Fearnleys Week 31 2008

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jul 2008

As VLCC activity in the MEG eased off rates came under downward pressure, and with rather less demand and the appearance of more tonnage, charterers were able to attract a number of offers for cargoes they placed in the market. When a major VLCC owner accepted the first counter from a major oilco, this automatically resulted in downward correction of nearly 20 percent in MEG/USG rates. With the Suezmax market also wavering; perhaps we can expect somewhat lower VLCC levels in the near Download File

Source: Fearnleys