EMF Weekly 14
Tankers weekly (14)
Earnings in Aframax weakened marginally last week. One saw a marked rise in rates between the Baltic Sea and the UK, beyond which there were relatively weak earnings. As mentioned in the previous newsletter, we are in the refiners’ maintenance period. The start of Q2 has historically been the weakest period in the tanker market. The positive thing that happened last week is that guiding one-year contracts took a new bundle and is now at $ 20,500. The Aframax also earned significantly better than its larger sisters, who cut just over $ 8,000 over the same period.
1 yr TC – $20.500
Avarage spot: $12.596
Drybulk weekly (14)
The earnings of the Capesiz market are strengthening somewhat last week, but from the low levels that have been strengthened, one is well away from being able to cover operational costs. The Panamax market saw weaker trades in the Pacific, however, stronger numbers in the Atlantic made up for the negative figures and one ends up at the status quo from the week before.
Capesixe 1 yr TC : $13.125
Panamax 1 yr TC : $11.000
S&P weekly (14)
It has been a relatively quiet week in the secondary market for super thoughts. A few VLCCs have changed hands, in addition to this most of the things have happened in the MR market. One VLCC (309,985 dwt, built in 2007) went for $ 35m.
There has been an active secondary market in the dry cargo segment. Mostly there have been smaller ships that have changed hands. There has also been a Panamax (76,878 dwt, built in 2004) for $ 8.5m, a price that is consistent with previous transactions in the same segment.