CopenhagenCopenhagenLausanne Mon - Fri 08:30-16:30 +45 72 73 21 00 Mon - Fri 08:30-16:30 +41 21 508 7093


Aframax earnings fell slightly back last week. Suezmax was the only class that had a increase in earnings during the week. Aframaxen is still the ship with best earings of the three major tanker classe so far this year. American oil production is strong and bottlenecks prevent increased exports. Increase in US oil exports is expected to rise in Q3 and Q4. Production exceeds exports and oil inventories continue to rise. This is the main reason why oil prices fell last week.

Aframax – 1 yr TC – $21.625 per day

Aframax – 1 yr TC – $14.956 per day


Capesize earnings strengthened significantly during the week, spot rates strengthened 25%. This was well helped by trades in both the Atlantic and Pacific who are well on their way back. Panamax continued the good trend with another week of good earnings. Despite an outbreak of swine flu in China, we expect a strong summer when grain and soybeans find their way from Brazil to China. We already see that Brazil is trading from American farmers to meet the demand from the East.

Capesize – 1 yr TC – $15.750 per day

Panamax 1 yr TC – $11.650 per day



No transactions of intrest


It has been a quiet week in drybulk. Of the ships that were traded, only one of the interests, Panamax (77,598 dwt, built in 2004) went to $ 7.1m.