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A slightly quieter week for the largest ships. VLCCs have contributed to a slight decline globally. The VLCC ships remain at around $90,000 per day, while the more environmentally friendly ships in this class have a daily rate of $103,000 per day. Rates are expected to recover this week. For the Suezmaxes, the rates increased early in the week before settling down again towards the end. Compared to last week they are up 3%. For the Aframaxes, there was an extreme increase in the Mediterranean as shipowners pushed rates up by 65%. Overall in this segment it has been a positive week with average earnings passing $100,000 per day.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
Steady yet relatively slow week as there is speculation that the Chinese will limit steel production this year, which was combined with holidays in Japan this week as well as the start of the Ramadan. As a result, Capesize rates fell 2% to $16,650 per day. There was generally somewhat less activity. The FFA market fell too, which also affected the Panamax spot market. There were also few new cargoes in general across the segment. The Santos to North China route fell 5% alone. Shortened tonnage lists across the segment pulled the handysize market slightly up in the Atlantic. It was generally a quiet week; among other things the Supramaxes continued to sail with ballast exclusively from the continent to the Mediterranean in the hope of better rates.
Capesize, 12 months TC
Kamsarmax, 12 months TC
Source: Clarksons Research
Another strong week in car shipping. Today’s rate levels are mainly driven by port congestion, demand for longer journeys and an increase of electric vehicles being shipped over sea. South Korea’s HMM placed an additional order of 3 x 8,600 CEU LNG capable PCTC vessels from the Chinese shipyard GSI Nansha. These are reported to be delivered in 2026, just as it was the case for the new orders placed by COSCO at the same shipyard last week.
5000 CEU – 12 months TC
6500 CEU – 12 months TC
Source: Clarksons Research
| Type | Tons | Week 10 | Week 9 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 57000 | $ 57500 | -1 % |
| Suemax | 180t. | $ 51000 | $ 50000 | 2 % |
| Aframax | 120t. | $ 57500 | $ 52500 | 10 % |
| MR | 80t. | $ 33500 | $ 33500 | 0 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| VLCC | 125 | 100 | 76 | 60 |
| Suemax | 85 | 68 | 53 | 31 |
| Aframax | 75 | 62.50 | 50 | 38.50 |
| MR | 47.50 | 41.50 | 32 | 21 |
| Type | Tons | Week 10 | Week 9 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 18500 | $ 18600 | -1 % |
| Panamax | 76t. | $ 15375 | $ 15500 | -1 % |
| Supramax | 58t. | $ 15875 | $ 15900 | 0 % |
| Handysize | 30t. | $ 15125 | $ 15100 | 0 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| Capesize | 62 | 52.5 | 31.5 | 20.5 |
| Panamax | 38.80 | 31.5 | 23.80 | 15.3 |
| Supramax | 37 | 30.5 | 20.50 | 15.5 |
| Handysize | 30 | 26 | 18.50 | 12 |
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