It was a good week for the Aframax segment last week. Rates were up 166%. The tanker market generally picked up in Europe, although figures indicate the busiest week in a long time. Although these are figures which are not expect to persist and that there are still some challenging days of sailing this half year before it really eases up, this, combined with other developments, shows that things can go faster than many have expected in the tanker market.
Aframax – 12 month TC: $14,500 pr. day
Aframax – Average spot market rate: $17,650 pr. day
The strong Panamax market continued last week where rates were up as much as 30%. With average rates of $24,651 per day, these are the highest rates seen in 10 years. The market is really strong at the moment, where we see that those who are going to rent ships have to search for tonnage, and this despite the Chinese New Year. This bodes really well for dry cargo in the year 2021.
Capesize 12 month TC: $19,250
Kamsarmax 12 month TC: $17,375
One vessel (a 2003 built VLCC) of interest was sold last week for $23m.
Activity in the secondary market continues the trend of high activity. Three vessels were transacted, two Kamsarmax built in 2012 and 2011, were sold for $18m and $16.5m, and one Panamax built in 2011 was sold for $14m.