Stifel

New York based investment bank analyst Ben Nolan warns about latest dry bulk market rise. New York based investment bank analyst Ben Nolan said dry bulk market was struck between bull and bear. He mentioned about “modest recovery” in spot dry bulk rates. According to him, dry bulk market has improved sooner than expected. Dry bulk carriers secondhand asset values approaching newbuilding prices, shipowners will inevitably begin ordering new vessels. New York based investment bank analyst Ben Nolan foreseeing dry bulk capesize rates of $16,000 per day in 2017, $20,000 per day in 2018 and $22,000 per day in 2019.