Leading bulker company bosses believe their market is headed for a continued upturn led by the capesize segment, which has had a strong start to the year.

“The fundamentals are extremely strong. And then you have inefficiencies, which right now are adding,” said Lars Christian Skarsgard, chief executive of Belships.

Skarsgard took part in a panel at the DNB Energy & Shipping Conference in Oslo, which shared the positive market outlook, with Panama Canal and Red Sea disruption and port inefficiencies helping drive rates up.