Giant Boxship Speeds Jumped in December: VesselsValue

by Ship & Bunker News Team
Monday January 11, 2021

Ultra large container vessel (ULCV) speeds jumped on the month in December, according to shipping intelligence service VesselsValue.

Average laden ULCV speeds in December were 16.15 knots, according to data compiled by VesselsValue, up by 1.1% from a month earlier and by 0.3% from December 2019.

Ship operators changing speeds according to strength or weakness in freight markets and bunker prices can have a significant impact on bunker demand.

The change was "likely due to an increase in seasonal shopping," the company told Ship & Bunker by email Monday.

"After the summer slowdown, this vessel type has had a strong end to the year."

Dry Bulk

In the dry bulk segment Supramax bulkers also saw an increase on the month.

Average laden Supramax speeds were 10.94 knots in December, up by 0.2% on the month and by 1.2% on the year.

The gain was "mirroring the steady rates we've seen for this ship type since the recovery in June 2020," VesselsValue's analysts said.

"The 1.2% increase YoY for December highlights some potential positivity heading into the new year."

Tankers

In the tanker segment Aframaxes broke a trend, gaining in speed for the first time in seven months.

Average laden Aframax speeds were 11.02 knots last month, up by 0.5% on the month but down by 1.3% on the year.

"Rates remain low with little positive sentiment for the new year as supply still outstrips demand," VesselsValue said.

Ship & Bunker News Team
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