MARKET NEWS

EMF Weekly 38

1 day ago

Tankers

For the VLCC’s this week, we’ve seen rates increase overall, due to less available tankers. Furthermore, we’ve recently seen Russia close off the diesel export which potentially will affect the supertankers due to even longer routes.
The Suezmax have had decreasing rates due to market conditions, especially between West Africa and the United Kingdom. However, we’ve also seen rates increasing between the Middle Eastern Gulf and China.
A few Aframax tankers have been relocating to the Mediterranean due to a higher demand of oil transportation, improving the rates in a couple of other regions.

$ 0 /day

Aframax, 12 months TC

$ 0 /day

Aframax, Average spot

Dry Bulk

A positive week for all segments which ended up 10% to USD 14.533 per day, which is the strongest levels seen so far this year ( 20% below last September).

Cape was strong in all basins, where spot earnings ended up 31% at USD 15.700 per day. In the pacific ocean Australian spot cargoes started up 13% before it saw a small dip because most cargoes got covered. Panamax started the same way as the Cape sector where we saw a number of fresh USG grain cargoes and USEC coal activity picking up. South America got a small push upwards as a result of a strong FFA market. A bit of a mixed week in the Pacific caused by holidays in Japan. Supramax ended at USD 15.600 per day, the highest levels seen since October last year. The Atlantic basin had a relatively calm week, whilst most open tonnage in the pacific where covered early on that resulted in a flat week.

$ 0 /day

Capesize, 12 months TC

$ 0 /day

Kamsarmax, 12 months TC

car carrier

Minor changes week-to-week, whereas the segment still remains tight in the vessel owners’ benefit. The orderbook is now on a total of 166 vessels, with the latest ship on order being delivered in June 2027. Deliveries of new ships hitting the water are expected to remain limited in the rest of this year (just 4% of orderbook is scheduled for delivery in 2H 2023). 29% of all ships on order are scheduled for delivery in 2024 (345,000 CEU) and 38% in 2025 (455,000 CEU), and fleet growth could pick up from <2% this year to 7% next year as a result.

$ 0 /day

5000 CEU – 12 months TC

$ 0 /day

6500 CEU – 12 months  TC

S&P

Tanker

Suezmax Donat 166 k dwt built 2007 sold for an excessive amount of 40 mil. dollars

Dry Bulk

No news

Tankers

Indicative TC (1 year)
Type Tons Week 38 Week 37 + /-
VLCC 300t. $ 54500 $ 54500 -1 %
Suemax 180t. $ 41500 $ 41500 0 %
Aframax 120t. $ 50500 $ 50500 0 %
MR 80t. $ 27500 $ 27500 0 %
Indicative Values
Type Resale 5y 10y 15y
VLCC 125 99 74 57.5
Suemax 89 72 58 41
Aframax 78.5 63.5 51 40
MR 50 41 31.5 22

Dry Bulk

Indicative TC (1 year)
Type Tons Week 38 Week 37 + /-
Capesize 180t. $ 16500 $ 16500 0 %
Panamax 76t. $ 10750 $ 10750 0 %
Supramax 58t. $ 10700 $ 11000 -2 %
Handysize 38t. $ 9750 $ 10000 -2 %
Indicative Values
Type Resale 5y 10y 15y
Capesize 61 47 29 20
Panamax 37 32 22 14.5
Supramax 35 28.5 19.5 13.25
Handysize 31.5 24.5 16.5 10

Subscribe to our weekly market report

European Maritime Finance A/S

Denmark

Kongens Nytorv 22,
1050 Copenhagen

+45 72 73 21 00
info@maritimefinance.dk

CVR 39635631

Switzerland

Rue du Lion d’Or 6,
1003 Lausanne

+41 21 508 70 93
info@maritimefinance.dk