Showing 61 - 70 of 200
Capesize: The capesize market experienced a varied week with distinct developments in both the Pacific and Atlantic regions.
Capesize: The week began with an encouraging start in the Pacific market, marked by positive sentiment and a notable increase in volume with several tenders and operator-controlled cargoes, leading to a market increase of approximately 90 cents on C5.
Capesize: The week in the capesize market concluded with a continued trend of declining rates.
Crude oil and product tanker markets alike have faced high volatility in recent weeks and months, largely due to geopolitics and the constantly evolving situation in the global oil markets.
Capesize: The Pacific market this week was marked by overall sluggishness, experiencing limited activity.
Crude oil tanker tonnage in the size range from Aframax to VLCC is now recycled at the age of just 21, a level not seen since 1995. The poor freight market now increasingly impacts the segment of more mature tankers, effectively reducing the room for more demolition to balance the market.
Capesize: The Capesize sector spent the week trundling along the market floor as the last few day’s brief revival of rates was quickly wiped out, returning the 5TC back to $5-6k OPEX levels. On a more positive note, the Atlantic basin has begun to see a little more fixture activity with both Transatlantic and Fronthaul from Eastern Canada trades being heard.
