The demand for oil freight have been solid the last couple of months, especially from areas where Aframax is preferred. Despite that the rates fell back last week, the earnings were still good for the shipowners. There are strong signals that the tanker market will strengthen in 2019, despite an expected volatility because of OPEC´s production cut. This seems to give positive effects for the tanker freight as the freight distances is increased by larger oil export from other areas, like the USA.

Aframax – 12 months charter rate: $18.500 per day

Aframax – Average rate in the spot market: $32.449 per day


Dry Bulk

Baltic Dry Index fell with 7,2% last week and closed at 1.169 points. The rates for Panamax fell 14,3% to $9.145 per day. This is caused by lower demand, which is expected to be short-term. The long-term forecasts are good. It will be exciting to follow the development the next couple of weeks.

Capesize 12 months charter rate: $18.250 per day

Panamax 12 months charter rate: $12.500 per day



There have been a few transactions, so far in 2019 and a handful of smaller vessels have changed owners. Despite the small number of transactions, the interest seems to be present, since the shipbrokers have upgraded the guiding values in the tank sector,the last weeks. Despite the downturn in the dry bulk rates, the guiding ship values has remained on the spot. It will therefore be exciting to see how the first transactions are valued.