Omar Nokta had taken a break from shipping research since March and investment bank Jefferies since 10 June, but they have returned together and with quite a bang.

Nokta has unleashed a 181-page report on the current state of shipping markets as he formally begins a new chapter as Jeffferies’ lead shipping analyst, initiating coverage on 24 US-listed owners.

Some quick takeaways :

Tankers rule

Jefferies likes the investment case for tankers the most, container ships least.

Size matters, but not the way you might think.