Even though last week's spot rates in the important capesize segment declined to below the level many ship operators pay to operate their ships, Norwegian investment bank Cleaves Securities maintains a positive outlook on the dry bulk market.
"We are still confident that the current weakness represents the low point in 2019 and predict that dry bulk rates will average at 140 percent higher than in the second quarter of 2019," projects Cleaves Securities Chief Analyst Joakim Hannisdal in the bank's weekly dry bulk report.
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