JP Morgan reined in earnings estimates for some bulker owners as capesize rates move lower. But the lack of new vessel orders sets up the sector for healthier years ahead.
Analyst Noah Parquette says the drop in bulker freight rates during the second quarter "tempered sentiment that was getting red hot in the first quarter."
Parquette notes that new vessel orders increased in the second quarter, but they remain modest relative to the size of the fleet.
