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As expected, rates have fallen further, as the market has felt the production cuts from OPEC, which has resulted in particularly little activity from the Hormuz Strait. In the short term, we will continue to expect volatility, as OPEC and the other oil-producing nations are in the process of rebalancing the oil market.

Aframax – 12 month TC: $32,750 pr. day
Aframax – Average spot market rate: $26,959 pr. day

Dry Bulk:

There is increasing activity from the mines in Australia that provides much-needed support for dry cargo rates. Rates are still below operating costs, but there is an improvement on the horizon for shipowners. The Panamax segment in particular is showing good signs, with support from increasing coal production from Indonesia and Australia as mentioned.

Capesize 12 month TC: $11,750
Kamsarmax 12 month TC: $9,625



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