Aframax rates remain at stable levels compared to the previous week. Now that we are approaching the driving season, we will experience an improvement in the rates in the time to come. However in the weeks and months to come, we will also see an increase in ships going out of the market and into the dry dock to install scrubbers. This will reduce the supply in the market and, according to various analysts, the consequence of this will be that the rate levels will increase by 20-40% during the next couple of months. Another interesting aspect is that so far this year, Aframaxes has still sailed on higher average earnings compared to Suezmaxes and VLCCs.
Aframax – 1 yr TC : $21.625
Aframax – Avarage Spot : $14.686
Panamax rates increase by 6% from last week and have been very strong across the board. In the Pacific, the beginning of the week was strong, but calmed down slightly towards the end of the week. Capesize rates remain approximately at the same level as the week before, when we observed a marginal decline of 4%. The rates for Capesize have picked up considerably in recent weeks and we are looking ahead, increased transport of soybeans will be a positive sentiment for the dry cargo market, which is reflected in the spot and TC’s moving further north.
Capesize – 1 yr TC : $19.125
Panamax – 1 yr TC : $12.125
A 2007 built VLCC changed hands to the sum of $ 38.5 M USD.
Furthermore, we see that ship values are heading northwards across the board. Last week, indicative values for Aframax vessels rose by 5% only from the week before, indicating that the secondhand market is tightening.
No transactions of interest