Dry bulk bear Evercore ISI is warming to the bulker sector with the mixed signals from the market this year taken as an encouraging sign.
Analyst Jon Chappell admits to being “unabashedly negative” on bulk for the past three years and pouring cold water on the positive sentiment seen during the spring.
Now, with steel values plateauing as rates pulled back, he is taking a more favourable stance on “the setup for dry bulk stocks”.
