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As expected, rates have fallen further as the market has become aware of the production cuts from OPEC, which has resulted in particularly little activity from the Hormuz Strait. In the short term, we will still 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:

Increasing activity from the mines in Australia is providing much-needed support to the dry cargo rates. The rates are still below operating costs, but there is an improvement in the horizon for the 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



No transactions of interest to report.


No transactions of interest to report.