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The rates in the tanker market continue the solid trend. The average rate in Aframax had a marginal increase of 5%, with last week’s average of $ 55,098. We are in the tank market’s peak season, which results in strong earnings across all the large tank segments. What is most interesting, however, is a 30 month lease signed on an Aframax at a rate equivalent to $ 26,500 per day. We expect this to have an impact on the ship values.

Aframax – 12 month TC: $27,500
Aframax – Average spot market rate: $55,098


With only a few weeks left of 2019, we can safely emphasize that the dry cargo market has been through a decent roller coaster ride this year. The improvement we have seen since Q3 has nevertheless led to a slightly more positive attitude towards better rates in 2020. The rates compared to last week are about the same levels, with a slight increase of 8% in the Panamax segment. The good news going into 2020, is China’s insatiable iron ore appetite, which has been at high levels in the second half of this year, and also shows no signs of slowing down.

Capesize 12 month TC: $17,625
Panamax 12 month TC: $11,375



With the increase in leases, the prices of the ships also rise. This certifies the transaction on the 1999 built VLCC at 311,168 dwt (Hyundai), which was sold for $20m. This is a $2m increase in just one week.


No transactions of interest.