Executive Summary
The challenges that the dry bulk market is currently facing led the charter rates to plummet. It goes without saying that the dry bulk stocks followed the free fall in charter rates. As of today, Star Bulk Carriers Corp (SBLK) is massively undervalued. The stock is trading at c. 50% discount to NAV.
It is obvious that all negative headlines (China-US trade war, Vale’s iron ore accident, cyclone Veronica in Australia, China’s coal import restrictions) have already priced in SBLK’s stock. Now, the million-dollar question is what future events are not