At the beginning of 2015, approximately 30 of the biggest and pacesetting dry bulk carriers have lost around one fifth of their market value, but companies such as Danish Norden, in particular, and New York-listed carriers such as Scorpio Bulkers, Dryships (down 74.4 percent) and Genco Shipping (down 68.6 percent) have been in virtual free-fall during the past year. And everything indicates another lukewarm year ahead for the dry bulk carriers.
According to Norwegian Fearnley Securities' survey on Monday, December 29th, of the 27 dry bulk carriers covered by the analyst agency, the biggest loser in 2014 is Scorpio Bulkers, which divested seven dry bulk newbuildings in the week ahead of Christmas. Scorpio Bulkers' share has dropped 80.5 percent in 2014, while Norden has lost 55.2 percent. The two companies are currently worth around USD 275 million and USD 852 million, respectively.