Tangible impacts from the tragic collapse of a Vale dam in Brazil have led Cleaves Securities to slice its capesize rate forecasts.
Analyst Joakim Hannisdahl is now projecting negative demand growth for capesize bulkers this year and expects a short-term slump in asset values.
Hannisdahl, who has a punchier view of smaller bulk carrier trades, however, notes much of the negativity around the sector is already priced into stocks.
