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A mixed week for the oil tankers, where the average earning for the VLCC landed on $35,873 per day, which is a 28% decline from the previous week. This is mainly due to the introduction of the new OPEC cuts. However, spot earnings for scrubber-fitted Aframax went up 21% to $57,488 per day due to a stronger trend from the Caribbean to the US Gulf. Scrubber-fitted Suezmax experienced a steady 7% increase in the daily average, from $48,884 the previous week, to $52,063 this week.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
Relatively steady week across all segments. Capesize ended at $18,000/day while Kamsarmax fell 8% to $13,350/day due to low activity. We saw lots of activity around the northern coast of South America while there was very little activity on the south coast. Several shipowners offered discounts for favourable dates. For the lesser ship sizes we saw an increased volume of petcoke out of the gulf which in theory was the driver that kept the market stable. In sum, the shipowners were quite hesitant, hoping for a better week next week.
Capesize, 12 months TC
Kamsarmax, 12 months TC
Source: Clarksons Research
The car carrier segment saw only small changes in the weekly trading, largely due to the more “slow” nature of this segment in comparison with the oil tanker and dry bulk segments. As earlier mentioned, today there is no such thing as a spot market within this segment – preference is to lease out tonnage on longer and stronger time charter contracts. Upcoming environmental restrictions are likely to have a number of impacts on the car carrier sector. According to research, this will include lower speeds (+3% vs. beginning of ‘21, but still 13% below 2008 levels), EST (Energy Saving Technologies) retro-fitting (this is gaining momentum; EST’s have now been fitted to over 14% of the fleet), and potentially increased tonnage recycling.
5000 CEU – 12 months TC
6500 CEU – 12 months TC
Source: Clarksons Research
| Type | Tons | Week 10 | Week 9 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 45000 | $ 53250 | -15 % |
| Suemax | 180t. | $ 46750 | $ 48750 | -4 % |
| Aframax | 120t. | $ 47250 | $ 53750 | -12 % |
| MR | 80t. | $ 30500 | $ 31750 | -4 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| VLCC | 125 | 100 | 76 | 60 |
| Suemax | 85 | 68.5 | 53.5 | 31 |
| Aframax | 77.50 | 62.50 | 50 | 38.50 |
| MR | 50 | 42 | 34 | 24 |
| Type | Tons | Week 10 | Week 9 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 20000 | $ 21000 | -5 % |
| Panamax | 76t. | $ 15125 | $ 15950 | -5 % |
| Supramax | 58t. | $ 14500 | $ 15250 | -5 % |
| Handysize | 30t. | $ 13450 | $ 14625 | -8 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| Capesize | 66 | 54.5 | 33 | 21 |
| Panamax | 40 | 34 | 25 | 17 |
| Supramax | 38.5 | 32 | 21.5 | 15.50 |
| Handysize | 32 | 26.5 | 19 | 12.50 |
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