Rates and sentiment in dry bulk shipping have fallen hard. Economic pressures in China appear to be a major culprit.
Capesize bulkers haven’t earned this much since 2009, and freight futures just made “monstrous” move up.
Despite epic container rates and hefty dry bulk profits, stocks fell by double digits over the past three weeks.
Rates for smaller bulkers remain at decade highs with most dry bulk stocks up triple digits since November.
COVID has been great for stocks. In ocean shipping, container and dry bulk shares rode the wave. Tankers stocks sank.
Dry bulk shipping rates are now double to triple five-year averages. Stock prices of dry bulk owners are on the ascent.
The bosses of public dry bulk shipping companies claim that recent market oddities point to good times ahead.
This has been the best January for dry bulk shipping rates in a decade. Is this the long-awaited turning point or yet another head fake?
Another key bellwether — the cost of dry bulk freight — is pointing to an economic recovery.
Nordic American Tankers is the best stock performer among larger listed ship owners. Scorpio Bulkers is the worst.
