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Rates continue to rise in the tanker market. The Aframax and Suezmax somewhat declined, but VLCC rises about 50%. This seen in light of OPEC+ the agreement to open up production from January, which will have a positive impact on the overall sentiment in the market. COVID vaccinations have already started in December, which good news for the global economy and tanker market, which will have an effect on ship values and earnings.

Aframax – 12 month TC: $16,375 pr. day
Aframax – Average spot market rate: $8,828 pr. day

Dry Bulk:

The dry cargo market remained relatively calm last week, as we saw a slight increase in the Capesize segment. In addition to this, the market is in line with what has been mentioned in previous publications, and we expect a pending market up to and including Q1, before we will see a significant improvement in rates.

Capesize 12 month TC: $16,000
Kamsarmax 12 month TC: $12,150



There were two vessels of interest. The first, VLCC (309,064 dwt, built in 2002, Samsung HI to $25m, in line with previous transactions. The second VLCC (309,498 dwt, built in 2000, Hyundai HI (Ulsan)) was sold for $19.25m.

Dry Bulk:

Two vessels of interest were sold last week. A Kamsarmax (80,982 dwt, built in 2017, JMU Maizuru Shipyard) was sold for $24m. The other Kamsarmax (81,755 dwt, built in 2012, Guangzou Longxue) was sold for about $12m.