However, opportunities abound in other vessel classes as well:
- Handysize bulkers – Lagging other bulker segments, but ton mile demand for these units remains on a gradual upwards slope.
- Panamax container vessels – The removal of a significant number of older ships has preserved the value of prime age and fuel-efficient vessels.
- LR1 tankers – The large clean product tanker segment has seen a tough market environment over the past several years due to the large growth in vessel supply.
- Aframax tankers – Aframaxes have suffered from changes in trade patterns, but remain the workhorses of the crude tanker fleet, and the average age of the fleet on the water remains high. Rates should recover as older units come out of service, preserving the value of a five-year-old ship.