Line of dry owners cut by Clarksons Platou

Clarksons Platou Securities today downgraded shares in a series of public bulker owners as they battle the worst market since the 1980s.

Projections of a restructuring at Golden Ocean led to a lower rating for the John Fredriksen backed owner, with Diana Shipping, Scorpio Bulkers and Navios Maritime Holdings also handed new neutral ratings.

It comes on a day when dry cargo rates again plumbed all-time lows, with Clarksons Platou analysts noting spot rates are now suffering their longest spell below operating costs since 1998 and 1999.

Frode