- The Baltic Dry Index is near at a two-year high as fundamentals improve. Bloomberg notes that increased demand for iron ore is helping to lift the index.
- Capesize rates are up +300% since February 14, while supramax rates and panamax rates have also improved.
- Earlier this week, Morgan Stanley analysts gave a favorable assessment on the sector in upgrading a few names. "The dry bulk market has passed through its cyclical lows and is headed toward profitability," wrote Fotis Giannakoulis.
- Previously: Morgan Stanley upgrades trio of dry bulk shippers (March 28)
- Related stocks: SALT, SBLK, GOGL, SB, NM, DSX, GLBS, SHIP, SFL, DRYS, KEX, EGLE, NMM, SINO, OTCPK:CSPKF, OTCPK:CICOF,OTC:CITAF, OTC:CITAY, DSX, GNK, NMM, PANL.
- See important disclosures.