Tough week for dry bulk, boxship stocks despite buoyant rates

For much of 2021, roaring physical freight markets in containerships and dry bulk have helped push US-listed shipping stocks to major gains.

But those buoyant markets were not enough to continue the trend last week, as boxship and bulker listings were among the biggest losers despite another strong week for rates.

On a week when capesize rates soared above $80,000 per day, New York dry bulk stocks dropped 8%.