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Highlights
- Shipping stocks like TFI (TSX:TFII) and Algoma (TSX:ALC) gained increased attention after COVID lockdowns made marine shipping vital.
- Now that the pandemic seems to be a little under control, global supply channels are facing challenges once again amid the Russia-Ukraine war.
- TFII stock climbed by over 30 per cent year-over-year (YoY).
Shipping stocks like TFI International (TSX:TFII) and Algoma Central (TSX:ALC) gained increased attention after COVID-19 lockdowns made marine shipping vital to global economy.
Now that the pandemic seems to be a little under control, global supply channels are facing challenges once again amid the Russia-Ukraine war.
While such supply disruptions are worrisome, it can pave a way for investors to look back at shipping stocks. So, let us explore the two Canadian shipping stocks mentioned above.
TFI International Inc (TSX: TFII)
TFI International is a Canadian transportation company that provides logistical services across North America.
The Quebec-headquartered company reported total revenue of US$ 2.14 billion in Q4 FY2021, significantly up from US$ 1.12 billion in the same period of 2020.
Its revenue before fuel surcharge amounted to US$ 1.88 billion in the latest quarter compared to US$ 1.04 billion a year ago.
TFII stock climbed by over 30 per cent year-over-year (YoY) and closed at C$ 125.60 apiece on Friday, April 1.
Also read: Is it time to keep close watch on Air Canada (AC)?
Algoma Central Corporation (TSX: ALC)
Algoma Central is a marine transporter that operates on the Great Lakes.
The C$-662 million market cap firm posted a net profit of C$ 82,170 in 2021, representing a notable YoY growth of 79 per cent.
ALC stock swelled by almost seven per cent in the last six months and closed at C$ 17.53 apiece on Friday.
Also read: CP Rail & CNR: 2 TSX transport stocks to watch amid supply chain crisis
Bottomline
With the growing focus on an efficient supply chain system, TSX shipping stocks could be something to watch.
However, investors should also ideally note any rise in fuel costs and disruptions in the supply chain network that could create operational pressure and affect shipping businesses.
