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The market continues to increase for both the Suez and Aframax ships last week. The VLCCs began to relieve pressure on the Suezmaxes on some of the trades, but that was not enough to see a solid recovery in the latter segment. Aframax experienced an active market in the Black Sea, backed by bad weather, a trend that is expected to continue and can create fertile ground for higher rates in the short term.

Aframax – 12 month TC: $15,250 pr. day
Aframax – Average spot market rate: $6,541 pr. day

Dry Bulk:

The rates in the Capesize segment received a correction last week. This is a result of a longer list of available tonnage in combination with the fact that Asian demand for coal from the Atlantic Ocean is declining. The Chinese New Year is fast approaching and, a weaker market in the period ahead is expected.

Capesize 12 month TC: $18,375
Kamsarmax 12 month TC: $15,000



Two transactions of the “very modern Suezmax” were completed last week. Such transactions are relatively rare. The vessels will be delivered in Jan 2022, with the price in excess of $57m each and the tank giant, Euronav, as the buyer. The trade joins the ranks of several interesting transactions in 2021.

Dry Bulk:

Four transactions of interest were registered last week. The transactions were as follows, a Kamsarmax (84,416 dwt, built 210, Sanoyas) was sold for $15.25m, secondly, a Kamsarmax (82,338 dwt, built 2008, Oshima Shipbuilding) was sold for $13.7m. A third Kamsarmax (82,338 dwt, built 2009, Oshima Shipbuilding) was sold for approx. $14m and the finally, a Kamsarmax (78,092 dwt, built in 2012, Toyoshashi SB) was sold for $16.25m. All ships have undergone a ship survey and have installed BWTS.