Analyst Omar Nokta notes a five-year-old capesize is now priced at $31m, against a 2014 peak of $53m.
In a report, Nokta argued with one-year capesize rates now at $13,000 per day owners have reached a position of economic breakeven assuming 50% debt on a ship.
“Several capes have been fixed recently at or above the $13,000 per day level, which we see as providing an opportunity for shipowners with liquidity to acquire assets on the cheap and face a scenario of economic breakeven ahead of a more sustained recovery (we project occurring in 2017)," Nokta said.
“As
