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It was a comparable role week in the tanker market last week, which made the spot market for the Aframax segment fall back well. The next few weeks, however, look promising for the rates. Expected extra exports from the Middle East in January will result in higher demand for tankers. We are still in the period of “destocking” of oil stocks, which is a damper on rates. However, recent positive vaccine news and vaccination initiation will accelerate this problem.

Aframax – 12 month TC: $16,375 pr. day
Aframax – Average spot market rate: $5,271 pr. day

Dry Bulk:

The dry cargo market had a varying picture last week. The Capesize segment fell slightly, while the Panamax segment rose slightly. We note that the spot earnings of a Panamax were higher than Capesize last week. The Panamax segment was supported by transatlantic travel, as well as coal exports from Indonesia and Australia.

Capesize 12 month TC: $16,625
Kamsarmax 12 month TC: $12,450



No transactions of interest.

Dry Bulk:

Two ships of interest were sold last week. A Kamsarmax (81,183 dwt, built in 2016, Hudong Zhonghua) for $20m, and a Kamsarmax (83,416 dwt, built in 2010, Sanoyas) sold for about $14.5m. The latter is a strong transaction compared to similar transactions earlier this autumn.