Scorpio Bulkers, Norden, Diana Shipping, Navios Maritime Holdings and Pacific Basin have all been initiated by Drewry analysts in reports issued today.

It comes amid predictions of a gradual recovery in bulk shipping rates which are expected to remain “fragile” in the near term.

Drewry says bulker owners saw massive value erosion in 2014 with many companies losing more than half of their market value last year as an expected freight market recovery failed to arrive.