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).
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