VLCC rates have remained stable due to the relatively tight tonnage list as several tankers have gone on floating stock contracts. The activity has been relatively high, with reference to China’s record-high import of oil that has employed the VLCC vessels. Aframax earnings have come under further pressure as demand continues to be weak globally.
Aframax – 12 month TC: $23,750 pr. day
Aframax – Average spot market rate: $13,469 pr. day
The dry cargo market continues a very promising trend, with the Baltic Dry Index rising for the eighth consecutive day. Especially Capesize rates have had a comeback, this of course due to global easing of restrictions. Fixed leases have risen, confirming a long-awaited longer momentum in the market.
Capesize 12 month TC: $13,500
Kamsarmax 12 month TC: $10,050
No transactions of interest to report.
Lots of activity, but no transactions of interest.