The rates in the tanker market fell broadly last week, with earnings in the Aframax segment being the ones that remained most stable. We have now entered the “driving season”, so we expect earnings to start to rise considerably. We have now moved out of Q2, which is expected to be the weakest part of the year. We have high expectations for Q3, where earnings will be well helped by increased activity in the refineries, as well as ships that disappear out of the market into scrubber fitting. A strong second half is well reflected in the strong 12-month lease contracts and ship values we see.
Aframax – 1 yr TC : $21.625
Aframax – Average spot : $13.309
The dry bulk market continues the strong trend. Capesize saw a strengthening of the rates of 49%, which reflects that the rough sea that one met at the beginning of the year is a covered chapter. Panamax earnings are up 11%, well helped by strong demand in the Atlantic. It is a very good sentiment in the dry cargo market at the moment.
Capesize – 1 yr TC : $20.625
Panamax – 1 yr TC : $13.000
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