Unless you’ve been under a rock, you’re well aware of the global supply chain crises.
One of the most important?
The shipping situation.
It’s only going to get worse, too…
Look no further than the Los Angeles and Long Beach ports in sunny Southern California.
As of Sunday, there were almost 90 vessels waiting to dock at these ports.
When you combine these two ports’ activity levels, they are the 10th-busiest in the world — and the LA one is the busiest in the US.
Thanks to the congestion at the port, one ship managed to strike an oil pipeline and cause an oil spill off the Orange County coast.
The Coast Guard actually suspects that ships may have hit pipelines several times over the past few months.
Meanwhile, ships are now so far out in the water that it’s too deep for them to drop anchors and stay in place.
To make matters worse, strong winds are in the weather forecasts for the area, meaning these ships have to be ready for inclement weather.
All this comes as we head into peak shipping season. We are, after all, close to the holidays.
Some shipping stocks are hot because of this madness…
Which is why I issued some under-the-radar shipping stock picks a couple weeks back.
For example, one is Pyxis Tankers Inc (PXS), a Greek shipping stock. It had (and still has) a nice book value.
Also, it’s still a buy — but it’s not the only shipping stock with potential.
In fact, I have 4 total shipping stocks (including PXS) in my Under the Radar portfolio. Details on all of them are in the PFG member’s area.
Speaking of Under the Radar...
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