ABGSC Shipping Daily 15 June

Research evidence excerpt

ABGSC Shipping Daily 15 June

Equity Research - 15 June 2026 08:27 CEST

Shipping & Transport

• Tanker and dry bulk markets mixed, LPG and container up, LNG down

• Shipping peer group now at P/NAV 1.08x; large gains in Suezmax secondhand prices

• US blockade in Strait of Hormuz expected to be lifted Friday when agreement is signed

Tanker and dry bulk markets mixed, LPG and container up, LNG down

In the tanker market, VLCC (TD3C) spot rates were quoted at USD 399,686/day on Friday, 4,245 higher than Thursday.

Suezmax rates came in at USD 56,954/day, 1,050 up and in the product tanker market MR (Atlantic basket) spot rates came in

at USD 32,977/day, -2,015 lower.

In the dry bulk market, Capesize spot rates were quoted at USD 33,748/day on Friday, -300 down from Thursday. Panamax

came in at USD 20,545/day, 290 up and Supramax came in at USD 18,722/day, 111 up.

In the LPG market, VLGC (Middle East to Japan) spot rates were quoted at USD 222,457/day, 474 higher than Thursday.

LNG rates were down w-o-w with the 160k DFDE rate reported at USD 63,000/day (63,500) on Friday.

Container spot rates up 9.5% w-o-w with the SCFI quoted at 2,985 (2,726) on Friday.

Shipping peer group now at P/NAV 1.08x; large gains in Suezmax secondhand prices

We calculate an average P/NAV of 1.08x for our shipping coverage (including car shipping). Dry bulk is trading at 0.87x, tankers

at 1.04x, LNG at 1.48x and LPG at 1.44x.

We update current vessel values weekly and this week we note the following changes:

In the tanker market, we note the following changes: Suezmax resale, 5Y, 10Y and 15Y are quoted up 3.5%, 9.5%, 11.3% and

5.6% to USD 119m (115m), USD 104m (95m), USD 89m (80m) and USD 66m (62.5m), respectively. Additionally, Aframax and

LR2 newbuilding prices are both quoted up USD 0.5m w-o-w.