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The tanker market remains seasonally strong. The Aframax segment saw a solid week with average rates of $52,502 per day. The past few weeks confirm the strong sentiment in the market, and bode well now that we move into December. We see that the one and two year-term leases draw stronger, and the two aforementioned contracts on a respective $28,000 and $ 25,000 per day were passed last week. We also notice that skilled shipping analysts again, state that they expects ship values to rise by 40-50% over the next two years.

Aframax – 12 month TC: $25,250
Aframax – Average spot market rate: $52,602


We saw a dry cargo market that strengthened last week. The Capesize segment was up 24%, while the Panamax segment saw an increase of 5%. We can see that the tonnage list for December is starting to fill up, which in turn leads to less available tonnage and a tightening of the market. We have recently seen a rather sluggish dry cargo market, due to the fact that the seasonal rainy season has come earlier than usual.

Capesize 12 month TC: $18,500
Panamax 12 month TC: $11,000



A 1999 built VLCC (Daewoo) of 299,167 dwt went for the net sum of $18m. The ship traded at a premium over steel value. This is a strong transaction, and confirms expectations of significantly stronger earnings in the years to come. There was also a 2000 built Suezmax (Samsung) of 147,092 dwt for $16m. The transaction was in line with the market.


There was a ship of interest in the dry cargo market. A 2007 built Panamax (Sanoyas) at 75,632dwt
went for $ 11.5m. The transaction has been in line with similar transactions lately.