Aframax tanker prices fall further

The German bank DVB predicts that the price of the new Aframax tanker will be further reduced to around 47 million U.S. dollars. In the next 12-15 months, Aframax's shipping costs remain low. DVB also said that the price of Aframax tankers has dropped dramatically from 82.5 million U.S. dollars in 2008 to 59.7 million U.S. dollars in 2009. The new ship price in 2010 may be reduced to 50 million US dollars, but next year may bottom out, down to 47 million US dollars DVB is expected inflection point will appear in 2012, new orders will improve in 2011.

DVB said that for the Aframax tanker market, 2009 is the worst year in more than a decade, and even the next situation will be even worse. Although the global economy is recovering, the Aframax market has not improved. In particular, the excess capacity of Aframax-type ships also has to face the competition between Suezmax tankers and VLCCs on short-haul routes. Due to the large amount of new capacity delivered in the past few years and the capacity to be delivered soon, shipping costs may continue to slump. DVB believes that Aframax will gradually return to balance after its number of operations declines in 2012.

“The shipowner needs to start dismantling the old ship and cancel the order.” DVB said, “Because of the low price of the new ship, a large number of new ships are set. All indications are that the downturn in the Aframax ship market will continue.” Last year there were 138 Ships, 15.29 million dwt to join the market, but only 16 ships, 15.3 million dwt was dismantled. The new capacity of more than 13 million dwt means that in only one year, the shipping market capacity has increased by 15%. And this situation will continue in 2010. Unless the shipowner realizes this problem and actively responds, by the end of 2012, the Aframax ship market will also add 15 million dwt of new capacity, totaling 90 million. Dwt.