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The good trend Aframax rates have shown over the last two weeks continues. Average earnings are up another 15%. However, we expect further volatility, as it may appear that rates have peaked in the short term. Regardless, this trend is good news for an otherwise slow start to 2021.

Aframax – 12 month TC: $14,500 pr. day
Aframax – Average spot market rate: $20,234 pr. day

Dry Bulk:

After last week’s historically strong week in Panamax, rates have fallen somewhat, mainly as a result of an entry into Capesize tonnage that is struggling with weakened rates. We expect persistently strong rates going forward, although some tenants have taken a slightly more laid-back attitude.

Capesize 12 month TC: $19,500
Kamsarmax 12 month TC: $17,375



An Aframax (106,074 dwt, built in 2003, Hyundai HI (Ulsan) was transacted in the upper tier of $10m. This must be described as a strong transaction.

Dry Bulk:

No transactions of interest.