Market Chat: Weeks 48 and 49
Using VesselsValue data, Rebecca Galanopoulos Jones, Senior Content Analyst, analyses the current trends in the Bulker and Tanker markets. You can read the full piece here.
Capesize values continue to soften
Capesize values have continued to soften. Values for ten year old vessels of 180,000 DWT are down by c.13% since the start of the year, from USD 33.07 mil to USD 28.82 mil. The continued fall in values comes as Bulker earnings remain under pressure, and any hopes that an easing of Covid restrictions in China may provide a boost for Capes have yet to materialise…” Read more.
Tankers remain firm
“Last Monday signalled the official introduction of the EU and G7 embargo on Russian oil and since then, Tanker rates have shown volatility. VLCC rates on the TD3 TCE Middle East Gulf to China route are currently at 52,619 USD/Day. Suezmaxes stand at 67,974,325 USD/Day, rates which are still very firm…” Read more.
