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Last week proved to be another incredible week in the tank market, especially in the Aframax sector. Aframax’s average earnings in the spot market are now $142.987/day, and for the Black Sea – Mediterranean trade the average is $197.919/day! The development in this particular trade is partly due to the emerging sanctions on Russian crude on 5th of December, which will positively affect the Aframax sector going forward. The trade Caribbean – U.S. Gulf is now at $170.161/day, which is very strong and proves how important the Aframax sector is in today’s oil tanker market. VLCC rates fell last week, due to little available product ready for shipping. Suezmax is also affected by the same development, but Suezmax rates in the Atlantic and West Africa remained at stable levels.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
Dry cargo remains under the same pressure as last week. Capesize saw a varied week, especially in the Atlantic where little available tonnage was seen. Capesize is up 28% week-on-week to $9.049/day. The Panamax segment remained stable last week, where strong sentiment was seen for shipping minerals in the Atlantic but weaker development in the Pacific. The Handysize segment reflects much of the same as Panamax, where shipping from the U.S. The Gulf was marked by the Americans’ Thanksgiving.
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 47 | Week 46 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 56.250 | $ 52.500 | 7 % |
| Suemax | 180t. | $ 46.500 | $ 46.500 | 0 % |
| Aframax | 120t. | $ 45.000 | $ 36.250 | 24 % |
| MR | 80t. | $ 32.500 | $ 32.500 | 0 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| VLCC | 120.00 | 90.00 | 66.00 | 54.00 |
| Suemax | 80.00 | 62.00 | 46.00 | 29.00 |
| Aframax | 73.00 | 58.00 | 43.00 | 32.00 |
| MR | 57.50 | 45.00 | 34.00 | 18.00 |
| Type | Tons | Week 47 | Week 46 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 15.250 | $ 14.000 | 9 % |
| Panamax | 76t. | $ 13.850 | $ 13.850 | 0 % |
| Supramax | 55t. | $ 13.000 | $ 12.500 | 4 % |
| Handysize | 30t. | $ 10.500 | $ 10.500 | 0 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| Capesize | 52.50 | 43.00 | 28.00 | 18.00 |
| Panamax | 37.00 | 30.50 | 22.50 | 14.75 |
| Supramax | 35.50 | 27.50 | 16.5 | 14.75 |
| Handysize | 27.50 | 23.50 | 16.00 | 10.00 |
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