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Analysts: This is the strongest dry bulk carrier

The Greek company Diana Shipping has been aggressively purchasing vessels for historically low prices since 2010, and shipping analysts point to Diana Shipping as the most robust company in the weak dry bulk sector.

Photo: Pressefoto

Greece-based Diana Shipping has been highlighted as one of the few exceptions that shipping analysts still trust in despite the extremely weak dry bulk market and following a series of ominous 2014 annual reports from listed bulk carriers - several of which seem to be preparing for the perfect storm in 2015.

Diana Shipping, listed on the New York exchange, delivered weak results in 2014 along with the rest of industry, but the company has achieved the strongest balance in the dry bulk sector, which makes it possible for the carrier to navigate through the decline while patiently expanding the carrier's fleet and exploiting the low prices on vessels, says Fotis Guinnakoulis, leading shipping analyst at Morgan Stanley, in a comment on Diana Shipping's annual report earlier this week.

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