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.
Aframax, 12 months TC
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.
Capesize, 12 months TC
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.
5000 CEU – 12 months TC
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 |
