A number of major dry bulk carriers have lost value of no less than 70 percent on average this year, and as a result dry bulk stocks are cheaper than ever before, writes Morgan Stanley in a recently published market report.
The carriers concerned and used in the calculations include Diana Shipping, Safe Bulkers, Navios, Golden Ocean, Star Bulk Carriers and Genco. One thing they all have in common with many other dry bulk carriers is that they are victims of a market where the rates are often lower than the costs, and where the Baltic Dry index with 484 points has just hit the lowest level ever following a drop of 40 percent in the course of a year.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.