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
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.
No transactions of interest.