real-time news and commentary for investors
Friday, Sep 13
Dry bulkers slide, Deutsche says capesize rally may have peaked
- After rallying hard on the back of surging capesize rates, red-hot dry bulkers take a breather.
- Perhaps weighing on sentiment is Deutsche's Justin Yagerman, who says shipping rates may be at a "near-to-medium term peak [as] the recent Cape-led rate rally may only be temporary."
- Yagerman does expect the market to continue "to recover over the next several years."
- Diana Shipping (DSX -3.3%) catches a downgrade to Hold (price target is $12).
- ETF - SEA -0.4%
- GNK -3.8% EGLE -1.3% DRYS -1% SB -3.8% SBLK -3.6% BALT -1.5%