Analysts led by Jan Andreas Naess believe the deal and an improving dry cargo market will see a $10m adjusted pre-tax loss in 2013 turn into a $24m gain this year and a $159m black number in 2015.
“Star Bulk offers attractive exposure to what we believe will be increasing spot rates,” Naess and colleagues Joakim Hannisdahl and Jonathan Staubo wrote in a report entitled Shooting for the stars.
The
