Further falls in rates are recorded, where earnings in Aframax are at their lowest level in about 1 year. The VLCC segment stays strong with rates above 2 times break even levels. In the future, there is a positive mood among the shipowners, as further sanctions can be expected against tankers that have traded in Venezuelan oil, which will provide much-needed support to the smaller segments as well.
Aframax – 12 month TC: $23,750 pr. day
Aframax – Average spot market rate: $11,118 pr. day
The BDI index can point to over 1,000 points, the first time crossed since Christmas Eve 2019. The solid increase in coal and iron ore production and export in both Australia, Indonesia and Brazil allows Capesize rates to cross over $10,000 a day for the first time.
Capesize 12 month TC: $14,750
Kamsarmax 12 month TC: $11,050
The secondary market has started to move after a few quiet weeks, but no transactions of interest to report.
No transactions of interest.