Last week, all the biggest tankers (VLCCs) were trading at increasing rates, especially between the Middle East and Asia. According to tank broker Charles Weber, the average rate for VLCC was $ 45,000 a day, rising from $ 23,000 the week before. This also affected, to a certain extent, the Suezmax rates, up 36.5% in the same period. Ratios for Aframax, which has had the best development in recent weeks, fell back to just under $ 13,000, but the positivity among the players is definitely increasing.

The development in the biggest vessel classes is expected to pull the entire tank segment upwards in the next months. This expectation is also reflected by the increased prices for long-term leases.

Aframax 12 months charter rate: $14.500 per day
Average rate in the spot market: $16.700per day

Dry Bulk
Baltic Dry Index fell 0.3% last week and closed at 1,536 points. The rates for Panamax increased 1.9% to $ 13,849 per day. The Capesize rates rose in excess of 4.1%, despite the Chinese holidays «Golden Week».

It was mainly coal and soybeans that accounted for most of the activity for Panamax / Kamsarmax, a development expected to last.

Capesize 12 months charter rate: $20.500 per day
Panamax 12 months charter rate: $14.000 per day

The activity in the secondary market picked up last week, and especially Panamax was popular with the buyers. A total of 6 vessels in the class got new owners through the week. It is a good sign that there are medium-sized vessels in the 1997-2005 age group which are traded, as this may potentially affect the pricing of our dry cargo project earlier this year.

In the tank market, 3x VLCC was sold in addition to a number of smaller vessels.