Evercore's shipping analyst says this is not yet the time to invest in dry-bulk stocks as he cut earnings estimates for three New York-listed bulker owners despite recent spot rate jumps.
Jonathan Chappell says that September's rate spike that brought capesize spot charters to $16,000 per day does not represent the start of a recovery for the sector
With that bounce nearly over, he says the supply and demand balance has barely changed for the sector.
Diana,
