Market News

EMF Weekly 39

2 weeks ago

Tankers

It has been some interesting days in the oil and tank markets. WTI oil has reached its highest level in six years, while OPEC+ stayed at its decision to phase out production cuts. The resolution may have come as a surprise to many as oil stocks are back at pre-covid levels, where they are falling rapidly. Here, it is most likely a matter of time before OPEC+ will have to produce more, assuming that global demand continues at the same pace. Among the large tank segments, rates are markedly up, occurring from relatively low levels.

$ /day
$ 0 /day

Aframax, 12 months TC

$ 0 /day

Aframax, Average spot

Tankers
Aframax, 12 months TC
Aframax, Average spot

Dry Bulk

Rates remain similar to the levels we saw last week among Panamax and Suezmax. The Capesize segment is strengthening by approx. 20%, with the average price just below $70k per day. This comes as a result of the accumulation of tonnage in various ports in the combination of strong and stable demand. Some transactions were settled for over $100k per day.

$ /day
$ 0 /day

Capesize, 12 months TC

$ 0 /day

Kamsramax, 12 months TC

Tankers
Capesize, 12 months TC
Kamsarmax, 12 months TC

S&P

Tanker

There is increased activity in the secondary market. A VLCC (306,999 dwt, built in 2002, Hyundai HI (Ulsan)) was sold for a price of $28 million. This is stated as a strong transaction.

Dry Bulk

A large number of transactions, mainly reflecting rising asset values.

Tankers

Conductive TC Rates (1 year)
Type Tons Week 39 Week 38 + /-
VLCC 300t. $ 25.000 $ 22.500 11 %
Suemax 180t. $ 16.250 $ 16.250 0 %
Aframax 120t. $ 14.500 $ 14.500 0 %
MR 80t. $ 11.750 $ 11.750 0 %
Beneficial Values
Type Resale 5y 10y 15y
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 12.50
MR 43.00 31.00 20.00 12.50

Dry Bulk

Conductive TC Rates (1 year)
Type Tons Week 39 Week 38 + /-
Capesize 180t. $ 37.875 $ 34.625 9 %
Panamax 76t. $ 29.250 $ 29.000 0.9 %
Supramax 55t. $ 29.000 $ 29.500 -1.7 %
Handysize 30t. $ 29.000 $ 28.500 0.8 %
Beneficial Values
Type Resale 5y 10y 15y
Capesize 58.00 47.00 35.00 22.00
Panamax 39.00 33.50 25.00 18.00
Supramax 37.00 31.50 23.00 16.00
Handysize 29.50 25.00 17.00 11.00

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