Stock markets are undervaluing bulker owners such as John Fredriksen’s Golden Ocean in stable markets, Clarksons Securities believes.
Analysts led by Frode Morkedal said: “In our view, the valuation of Golden Ocean and other dry bulk stocks is overly cautious.”
They admitted that concerns about China’s economic growth are understandable, but argued that understanding the vessel supply side instead is crucial to analysing the dry bulk sector.
