Dry-bulk shares hurtled downward in New York Wednesday as the already challenging outlook for the sector looked even bleaker.
Shares in Scorpio Bulkers and Star Bulk Carriers fell by more than 20% at points during the day while Safe Bulkers and Genco Shipping & Trading also lost by double digit percentage points.
The plunge came as the Baltic Dry Index (BDI) approached a record low and after Deutsche Bank issued downgrades of three companies in the sector.
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