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The rates continue to decline in the major tank segments, but seem to have ”hit rock bottom” as the situation is now. It is important to note that prices are still good, although they have fallen from unusually high levels. Among the registered hourly charter contracts, a 2-year contract has been signed in Aframax for a total of $29,000 per day, including a 6-month TC of $50,000 per day, which is why we expect a strong spot market in the coming months.

The Contango curve has tightened in the recent months, but the demand for liquid stock is still substantial, so high for refined products that several settlers are entering liquid stock in their first trade. According to our estimates, we see a further 16m barrels of oil for May and June in demand for floating stock, which will be advantageous for the spot market as demand for shipping is still solid.

Aframax – 12 month TC: $38,750 pr. day
Aframax – Average spot market rate: $36,954 pr. day

Dry Bulk:

There have been holidays in several regions globally that have put the rates under some pressure. However, the tonnage lists are relatively long, while several Ultramax ships have entered the Panamax market and extended the list further. At the same time, more countries globally are beginning to ease COVID-19 restrictions, which will support upward dry cargo rates.

Capesize 12 month TC: $10,375
Kamsarmax 12 month TC: $9,750



No transactions of interest to report.


No transactions of interest to report.