China’s recent signals of loosening the collar of strict Covid-19 protections that have helped choke its economy are about to spell good news for the dry bulk sector — just not immediately.

Analysts at Deutsche Bank see dry bulk names remaining under pressure through year’s end and then the seasonally weak first quarter before the market starts to rebound in the second quarter of 2023.

The bank is using its projection to tout the shares of major Greek shipping company Star Bulk Carriers.