Freight prices in the tanker market have had a minor impact on current prices. Several experts have upgraded their assessments of the tanker market from a sell and hold strategy to a hold and buy strategy. Increased oil production and more purchases at refineries are seen as a sign that the world economy is recovering in the wake of the increasing prevalence of vaccinations. Therefore, it is only a matter of time before prices are above B/E.
Aframax – 12 month TC: $16,000 pr. day
Aframax – Average spot market rate: $10,328 pr. day
The dry bulk market remains similar to the levels last week. The indicative leases are rising steadily, which continues to cause optimism in the market.
Capesize 12 month TC: $29,750
Kamsarmax 12 month TC: $24,875
John Frederiksen and Frontline have made several transactions to position themselves in relation to the possible super cycle. The company has made agreements for six VLCC for a total price of $565.8, ie. $94.3m. per vessel.
No transactions of interest.