Still in the midst of a recovery
We repeat our view from January 2017 that “dry bulk is in the midst of a recoveryâ€, with low fleet growth and the China import substitution story playing out. Iron ore trade growth would slow on our forecast, while China coal imports would continue to increase as alternative energy cannot satisfy electricity demand.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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