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Rates rise approx. 15% in VLCC, falling about the same in Suez while Aframax is at stable levels. OPEC’s decision to increase production by 100,000 bpd in September is mostly a symbolic gesture, but with the expected comeback in Libya’s output, it looks promising for volumes going forward.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
Another difficult week for dry bulk. Capesize spot rates fall to their lowest level since February, well below B/E levels, primarily due to lower demand from Brazil and Australia. On a positive note, the first loads from Ukraine have finally been exported, which can provide support going forward.
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 31 | Week 30 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 33.500 | $ 32.500 | 3 % |
| Suemax | 180t. | $ 31.000 | $ 31.000 | 0 % |
| Aframax | 120t. | $ 28.000 | $ 27.500 | 1.8 % |
| MR | 80t. | $ 28.500 | $ 28.500 | 0 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| VLCC | 109.00 | 84.00 | 58.00 | 40.00 |
| Suemax | 79.00 | 59.00 | 42.50 | 25.00 |
| Aframax | 68.00 | 53.00 | 37.50 | 18.50 |
| MR | 53.50 | 41.00 | 27.00 | 15.00 |
| Type | Tons | Week 31 | Week 30 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 21.625 | $ 21.625 | -16 % |
| Panamax | 76t. | $ 17.500 | $ 17.500 | -4 % |
| Supramax | 55t. | $ 16.250 | $ 16.250 | -9.7 % |
| Handysize | 30t. | $ 18.500 | $ 18.500 | -5 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| Capesize | 62.50 | 53.00 | 35.00 | 22.50 |
| Panamax | 42.50 | 36.50 | 26.50 | 18.25 |
| Supramax | 40.50 | 33.00 | 23.50 | 18.50 |
| Handysize | 33.00 | 29.00 | 20.50 | 14.00 |
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