It has once again been a difficult week for the large tonnage shipping industry. In the previous week, VLCC rates averaged approx. $3.900 per day, while things have looked slightly better among Aframax (+9) and Suezmax (+47). Some of the measures we currently are experiencing to reduce costs include low streaming that comes as a result of high fuel prices. The rest of August is expected to remain relatively quiet.
Aframax – 12 month TC: $15,500 pr. day
Aframax – Average spot market rate: $8,254 pr. day
Rates among the larger segments strengthen marginally. Looking forward, tonnage lists are expected to tighten further, while the East reports limited supply as a result of the accumulation of vessels in the ports.
Capesize 12 month TC: $32,000
Kamsarmax 12 month TC: $28,750
No transactions of interest.
A Panamax (76,565 dwt, built 2008, Imabari SB Marugame) was sold for approx. $19m. Last month a similar vessel wen to $17.5 m