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Rates remain weak, which is despite the increased volume that is located mainly near the area of the Persian Gulf. Looking forward, there are expectations of nascent optimism, but whether the rate climate improves depends on whether volumes increase – particularly from the West.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
Rates improve marginally among the smaller segments, while Capesize experiences a 20% growth compared to last week. Evergrande, China’s second-largest housing developer, is currently struggling with huge debts as well as liquidity problems, while approx. 50% of the Chinese demand for iron ore comes from the construction industry. Last night, Evergrande announced that it had reached an agreement with its creditors.
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 37 | Week 36 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 23.000 | $ 23.000 | 0 % |
| Suemax | 180t. | $ 16.250 | $ 16.250 | 0 % |
| Aframax | 20t. | $ 15.000 | $ 15.000 | 0 % |
| MR | 80t. | $ 11.750 | $ 11.750 | 0 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| VLCC | 97.00 | 70.00 | 46.00 | 33.00 |
| Suemax | 67.00 | 48.00 | 32.00 | 19.00 |
| Aframax | 56.00 | 40.00 | 26.00 | 16.50 |
| MR | 43.00 | 31.00 | 20.00 | 12.50 |
| Type | Tons | Week 37 | Week 36 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 34.250 | $ 33.625 | 1.9 % |
| Panamax | 76t. | $ 28.750 | $ 28.000 | 6.25 % |
| Supramax | 55t. | $ 29.500 | $ 27.000 | 9.25 % |
| Handysize | 30t. | $ 28.500 | $ 27.625 | 3.1 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| Capesize | 57.00 | 46.00 | 33.80 | 21.50 |
| Panamax | 37.50 | 32.50 | 24.50 | 16.80 |
| Supramax | 34.50 | 30.50 | 21.00 | 15.50 |
| Handysize | 28.50 | 24.00 | 16.50 | 9.50 |
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