Norwegian investment bank Fearnley Securities believes booming boxship earnings are set to rise further in the second quarter.
Analysts Espen Landmark Fjermestad, Peder Nicolai Jarlsby and Ulrik Mannhart said they are kicking against the prevailing view that the first three months will be as good as it gets for shipowners and operators.
"It's worth nothing that most analysts assume first quarter to be peak for earnings, while we expect to see further improvements in the second quarter on the back of higher spot rates and [the] full effect from contract renewals," they added.
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