Rates continue to rise in the Aframax segment, with a further increase of about 30% last week. Figures from the USA are helping to uplift the market considerably, a market that is important for “ton mile demand”. Oil price is moving upwards, and this is due to expectations of a higher oil demand which will be positive for the tanker market.
Aframax – 12 month TC: $16,375 pr. day
Aframax – Average spot market rate: $9,183 pr. day
The dry cargo market had a slight upswing last week. The Capesize segment was relatively stable, while the Panamax segment rose by 10%. The latter received positive news in the Atlantic where there were a number of trades in minerals, at the same time there is potential of increased coal imports by the Chinese in the Pacific, which will hopefully have an effect in the coming weeks.
Capesize 12 month TC: $15,000
Kamsarmax 12 month TC: $11,375
No transactions of interest.
Five vessels of of interest were sold last week. Kamsarmax (81,252 dwt, built 2017, Hudong Zhonghua), Kamsarmax (81,227 dwt, built 2017, Hudong Zhonghua), Kamsarmax (81,232 dwt, built 2017, Hudong Zhonghua), Kamsarmax (81,237 dwt, built 2017, Hudong Zhonghua) and the latest ship is also a Kamsarmax (81,600 dwt, built 2016, Hudong Zhonghua). These were sold in a block deal, where four ships were sold for $101.5m. The last ship was sold for an unreported sum.