The rates were almost at a standstill in the Aframax segment last week, the other two vessel classes had a somewhat weaker development. Q4 has started, and although we have not seen any effects on earnings so far, they are expected to come. The focus today is on the Mediterranean and more specifically Libya, where one sees positive signals that are expected to push Aframax rates upwards.
Aframax – 12 month TC: $19,000 pr. day
Aframax – Average spot market rate: $6,922 pr. day
There was once again a significant rate increase in the Capesize segment last week, with rates rising over 34%. This is due to a lack of tonnage in Brazil, which raised rates well. Panamax had almost the same week as the week before with a few changes. Experience shows that the larger ships often get the large rate effects first, then it spreads to the somewhat smaller segments over time. The dry cargo segment is gaining momentum at the moment.
Capesize 12 month TC: $20,625
Kamsarmax 12 month TC: $12,950
A vessel of interest was sold last week. A VLCC (305,484 dwt, built 2011, MHI (Nagasaki)) was sold for $45m. The price was $1m lower than on a similar ship that Eurotankers bought this summer.
Three vessels of interest were sold last week. A Kamsarmax (81,893 dwt, built in 2015, Tsuneishi Zosen) for $21.25m. Two ships from Scorpion Bulkers were sold. A Kamsarmax (81,600 dwt, built in 2016, Hudong Zhongua) and a Kamsarmax (82,057 dwt, built in 2016, Jiangsu New YZJ), these were sold for $18.5m and $18m, respectively, with Ship surveys in January 2021.