Stifel remains sober in its dry cargo recovery expectations, suggesting shipowners are more likely to steal bases than smash financial home runs.
In a baseball-inspired update analyst Ben Nolan argues the dry cargo market lacks the demand swing required for rates to clear the fence.
“With the dry bulk market now back to some semblance of delicate balance, but in our view lacking the capacity for a major demand driven rally, we believe investment opportunities are likely to be smaller and transient,” Nolan wrote.
