Aframax rates are experiencing a minor decline in spot rates from the previous week. This is mainly due to the fact that charters have gained more control in the Black Sea as a result of minor delays in the Bosphorus Strait through Turkey. The strongest rates are found in the area around the Caribbean and the US Gulf. Furthermore, we see an increase in 12 month Time Charter contracts. This may be the start of an upward trend.
Aframax – 12 month TC: $15,000 pr. day
Aframax – Average spot market rate: $17,239 pr. day
Capesize rates rise sharply, by 60% w-o-w. However, rates of around $12,000 a day are still lower than the smaller classes. In the panamax segment, we see an interest rate level of around $21,000 a day and about $16,000 a day in Supramax. Going forward, the dry cargo market is expected to profit from the upcoming super cycle in the commodity trade, so exciting times lay ahead.
Capesize 12 month TC: $20,500
Kamsarmax 12 month TC: $18,625
No transactions of interest.
Lord Byron (76,838 dwt, 2005, Japan) was sold for just over $12m.