Analyst Omar Nokta says bulker owners' paper is down 65% on average this year given the “overwhelmingly negative” sentiment in the physical and futures markets right now.
Stocks are trading below even the trough net asset values seen at the bottom of the market in early 2013, the analyst says.
“This sets up for a significant rally in the stocks on the next occasion freight rates bounce, in our view,” Nokta said in a weekly note to investors.
Clarksons
