Page 78 - Annual Review 2021 full

Indian National Shipowners’ Association

5.2 Tanker Spot Earnings

Average Spot Earnings $/day

VLCC Suezmax Aframax LR2 (AG-Japan) Clean MR
Clean
c-2010- c-2010- c-2010- c-2010- Handy
Average c.2010- built c.2010- built c.2010- c-2010-built c.2010- built c.2010- built c.2010-
built Scrubber built Scrubber built Scrubber-ftd built Scrubber built Scrubber built
-ftd -ftd -ftd -ftd
2001 38829 33865 31095 40296 20437 24737
2002 23293 19765 19377 19862 11644 15598
2003 52453 41648 34213 32662 17562 26955
2004 98323 70117 48061 41353 27756 35689
2005 62558 57168 44540 42072 28853 37046
2006 64914 54517 39651 31851 25543 32303
2007 58795 43437 33311 23704 23669 31942
2008 97152 73863 50010 41305 21168 32792
2009 28434 25733 14370 16926 9176 5319
2010 33797 27820 17649 16002 10667 11180
2011 18263 18154 12199 13420 10635 9443
2012 21187 16908 12541 14172 10589 10592
2013 18621 15511 14131 13683 13277 10668
2014 30015 27791 24705 18302 12360 12473
2015 64846 46713 37977 30947 21405 22094
2016 41488 27567 22695 16533 12124 8692
2017 17794 15436 13873 10077 10220 7380
2018 15561 16466 16175 11002 8750 6734
2019 41364 31560 26225 22045 13740 14560
2020 53145 58750 30240 33163 22161 24473 28582 31840 15251 17411 13881
2021* 6852 11933 7223 10165 6490 9016 3417 6542 5705 7917 7378
Feb-20 26525 36731 29369 35454 25690 30283 13115 19176 14588 18449 21243
Mar-20 159269 164988 73770 76463 44692 47158 43291 46493 23297 25615 24963
Apr-20 171127 174912 87575 89557 52211 54001 92384 94548 37313 38879 42235
May-20 58046 62334 40881 43000 35378 37107 85481 88005 30764 32341 28088
Jun-20 45263 49263 14967 16944 9595 11277 18167 20480 10967 12490 7736
Jul-20 29114 32670 14089 15924 9754 11326 8917 10991 9360 10762 2953
Aug-20 21610 24366 13556 14908 9961 11225 14097 15605 10508 11667 3081
Sep-20 19058 21853 8577 9585 6116 7134 13664 15121 7245 8402 9456
Oct-20 15181 18360 4867 6239 4992 6130 9874 11643 6198 7487 1347

Nov-20 12071 15221 8287 9824 6935 8259 11622 13350 5273 6607 1200
Dec-20 19017 23031 6608 8859 5392 7311 12923 15157 7883 9608 2653
Jan-21 9674 14284 5945 8533 3856 6148 5445 8244 6517 8552 5610
Feb-21 3324 8993 8820 12205 9781 12600 882 4415 4691 7122 9587
Average earnings basis standard vessel and voyages assumptions; see ‘SIW Sources & Methods’ on SIN for more detail. A wide range of earnings
time series, including for c-2015-built ‘eco’ ships c.2015-built ‘eco’ scrubber fitted ships, dirty trading products tankers, and earning on individual
routes (including ‘triangulated’ voyages are available on Shipping Intelligence Network. Data prior to 2009 basis c.2000-built vessels
*Year to end of monthly series
Source: Clarkson Research Services - March 2021

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