Major bulk carriers down more than 20 percent

Both Scorpio Bulkers and Star Bulk tumbled on the stock exchange on Wednesday and are now sitting bellow one USD. Deutsche Bank has downgraded the carriers in the face of potential downturn and a decline in vessel values.

by LENA RUTKOWSKI

Several of the major bulk carriers declined on the stock exchange on Wednesday 18 November. Star Bulk fell by 21.3 percent to USD 0.96, Scorpio Bulkers fell by 24 percent to USD 0.87, while Diana Shipping fell by 5.3 percent to USD 4.9.

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