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Another mixed week for the oil tankers, with the VLCC average earnings at $34,342 per day, down 4% from the previous week. This is partly due to charterers trying to capitalise on the high demand for tankers in the west. However, spot earnings for scrubber-equipped Aframax increased by 33% to $76,447 per day as a result of increases in the US Gulf and the Caribbean. Scrubber-equipped Suezmaxes saw a steady 28% increase in daily average earnings from the previous week: $52,063 to $66,389 this week.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
Capesize had a strong week, and we saw the highest rates so far this year at $19,000 per day. Pressure faded a bit during the week until some new cargoes from North America to China kept the rates stable. Panamax fell slightly in both the physical market and FFA. Long tonnage lists for spot cargoes in South America led to shipowners handing out occasional discounts. The handysize and supra segments had a relatively flat week. New coal cargoes out of Indonesia helped keep the market steady.
Capesize, 12 months TC
Kamsarmax, 12 months TC
Source: Clarksons Research
Car shipping remains at a historically strong level in terms of both freight rates and ship values, with no major changes week-on-week. Tonnage owners hold the power, and ships are chartered on long-term contracts. Car shipping is known historically to have a limited spot market, and this is particularly evident with the current situation in the segment. Ships are chartered out with good earnings for longer periods, often two years or more. This correlates with how ship values are increasing further, and indicative prices for newly built 7.000 CEU ships have now reached $96m.
5000 CEU – 12 months TC
6500 CEU – 12 months TC
Source: Clarksons Research
| Type | Tons | Week 10 | Week 9 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 42000 | $ 45000 | -7 % |
| Suemax | 180t. | $ 45500 | $ 46750 | -3 % |
| Aframax | 120t. | $ 46250 | $ 47250 | -12 % |
| MR | 80t. | $ 30500 | $ 30500 | 0 % |
| 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. | $ 18250 | $ 20000 | -9 % |
| Panamax | 76t. | $ 14375 | $ 15125 | -5 % |
| Supramax | 58t. | $ 13750 | $ 14500 | -5 % |
| Handysize | 30t. | $ 13150 | $ 13450 | -2 % |
| 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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