COMBINED shipping earnings are worse than at any time so far this year, with energy shipping hit especially hard, according to London shipbrokers Clarksons, reports New York's Seeking Alpha.
An oversupply of tonnage led to a three per cent decline in the ClarkSea Index to $22.5K/day.
Clarksons noted softer rates in tanker markets, with average crude vessel earnings down 12 per cent over the week, although still at a healthy $33,713/day, and product tanker earnings 16 per cent lower to $13,594/day.
In the LNG carrier spot market, average rates for a two-stroke 174K cbm unit down two per cent on the week to $30K/day, which Clarksons saw as a record low.
"Though there were signs of an uptick of activity, there remains potential for further softening in the east," Clarksons said.
Bulkers reportedly turned in a mixed week, led by capesize earnings rebounding by 26 per cent to $22,239/day.
https://www.shippingazette.com/news?news_id=9241100000664
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