Dry stocks steam past tankers in key market measure as investors look forward

Last week’s rally by bulker stocks on a solid week of rates improvement has catapulted the otherwise ailing sector beyond their tanker brethren in a key valuation metric.

The week’s gains left bulker stocks as a group trading at 84% of their net asset value, pushing them past tankers at 78% of NAV, according to statistics from US investment bank Jefferies.