As oil climbed past $46 per barrel, shipping stocks found themselves back on the plus side Thursday, with small-cap name Horizon Lines ( HRZ) 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) rose 4.3% to $13.47. DryShips (DRYS) rose 3.1% to $4.31. Genco Shipping (GNK) rose 5.5% to $12.84. Excel Maritime (EXM) rose 3.4% to $4.28. Euroseas (ESEA) rose 5.7% to $4.66. Eagle Bulk Shipping (EGLE) rose 6.6% to $4.88. Teekay (TGP) rose 7.9% to $19.72. Seacor Holdings (CKG) rose 2.9% to $55.28. Tidewater (TDW) rose 6.6% to $34.21. Frontline (FRO) shares rose 3.1% to $17.49.