Pareto Securities has initiated coverage of Songa Bulk with a buy rating and upgraded two other major bulker owners as the dry cargo market heads for its strongest second half in half a decade.
Analysts Eirik Haavaldsen and Fredrik Stene have also dialed up their capesize rate estimates with the market taking positive momentum into 2018.
Arne Blystad-backed Songa has splashed out $260m to build its fleet over the past 10 months, and has the firepower for more additions.
