Look at this chart in the BDIY, an index left for dead. Cape size rates have been improving and thus starting to transform the balance sheets of a handful of the core players.
Rising natural gas prices are boosting demand for coal and while coal prices are kept low by oversupply you are seeing increased rates for bulk carriers, who obviously also suffered in last few years for over supply after overly ebullient expectations pre-crisis.
Population and diet trends bode well also for bulk shippers. Balance sheet improvement and free cash yields will still be the near term drivers for the core players in this space: Maersk, Teekay (TK, quote), Ship Finance (SHIP, quote), DryShips (DRYS, quote), etc.
