Eagle Bulk eyes turnaround in the dry bulk market despite growing deficit

US-based Eagle Bulk closed the third quarter with an increased deficit. Still, the company is optimistic about the market and thinks demand is normalizing after bottoming out amid the global lockdowns earlier this year.

Photo: Marine Money

US-based dry bulk shipping company Eagle Bulk thinks the dry bulk market is normalizing after bottoming out earlier in the year due to Covid-19, says CEO Gary Vogel in connection with the company's interim report for the third quarter.

"The Baltic Supramax Index continued to recover in the third quarter, since bottoming in April while in the midst of the global lockdown. I believe this positive trend is indicative of a normalization of freight demand," says Vogel.

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