6.02. The latest price was $6.07 (25-minute delay). Radiant Logistics is listed on the NYSE MKT, has a trailing 12-month revenue of around USD$965.3 million and employs 872 staff.

• Market capitalization: $295,270,848
• P/E ratio: 20.9667
• PEG ratio: 0.78

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8. Teekay Tankers (TNK)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

Teekay Tankers stock opened the day at $50.83 after a previous close of $50.79. The latest price was $49.53 (25-minute delay). Teekay Tankers is listed on the NYSE, has a trailing 12-month revenue of around USD$1.4 billion and employs 1,750 staff.

• Market capitalization: $1,765,959,936
• P/E ratio: 3.2687
• PEG ratio: 31.59

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9. Euronav (EURN)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels.

Euronav stock opened the day at $18.00 after a previous close of $18.00. The latest price was $17.97 (25-minute delay). Euronav is listed on the NYSE, has a trailing 12-month revenue of around USD$1.3 billion and employs 2,946 staff.

• Market capitalization: $3,666,739,968
• P/E ratio: 5.3255
• PEG ratio: -3.43

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Bottom line

While it’s possible to turn a profit investing in shipping stocks, keep in mind that — like any investment — shipping stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the freight industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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