I hope that everyone had an enjoyable summer coz its going to be a ‘hot’ winter too! Newbuildings continue to be placed especially on dry and products, and owners are seeing signs of recovery on the capesize front! At last…

As always lets start from with the new contracts. China merhants ordered four more VLCC’s two in SWS and two in dalian so now they have 14 VLCC’s in total on order!!! Target marine went to sungdong for two option one 50,000 dwt products costing $34 mill apiece and four option two LR2’s costing region $48 mill each!

Full article, ELNAVI, Issue 477, September 2013, Page. 78

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