There has been good activity in the VLCC market this week, where the rates have increased significantly as a result of high demand from China where large parts of the tonnage have been tied up. In the Aframax segment, earnings fall slightly, with sluggish activity over most routes. We expect further volatility in the next few weeks in June. It should be mentioned that strong short-term contracts are nevertheless signed.
Aframax – 12 month TC: $23,750 pr. day
Aframax – Average spot market rate: $22,300 pr. day
The Capesize segment is still struggling with low rates, but it is gratifying to see that Panamax has recovered steadily on higher earnings over the past period. The activity is getting bigger every week now that restrictions are being globally eased.
Capesize 12 month TC: $11,750
Kamsarmax 12 month TC: $9,925
It has been a fairly quiet week in the secondary market. There has nevertheless been a transaction of interest. A 1999 built Aframax (105,002 dwt, Halla Eng.) Was sold for $10m. In April, a virtually identical ship built in 2000 was sold for the same price.
No transactions of interest to report.