Dry Bulk Shipping: Dry Bulk spot rates tumbled further last week, as expected. Capes found some support towards the end of this week, but we see limited respite for owners on average in 1H20E. The first cyclone of the season impacted the iron ore rich Pilbara region of Australia this week, and another cyclone is now heading into the region. Chinese New Year is closing in at 25 January, and activity should remain slow over the next two weeks.

Oil Tankers: As we highlighted last week, the ample tonnage list of VLCCs in the AG pushed spot rates downwards. The positive is a tight tonnage list in the Altantic, thus average earnings are close to unchanged w/w. Recent S&P indicates that we will soon revise up our asset prices, as we indicated in our November report. Suezmaxes saw a busy market in all areas, with spot rates +13% w/w on average.

LNG Carriers: Spot rates were slightly down this week, with MEGI/XDF -6% w/w to $96k/d, TFDE -1% to $86k/d and ST -1% to 59k/d. We expect spot rates to fall further in 1H20E before rebounding strongly in 2H20E.

LPG Carriers: VLGC spot rates are unch w/w, with strong activity reported ex-US. With limited scrubber saturation, the major brunt of the HSFO/VLSFO switch is being carried by the average VLGC vessel, with TCE spot rates -42% m/m.

404 - Page not found

The page you are looking for doesn't exist or has been moved.

(www.cleaves.no)

• IMO2020
• 95% Fleet Utilization
• Very Few New Builds, Ship Building Companies have been Mowed Down & Built Condo's

Miles Taylor
@MilesTaylor47 on Twitter