Star Bulk Carriers and Genco Shipping & Trading are both poised for better days as iron ore trades for China and Brazil continue to recover beyond expectations, analysts say.
Capesize spot rates have more than tripled to $14,000 per day since April despite Vale downtime and China's lowering of steel inventory, according to Deutsche Bank.
"Rates have rallied significantly over the last two months, quicker than expected in the face of continued headwinds," analyst Amit Mehrotra wrote in a client's note.
