Mad Money Spotlight: Cramers' Shippers

Diana Shipping(DSX Quote), Frontline(FRO Quote) and Nordic American Tanker(NAT Quote) are the maritime carrier stocks Jim Cramer continues to like. But in the Lightning Round segment of his Friday Mad Money broadcast, Cramer singled out Star Bulk Carriers(SBLK Quote) as one shipper he's bearish on.

Shares of the Athens-based Star Bulk have nearly doubled year-to-date, a jump that has outpaced the performance of other dry-bulk shippers by a substantial margin. Industry giant Diana Shipping, for example, has seen its stock rise 23%, while smaller players like Paragon Shipping and Safe Bulkers have increased 13% and 10%, respectively.

Star Bulk stock received a bump recently after the company announced the inking of four new charter contracts, and the company estimates that 96% of its fleet's operating days are now booked for the rest of the year, a better percentage than many of its rivals. Nonetheless, Star Bulk has a relatively high debt level -- $331 million in total as of the end of 2008. ...