MARKET NEWS

EMF Weekly 22

2 days ago

Tankers

Rates softened for VLCCs, while off-market fixing provided owners with an advantage. In the Atlantic, Suezmax rates fell due to a lack of enquiry, leading to an imbalance between tonnage lists and cargo volumes. However, in the Mediterranean, owners capitalized on early Aframax opportunities to minimize wait times. As Aframax rates ease, there is a possibility of Suezmax rates in the Mediterranean following suit. Meanwhile, on the UK-continent, Aframax rates dropped, prompting some vessels to ballast away from the region. Despite limited enquiry, Mediterranean Suezmax-rates remained stable thanks to a balanced tonnage list.

$ /day
$ 0 /day

Aframax, 12 months TC

$ 0 /day

Aframax, Average spot

Tankers
Aframax, 12 months TC
Aframax, Average spot

Dry Bulk

Another challenging week in the bulk sector with average rates falling 15% to USD 9.100 per day, the lowest rates since mid february. Capesize fell 31% to USD 9.400 per day, and owners heading for Brazil loading are holding back waiting for better rates. On the panamax side, rates softened in both basins and tonnage lists got even longer. Transpacific routes fell 5% to USD 8.000 per day. The handy sentiment had a slow week in the USG with a lack of demand dragging on rates. We need to see lots of fresh cargoes to stabilise the market.

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$ 0 /day

Capesize, 12 months TC

$ 0 /day

Kamsramax, 12 months TC

Tankers
Capesize, 12 months TC
Kamsarmax, 12 months TC

car carrier

Another steady week within the segment, with few updates week-to-week. There are now a total of 149 PCTC ships on order, at various shipyards. Chinese shipyards account for the lion’s share in the construction of this type of tonnage with 127 ships (85%). Japanese yards with a total of 18 ships (12%), and the South Korean yard Hyundai Samho Heavy Industries Co. with only 4 ships (3%). The capacity of the ships also varies, where the ships on order can take anything from 3000 – 9300 CEU (Car Equivalent Units). The main share of the tonnage is ordered with a capacity of 6,500 CEU+.

S&P

Tanker

No news.

Dry Bulk

No news.

Tankers

Indicative TC (1 year)
Type Tons Week 10 Week 9 + /-
VLCC 300t. $ 43750 $ 43750 0 %
Suemax 180t. $ 45500 $ 45500 0 %
Aframax 120t. $ 49750 $ 46250 8 %
MR 80t. $ 29250 $ 29250 0 %
Indicative Values
Type Resale 5y 10y 15y
VLCC 125 100 76 60
Suemax 87 72 57 33
Aframax 78.50 63.50 52 38.50
MR 50 42 34 24

Dry Bulk

Indicative TC (1 year)
Type Tons Week 10 Week 9 + /-
Capesize 180t. $ 15250 $ 15750 -2 %
Panamax 76t. $ 12060 $ 12050 -0 %
Supramax 58t. $ 12250 $ 12900 -2 %
Handysize 30t. $ 11250 $ 12750 -2 %
Indicative Values
Type Resale 5y 10y 15y
Capesize 64 52 32 20
Panamax 39 33 24 16
Supramax 37.5 31 20.5 15
Handysize 31.5 26 18.50 12

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