Spot Rates Rise

Friday, August 10, 2001
Average July 2001 tanker spot freight rates slightly up from June The average spot freight rates (time charter equivalent rate) for VLCCs (trading AG-Japan) went up to USD 21,624 per day for a modern vessel; this is up 12.7% from the average of June 2001. The corresponding rate for a modern Suezmax trading West Africa to US went up to USD 30,125 per day or up 28.7%. For a modern Aframax tanker trading North Sea to UK/Cont. the average rate for July 2001 was USD 29,511, up 67.5% from the low level obtained in June. The average monthly rates for these three trades had been steadily declining from March to June 2001. - (Source: INTERTANKO)
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Offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

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China Building Island Big Enough for Airstrip

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Tanker Trends

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BG Group's Queensland Curtis LNG to Ship First Cargo

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