SB - Dry bulk shipping execs talk long-term upside amid current headwinds

Eagle Bulk Shipping ([[EGLE]] +4.3%) CEO Gary Vogel, Genco Shipping & Trading ([[GNK]] +3.8%) CEO John Wobensmith and Star Bulk Carriers ([[SBLK]] +2.8%) CEO Hamish Norton took part in a Marine Money panel discussion on the dry cargo market at the Marine Money Virtual Ship Finance Forum today. Execs noted that dry bulking market is still very fragmented and called it disappointing that shares are still trading below net asset values. A big opportunity is seen in buying new vessels, although it is seen as difficult to raise capital. Fleet renewals and adding vessels are a top priority as offensive plays. Seeing equity capital rise above net asset values and boosting markets caps to the midcap level are called key in attracting institutional investors. Curtailing on the supply side of the dry bulk market is seen as a way to improve share returns after a long period of battling through

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Dry bulk shipping execs talk long-term upside amid current headwinds