Bulker prices will keep climbing despite a 25% rise in 2017, Credit-Suisse says.
This year’s improvement means that bulker asset values have risen by around 40% since the Baltic Dry Index set record lows in the first quarter of 2016.
"With ship prices still below mid-cycle levels (~25%) and recent conversations with shipowners pointing to a scarcity of modern tonnage for sale we expect asset prices to push higher for both modern and middle-age tonnage in the near term,” said analyst Greg Lewis.
