Happy new year to everyone I hope you are all prepared for a very tough year and hopefully in 12 months things will be better! As always lets start from the new contracts front. Cosco went to dalian for two option two VLCC’s for about $85 mill apiece, we remind u that COSCO had ordered another two option two VL’s in longxue 2 months ago!!!

Unfortunately the MR fleet seems once more overordered… sinokor ordered 10 option 10 MR’s (each MR costs $31 mill) in Hyundai mipo for long TC to shell and unfortunately the options have now been declared!!! Scorpio declared options for two more MR’s in the same yard and also ordered another four in SPP! Scorpio holds options for another eight vessels and price per ships is region  $32.5 mill.

Full article, ELNAVI, January 2013, Issue 469, Page. 46

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