Equities analysts for once are predicting a prolonged upturn for capesize bulk carriers, thanks to depressed asset values and historically low orderbook levels.
Cleaves Securities anticipates “one of the longest expansionary dry bulk cycles” in its records, which go back to the 1740s, according to a research note on Thursday.
"I believe the cycle will contract in 2022 at the earliest, but potentially not until 2023/24," Joakim Hannisdahl, Cleaves’ head of research, explained to TradeWinds today.
