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Take a look below at our Shipbrokers’ Weekly Market Reports for Week 41 of 2019:
07th October – 11th October 2019 | Week 41
The tanker market has been experiencing an impressive freight market rally over the past couple of weeks, with the current appetite amongst charterers overwhelming the available tonnage circulating the market and cause a fixing frenzy. Seasonality, geopolitics and the enforcement of sanctions on a fair share of the fleet are the main drivers behind these extraordinary highs. The BDTI reached last Friday 1,941 basis points, its highest level since July 2008, while the average TCE for VLCCs and…..
Source: Allied ShipBroking
Week 41 | 11th October 2019
The Flood out of the US
Without a doubt, the key driver of the growth in crude tanker demand this year has been US crude exports. Aframaxes have been by far the biggest beneficiaries of rising exports, both in terms of STS demand and actual trading. Volumes traded on Aframaxes averaged around 1.15 million b/d in Q3, up by 0.45 million b/d from Q1 levels, according to ClipperData. The biggest gains were seen in trade to Europe, although higher volumes have also been shipped to Canada. Surprisingly, there also has been an increase in trade to the Caribbean, an unintended consequence of US sanctions placed on Venezuela. Suezmaxes have seen much smaller gains. Here, exports averaged around 550,000 b/d between July…..
WEEK 41 (04th October to 11th October 2018)
Tsuneishi Group have agreed to sell their Post Panamax “Jo Jin Maru” 99/2012 Tsuneishi Zhoushan, China (DD 06/2020) to UK based buyers Anglo International at a price of USD 19,8 mill.
Several Kamsarmax sales reported this week, with Misuga Kaiun selling M/V “Mangarella” 83/2009 Tsuneishi Fukuyama, Japan (SS/DD passed 04/2019) to Greek buyers for USD 15,5 mill while the last similar sale was in August where the one-year-older M/V “Nord Destiny” 84/2008 Sanoyas Hishino, Japan was…..
Source: Advanced Shipping & Trading S.A.
WEEK 41 | Tuesday 15th October 2019
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with regards to freight rates. Starting from the early-mid of summer the dry bulk industry followed a significant upward trend and despite some minor correc-tions that have been occurred lately, the BDI seems to have stabilized at high 1,000 points. Levels, which seem particularly attractive when compared…..