Core Viewpoint - ZIM Integrated Shipping is positioned favorably due to its asset-light model and strong operational efficiency, while Star Bulk Carriers is benefiting from improving trade relations and fleet expansion, but faces challenges in earnings consistency [2][3][10][12]. Group 1: ZIM Integrated Shipping - ZIM operates an asset-light model focusing on leasing vessels, which allows it to maintain strong pricing power and profitability by avoiding low-margin segments [3]. - The company has a high dividend yield, with a regular dividend of approximately $382 million or $3.17 per share declared in the December quarter, and $89 million or 74 cents per share in the first quarter of 2025, reflecting about 30% of the quarter's net income [4]. - ZIM has consistently beaten earnings expectations, demonstrating resilience despite challenging market conditions [5]. - Ongoing trade tensions, particularly with significant exposure to China and the U.S., pose risks, but ZIM's business model allows it to shift capacity to more profitable routes if needed [6][16]. - Elevated spot and contracted rates are expected to support ZIM's performance in 2025, making it a more attractive investment compared to SBLK [17]. Group 2: Star Bulk Carriers - Star Bulk has grown to be one of the largest dry bulk shipping companies, focusing on operational efficiency and environmental sustainability [9]. - The company declared a dividend of 5 cents per share in March, marking its 17th consecutive quarter of capital returns, and is also active in share buybacks [11]. - Easing U.S.-China trade relations are expected to positively impact the dry bulk market, with strong economic growth in China likely to boost demand for commodities like iron ore and coal [10]. - However, SBLK has not demonstrated a strong earnings surprise history, missing earnings estimates twice in the last four quarters [12]. - SBLK may face significant risks from ongoing trade conflicts, particularly with China, which could lead to lower import demand for key commodities [16].