Capesize rates in the spot market weakened again last week after reports that Vale has not started all their mines after the accident, and that Hurricane Victoria ravaged outside Australia, which is an important market for the Capesizes. Recently, it became official that a number of mines going into deficit in Spain will be closed, which will lead to an increase in tonnes-mile in the dry bulk segment, which is positive. Also interesting to see that 12 month contracts increase from $ 11500 to $ 13,000. Is drybulk about to pick up again?


Furthermore, we see that Panamax experiences a slight increase in rates due to good activity in transporting bauxite out of the port of Kamsar.


Capesize 12 TC: $13.000 per dag

Panamax 12 TC: $10.800 per dag



The spot rates for Aframaxes fell last week. The main reason for this fall in earnings is weakened activity in the Baltic Sea and the UK area with Ireland due to excessive tonnage in the area. Increased production in countries such as Libya and Algeria has led to a rise in the rates in the Mediterranean. Last week, Aframaxes continued to earn significantly more than Suezmax in the spot market, which underlines the fact that the Aframax vessels are in great demand. Rates are expected to increase when US refinery maintenance period ends. What is very interesting, however, is that 12 months Time charter contracts increased another $ 750 to $ 20,250 a day. This is a very good sign and testifies that the tanker market is in a rising trend, something we have predicted throughout the winter.  

Aframax – 12 TC : $20.250 per dag

Aframax – Avarage Spot : $15.601 per dag




The market continues to remain relatively calm. However, there have been a couple of solid transactions in the secondary market. A 2001 built VLCC (298,410 dwt) went for $ 22m. What is more interesting for us is that two transactions were registered in the Aframax segment. A 2009 model (113,091) went for $ 22.5m and a 14-year-old ship (106,029) for $ 16m. This underpins the fact that ship values are in a rising trend when it comes to tankers.



The only activity of interest is a transaction of a five-year-old Kamsarmax (81,070) to $ 23,75m