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It was a relatively stable and slow week in the large tank segments last week. What is interesting to see now is how extremely tight the tonnage charts are going forward in the spot market as a result of a number of ships that have been leased on longer contracts lately. We therefore expect volatility in the future. Don’t be surprised at all if we witness any stratospheric rate jumps ahead.

Aframax – 12 month TC: $34,000 pr. day
Aframax – Average spot market rate: $35,661 pr. day

Dry Bulk:

There is progress in the dry cargo segment. Capesize rates have for the first time this year risen above $8,000 a day as a result of the mining industry picking up in Australia. We have also noted increased activity in Brazil and Canada.

Capesize 12 month TC: $13,750
Kamsarmax 12 month TC: $10,925



There is still relatively little activity in the secondary market in both dry cargo and tanker segments due to the Covid-19 situation. Only one transaction was recorded in the tanker segment, where a Suezmax built in 2001 (160,044 dwt, Hyundai HI) was sold for $21m. In comparison, a virtually identical ship built in 2002 was sold for $18m in February.


A Kamsarmax (83,369 dwt, Sanoyas) built in 2010 was sold for $15.5m