Shipping Stocks: Horizon Swells

As oil climbed past $46 per barrel, shipping stocks found themselves back on the plus side Thursday, with small-cap name Horizon Lines(HRZ Quote) leading the group in percentage gains.

Shares of Horizon, based in Charlotte, N.C., rose 17.4% Thursday to $3.44 -- somewhat off their 52-week low of $1.95 but nowhere near their 52-week high of $20.29.

The company recently reported a fourth-quarter net loss of $18.8 million, or 63 cents per share, and said it expected 2009 to "be a very challenging year for the ocean transport industry," according to Horizon CEO Chuck Raymond. Elsewhere:

Diana Shipping(DSX Quote) rose 4.3% to $13.47.

DryShips(DRYS Quote) rose 3.1% to $4.31.

Genco Shipping(GNK Quote) rose 5.5% to $12.84.

Excel Maritime(EXM Quote) rose 3.4% to $4.28.

Euroseas (ESEA Quote) rose 5.7% to $4.66.

Eagle Bulk Shipping(EGLE Quote) rose 6.6% to $4.88.

Teekay(TGP Quote) rose 7.9% to $19.72.

Seacor Holdings(CKG Quote) rose 2.9% to $55.28.

Tidewater(TDW Quote) rose 6.6% to $34.21.

Frontline(FRO Quote) shares rose 3.1% to $17.49.