After a couple of weeks of huge earnings in the tank, the levels have fallen back again. Although earnings have fallen, the tank market is still raw strong. We note that the United States has given COSCO exceptions to the Iran sanctions for two months, which has led to a longer tonnage list, especially against VLCC. This has led to increased competition among the rears. In the Suezmax segment, rates fell due to limited cargo demand. In Aframax, it has generally been a relatively quiet week, where the rates seem to have ? ‘ bottomed ‘ out to an average earnings of just over $40.000 a day.

Aframax – 12 month lease: $ 26,500 per day
Aframax – Average spot market rate: $ 41,845 per day


The dry cargo market stays at roughly the same levels as last week. In Capesize, the rates fell marginally as a result of the oversupply of tonnage from the routes out of Brazil. In the Panamax segment, the reefs were put under pressure due to limited demand in the Atlantic. The market is still strong, and a driver for an increase of rates ahead may be the increased Chinese procurement of American grains.

Capesize 12 month lease: $ 19,750 per day
Panamax 12 month lease: $ 12,675 per day



The strong earnings have begun to reflect on the ship’s values. A 2003 built VLCC (Hyundai Samho) on 319.012 DWT traded hands to the tidy sum of $32m, which is at least $4m over the original price it was negotiated several months ago.


No transactions of interest.