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Another busy week has contributed to push the rates up for the VLCC, average earnings are up 27% to $49.746 per day. It’s been equally active for the Suezmax segment and we see the rates are keeping their bull trend, where average earnings are up 17%. For Aframaxes it has been somewhat of a quiet week over the Mediterranean, but on the other hand, the high activity level in the US Gulf has held the sentiment steady. Worth noting that the tanker orderbook is only 4% of the existing fleet, which has contributed to a steep rise in secondhand prices for all sizes.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
A positive start of the week quickly turned on the capsize which continued down 30% to usd 3132 per day. Lots of open tonnage for Brazil loading indicates that the characters are in control. Panamax suffered from the same brazil trends as cape, including all of east coast south america which led it down to usd 9741 per day. Even though we saw positive trends for loading Australia and Indonesia, grains out of the US west coast have yet to reach big enough export volumes to affect the rates. Better days still to come.
The smaller vessels saw small signs of positivity whereas supramax rates rose 23% to usd 8400 per day mainly because of increased export out of the US gulf. Spot vessels in certain areas concluded sharp rates. The Pacific remains to rise due to lack of cargoes.
Capesize, 12 months TC
Kamsarmax, 12 months TC
Source: Clarksons Research
Car carriers remain at high levels week-to-week and are predicted to remain at these levels going forwards, where increasingly longer and better paid TC-contracts are getting signed. The companies that operate within this segment report a strong cash flow both now and for the time to come, according to several of the Q4 reports from the Norwegian car carrier companies out there. A trend we are also today is the car manufacturers’ desire to get involved with the shipyards and the building process itself, only to secure free available tonnage in the coming years. With the tightening we are currently seeing in the rates within this segment, it is precisely in today’s market the carriers have the opportunity to sign historically good freight agreements. The ships delivered from the shipyards in the coming years will have such a good cash flow from the start that is rarely seen in shipping.
5000 CEU – 12 months TC
6500 CEU – 12 months TC
Source: Clarksons Research
| Type | Tons | Week 7 | Week 6 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 45.000 | $ 45.000 | 0 % |
| Suemax | 180t. | $ 45.500 | $ 45.500 | 0 % |
| Aframax | 120t. | $ 46.750 | $ 46.750 | 0 % |
| MR | 80t. | $ 33.500 | $ 33.500 | 9 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| VLCC | 125 | 100 | 76 | 60 |
| Suemax | 85 | 68 | 53 | 31 |
| Aframax | 75 | 62.5 | 50 | 38.5 |
| MR | 47.5 | 41.5 | 32 | 22.5 |
| Type | Tons | Week 7 | Week 6 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 15.800 | $ 15.000 | 5 % |
| Panamax | 76t. | $ 13.200 | $ 13.700 | 4 % |
| Supramax | 55t. | $ 13.000 | $ 12.550 | 3 % |
| Handysize | 30t. | $ 13.250 | $ 12.750 | 4 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| Capesize | 53.5 | 44 | 29 | 18.5 |
| Panamax | 36.5 | 30 | 22.5 | 14.75 |
| Supramax | 35.5 | 28.5 | 18.5 | 14.75 |
| Handysize | 28.5 | 24.5 | 16.5 | 10.50 |
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