Although things are improving in the dry bulk sector, profitability is still far off. Fearnleys estimates that the carriers have only come halfway through the crisis. However, 2019 could bring a much-needed boost to the sector.
So far, 2017 seems to be the year where dry bulk carriers can finally report overall improvement. Financial results across the board have been much better than in 2016, and shareholders generally seem to be pleased as share prices climb.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.