Seaport Global Securities increased its outlook for charter rates in dry-bulk shipping, as the industry remains on path to recovery.
Analyst Magnus Fyhr sees "an improving outlook for the dry bulk market with supply and demand growth getting more closely aligned." He increased earnings estimates on publicly traded dry bulk companies thanks to the higher rate deck.
Fyhr expects capesize bulker rates to average $10,000 per day this year, and to increase to $13,000 per day in 2018.
