Last year was just one chapter in market recovery story, Clinton Webb says.
Analysts at Axia Capital Markets have increased their dry cargo rates forecasts by an average of 20% for this year , following a strong performance in 2017 . Axia 's Webb increased next year earnings forecasts for panamax and supramax bulkers to $ 13,000 and $ 16,000 respectively, while capesize bulkers are set to hit $ 17,500 . "With the current orderbook-to-fleet ratio at 9.6% … we believe the dry bulk market has clear runway into this year ," said Webb . In addition, he forecast capesize daily earning of $ 23,000 for next year , alongside $ 16,000 and $ 15,500 for panamax and supramax.