Tanker market

The rates in the spot market for Aframaxes strengthened marginally last week. It has been a busy week in both the Mediterranean and the Black Sea, yet the rates here have dropped somewhat. The average rates nevertheless strengthen overall, well helped by strong figures from the Baltic Sea and the North Sea. What is interesting to see is that an Aframax today earns almost twice as much a Suezmax in the spot market. Last week, we also saw jump towards the 20s for 12 month TC contracts, which are now $ 19500 per day. Aframax – 12 month TC: $ 19,500 per day Aframax – Average spot market rate: $ 19,547 per day

Dry Bulk Market
Capesize rates strengthened last week. There has been more activity with coal trades from both South Africa and Australia. Panamax remains more or less unchanged from the week before, with strengthened numbers on routes from Indonesia, while the figures from Australia continue to be weak for all vessels due to the competition from distressed Capesizes. Capesize 12 month lease: $ 11,500 per day Panamax 12 month lease: $ 10,500 per day