Posted on March 4, 2026
By DredgeWire
The DredgeWire Maritime Stock Index posted a strong gain of over 13% in February 2026, reflecting a sharp rally across offshore energy services, marine construction, and subsea infrastructure companies. The DredgeWire stock index clobbered the S&P 500 which was down slightly over the same period.
The broad-based advance marked one of the strongest months since the index launch, with several offshore and dredging-related firms delivering double-digit gains.
DredgeWire Stock Index: https://dredgewire.com/stocks/
Top February Performers
• Penta‑Ocean Construction Co., Ltd. — +30%
Japan’s major marine civil contractor delivered the strongest performance in the index during February, driven by continued momentum in Asian port, offshore wind, and coastal infrastructure markets. During February the company revised its operating profit projection upward to 2.3 times the prior fiscal year, marking a 27% increase just since the prior forecast.
• Tidewater Inc. — +23%
Shares of Tidewater rose sharply as offshore vessel demand strengthened and investors showed renewed confidence in the offshore energy service cycle.
• TechnipFMC plc — +19.6%
TechnipFMC benefited from continued strength in subsea project activity and improving visibility on offshore development spending.
Other Notable Movers
• Oceaneering International, Inc. — +17.5%
• DEME Group — +13%
• Great Lakes Dredge & Dock Corporation — +12%
GLDD of course during the month announced that they were going to be acquired later this year.
Orion (ORN) also rose nicely, over 6%.
The strong showing from both offshore service providers and marine construction companies highlights growing investor optimism around offshore energy development, port infrastructure investment, and dredging demand.
The DredgeWire Index is now up almost 25% in the first two months of the year (on an equal-weighted scale.) The maritime sector entered March with significant momentum, suggesting continued investor interest in companies tied to global marine infrastructure and offshore energy activity.
Reminder and note that the DredgeWire stock index weights each company equally, regardless of market capitalization, and is NOT offered as investment advice, but rather as a fun way to gauge in general terms sentiment about what’s going on in the industry. The percentages listed above are approximate.
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DredgeWire Stock Index: https://dredgewire.com/stocks/
