ShippingWatch

Dry bulk shares down 70 percent this year

The stock value of the major dry bulk companies is less than ever before and a turn in the market is not expected until 2018, according to Morgan Stanley, which spots signs that a large part of the market is at risk of simply disappearing.

Photo: Star Bulk

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Bimco sets up Brussels office

The shipping organization faces the consequence of the EU having in a short time span manifested itself as the trendsetting international legislator within climate, and establishes an office in Brussels, ShippingWatch learns.

Further reading

Related articles

Latest news

See all jobs