The capesize bulker market continued its unbridled descent on Thursday as the demand for iron ore remained weak.

But two analysts struck optimistic tones, especially for owners of scrubber-fitted and eco bulkers.

The Baltic Exchange’s Capesize 5TC, which averages spot rates across five key routes, dropped 30% on Thursday to $3,931 per day, taking the figure below $4,000 for the first time in more than two years.