Despite the reduced expectations likely increasing the losses facingleading owners in the sector, the bank does offer some hope suggesting theoutlook for the market is favourable for the first time in half a decade.
Doug Mavrinac, an analyst at Jefferies, has cut his 2013 capesize rateforecast by one third to $12,000 daily.
In a report issued today his panamax and supramax bets have also been hauleddown from $14,000 to $8,000 daily.
