Platou dimmed its rating on dry bulk from positive to neutral noting the second quarter had seen supply growth exceed demand improvements for the first time in over a year.
In its latest quarterly report the finance house also downgraded some of the largest names in the sector, including capesize giant Knightsbridge and Danish owner Norden.
Coal burning market
Platou Markets says it has lowered its previous rate guidance significantly due to lower demand growth, mainly due to reduced Chinese coal shipments.
