Just how dire is the outlook for dry bulk?

Consider that Goldman Sachs analyst Justine Fisher led off a morning panel at the Connecticut Maritime Association’s annual shipping conference in which she sketched out a “very weak” rates market in 2016-17 leading to a 2018 “balance” that could see rates climb to — yes, climb to — all of $10,000 or $11,000 per day across vessel classes.

And