EMF Weekly 3
2 days ago
Tankers
There are few changes from last week, for the VLCCs the going is still tough. Suezmax and Aframax still look very healthy going forward. Suezmax and Aframax earnings are holding steady above $70,000/day, while VLCC earnings eased 6% week-on-week to $36,838/day. On the other hand, in the last week we have seen somewhat weaker rates and activity over the Atlantic, but at the same time we see an increase over the Mediterranean/Black Sea.
Aframax, 12 months TC
Aframax, Average spot
Tankers
Dry Bulk
The difficult start to the year has not come to an end, where you can clearly see that Chinese New Year affects all segments. We expect a steady decline, although the market historically tends to recover somewhat in the future. Capesize continues to fall, and on some routes within Capesize, earnings are now negative. Panamax and Handysize are also prominent, especially in the Atlantic. The activity is particularly low and baltic reports has very little to report. Generally little activity also in FFA.
Capesize, 12 months TC
Kamsramax, 12 months TC
Tankers
S&P
Tanker
We see in the LR2 sector that a South Korean built Ice class A1 LR2 tanker “SEAMAGIC” (116,905 dwt, built 2007, Hyundai HI, BWTS fitted) has been sold for around $46 million.
Dry Bulk
No news.
Tankers
Indicative TC (1 year)
| Type | Tons | Week 3 | Week 2 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 46.000 | $ 46.500 | -2 % |
| Suemax | 180t. | $ 47.000 | $ 47.000 | 0 % |
| Aframax | 120t. | $ 45.500 | $ 45.500 | 0 % |
| MR | 80t. | $ 31.250 | $ 31.250 | 0 % |
Indicative Values
| Type | Resale | 5y | 10y | 15y |
|---|---|---|---|---|
| VLCC | 125.00 | 100.00 | 76.00 | 60.00 |
| Suemax | 85.00 | 68.00 | 53.00 | 31.00 |
| Aframax | 75.00 | 62.50 | 50.00 | 38.50 |
| MR | 47.50 | 41.50 | 33.00 | 22.50 |
Dry Bulk
Indicative TC (1 year)
| Type | Tons | Week 3 | Week 2 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 17.500 | $ 17.000 | 1 % |
| Panamax | 76t. | $ 13.875 | $ 13.750 | 1 % |
| Supramax | 55t. | $ 13.750 | $ 13.125 | 2 % |
| Handysize | 30t. | $ 11.750 | $ 10.250 | 5 % |
Indicative Values
| Type | Resale | 5y | 10y | 15y |
|---|---|---|---|---|
| Capesize | 53.50 | 44.00 | 29.00 | 18.50 |
| Panamax | 36.50 | 30.00 | 22.50 | 14.75 |
| Supramax | 35.50 | 28.50 | 18.50 | 14.75 |
| Handysize | 28.50 | 24.50 | 16.50 | 10.50 |
