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The average income for VLCC is getting close to $60.000 per day, even after a somewhat calm week. In contrast, there’s been a lot of activity over the Atlantic and in the Arabian Gulf for the Suezmax, which makes the segment stay in the excess of $70.000 per day. The Aframax segment has had a lot of activity in the Gulf of Mexico and the Caribbean which contributed to a big increase in rates, while most other regions have calmed down a bit. It is worth noticing that orders on newbuilds in 2022 was at the lowest in 27 years, while at the same time 19% of the existing fleet is over 18 years old. In 2024, this will result in a negative fleet growth in tankers for the first time since 2002.
Aframax ECO, 12 months TC
Aframax, Average spot
Suezmax ECO, 12 months TC
Suezmax, Average spot
Source: Clarksons Research
Generally, a more positive week. The bulk segment saw the strongest average rates since the beginning of January this year when the income was increased with 39% to $9.790 per day.
Capesize average rates increased to $6.557 per day, which is the highest level since mid-January, but still approximately 60% lower than the 2022 average.
We finally got to see the effect of Indonesia’s increased export of coal, as the Supramax rates were increase with approximately $5.000 from last week, while there was an increased volume of grain out of the US Gulf and South America which generally strengthens Handysize to the Panamax market. We are also seeing declining tonnage lists of open boats in the Atlantic
Capesize, 12 months TC
Kamsarmax, 12 months TC
Source: Clarksons Research
Yet another robust week for the car carriers. The spot market within this segment is pretty much non-existent, given that high incomes can be secured in the period market, and because market actors wish to secure available tonnage for the years to come. The total order list in the car carrier segment has now reached 129 ships. These ships vary in size, but the majority belong to the 7000-9000 CEU class. Those are the biggest ships within the segment that are willing to travel on the big trade routes (deep sea). The pressure to build the biggest ships is contributing to a slower delivery time from the shipyards, where some now won’t be ready for delivery until as late as 2027.
5000 CEU – 12 months TC
6500 CEU – 12 months TC
Source: Clarksons Research
| Type | Tons | Week 8 | Week 7 | + /- |
|---|---|---|---|---|
| VLCC | 300t. | $ 48000 | $ 45000 | 6.5 % |
| Suemax | 180t. | $ 45500 | $ 45500 | 0 % |
| Aframax | 120t. | $ 47500 | $ 46750 | 1.5 % |
| MR | 80t. | $ 34750 | $ 33500 | 3.5 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| VLCC | 125 | 100 | 76 | 60 |
| Suemax | 85 | 68 | 53 | 31 |
| Aframax | 75 | 62.50 | 50 | 38.50 |
| MR | 47.50 | 41.50 | 32 | 21 |
| Type | Tons | Week 8 | Week 7 | + /- |
|---|---|---|---|---|
| Capesize | 180t. | $ 15700 | $ 15800 | 0 % |
| Panamax | 76t. | $ 13800 | $ 13200 | 3 % |
| Supramax | 58t. | $ 13500 | $ 13000 | 3 % |
| Handysize | 30t. | $ 12650 | $ 12250 | 3 % |
| Type | Resale | 5y | 10y | |
|---|---|---|---|---|
| Capesize | 53.50 | 44 | 29 | 18.50 |
| Panamax | 36.50 | 30 | 22.50 | 14.75 |
| Supramax | 35.50 | 28.50 | 18.50 | 14.75 |
| Handysize | 28.50 | 24.50 | 16.50 | 10.50 |
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