Page 155 - Annual Review 2021 full

Annual Review 2021

8. WORLD TANKER MARKET CYCLE

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2000-20 2020 Jan-Feb 2021
Market rate
Ship type average Market % Diff. from Market % Diff. from This year so far …
indicator
value rate average rate average
Spot ($/day) 44,621 53,145 19% 6,852 -85% -104% Worse!!
VLCC 1 year t/c ($/day) 39,304 39,788 1% 23,875 -39% -40% Worse!!
5 year old ($m.) 80.8 63.0 -22% 67.0 -17% 5% Bit Better
VLCC average -1% -47% -46% Worse!!
Spot ($/day) 35,246 30,240 -14% 7,223 -80% -65% Worse!!

Suezmax 1 year t/c ($/day) 29,384 27,899 -5% 16,486 -44% -39% Worse!!
5 year old ($m.) 55.9 43.0 -23% 43.0 -23% 0% same
Suezmax average -14% -49% -35% Worse!!
Spot ($/day) 27,099 22,161 -18% 6,490 -76% -58% Worse!!

Aframax 1 year t/c ($/day) 22,581 22,329 -1% 15,125 -33% -32% Worse!!
5 year old ($m.) 42.4 32.5 -23% 33.0 -22% -1% Worse
Aframax average -14% -44% -30% Worse!!
MR Clean Spot ($/day) 16,231 15,251 -6% 5,705 -65% -59% Worse!!
Products 1 year t/c ($/day) 16,942 14,440 -15% 12,292 -27% -13% Worse!!
5 year old ($m.) 31.1 26.0 -16% 27.5 -12% 5% Bit Better

Clean products average -12% -35% -22% Worse!
Tanker average -9% -43% -34% Worse!!

Source: Clarkson Research Services, March 2021

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