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Crude tankers saw more joy than product tankers did this week, but results were mixed for most sizebands, partly because of AG inactivity.
The crude orderbook reaches 28 per cent of the fleet, signaling potential long-term downturn risks with VLCCs and Suezmaxes above historical averages, while second-hand bulker activity rises amid muted tanker transactions due to Strait of Hormuz uncertainties.
The dry bulk market saw declines across all segments, with the BCI 5TC falling to USD 34,708 amid oversupply, while Panamax rates partially recovered to USD 18,990, influenced by rising geopolitical tensions impacting US-Iran agricultural trade.