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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 ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
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
Kamsarmax, 12 months TC
Source: Clarksons Research
5000 CEU – 12 months TC
6500 CEU – 12 months TC
Source: Clarksons Research
| 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 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| 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 |
| 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 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| 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 |
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