WorkBoat Composite Index
The WorkBoat Composite Index is a proprietary stock market benchmark created by WorkBoat magazine — the leading trade publication for the U.S. inland and coastal maritime industry. It measures the collective financial performance of publicly traded companies that build, operate, and supply workboats and commercial vessels across America’s waterways.
Unlike broad marine shipping indices, the WorkBoat Composite Index is purpose-built for the domestic workboat sector: tugboats, barges, offshore service vessels (OSVs), passenger ferries, dredges, and defense-related shipbuilding. This makes it uniquely relevant to maritime professionals, investors, and analysts tracking the health of the U.S. commercial marine industry.
What’s included in the index
The index is grouped into three core segments of the commercial marine industry:
- Operators – Vessel owners and service providers across offshore, inland, and coastal markets
- Shipyards – Publicly traded builders and repair facilities supporting U.S. vessel construction
- Suppliers – Manufacturers and service providers supplying equipment, engines, and marine systems
Together, these segments provide a broad view of the industry’s economic activity.
View the live WorkBoat Composite Index below:
How to use the index
- Track overall industry performance in real time
- Compare Operators, Shipyards, and Suppliers
- Identify trends across key maritime sectors
- Follow companies featured in WorkBoat coverage
Frequently Asked Questions
What is the WorkBoat Composite Index?
The WorkBoat Composite Index is a proprietary financial benchmark that tracks the stock performance of over 25 publicly traded companies in the U.S. maritime and workboat industry. It covers three sectors: Operators (tugboat, barge, offshore vessel companies), Shipyards (defense and commercial shipbuilders), and Suppliers (engine manufacturers, marine equipment providers).
What companies are included in the index?
The index tracks major maritime companies including Kirby Corporation (KEX), Matson Inc. (MATX), Tidewater (TDW), Huntington Ingalls Industries (HII), Northrop Grumman (NOC), Caterpillar (CAT), Cummins (CMI), Helix Energy Solutions (HLX), SEACOR Marine (SMHI), and others across the operator, shipyard, and supplier segments.
How often is the index updated?
Monthly. Each report includes month-over-month percentage changes, year-to-date performance, sector breakdowns, and comparison against benchmarks like the S&P 500 and Dow Jones Industrial Average.
What drives maritime stock performance?
Key factors include offshore oil and gas drilling activity, U.S. defense and Coast Guard procurement budgets, Jones Act trade volumes, inland waterway freight demand, container shipping rates (especially Pacific trade lanes), environmental regulations affecting fleet investment, and broader macroeconomic conditions.
Can I use this for investment decisions?
The WorkBoat Composite Index is an informational tool published by a trade publication — it is not investment advice. Investors should conduct their own due diligence and consult financial professionals.
