Wednesday, March 23, 2005

Flankseven VLCC market commentary

More fixtures...

And I mean more fixtures.

Today's Platou fixtures showing another 12 VLCC fixtures ex-AG, bringing the WTD total to 40 (on a Fri-through-Thurs week basis). Clearly, another heavy week for fixtures and bringing the April program up to 80 completed to date. Based upon normal returns to the availability pool, the number of available VLs over the next 30 days is probably dropping into the high-teens. Historical relationships would suggest another $15k/day increase in TCE rates this week, or WS120 by the end of week. Average rates are nudging over WS100, but a casual glance at the fixture sheets suggest a more measured trend...

Full article available on link.

BW$$

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