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	Average earnings declined by 10% w-o-w this week... 17 December 2012

VLCC supply in the MEG remains relatively tight. However, the cargo count for December has been somewhat lower than expected, which has prevented rates from making any headway. This week, the rate on the Gulf-Japan route fell to WS 46.5, while overall, average VLCC earnings declined by 10% w-o-w to $21,377/day.

Latest VLCC Fixtures

Date	Name	Built	Cargo	Charterer	Load	Discharge	Rate

May-17	DELTA MILLENNIUM	2000	270,000 CRUDE	DAY HARVEST	AG	CHINA	WS 37
May-17	YANGTZE STAR	2011	265,000 CRUDE	EXXONMOBIL	AG	RED SEA	WS 41.5
May-17	PATRIS	2000	280,000 CRUDE	VELA	AG	USG	RNR
May-17	ACHILLEAS	2010	270,000 CRUDE	MERCURIA	USG	SINGAPORE	USD 3650000
May-17	COSCO TBN	2010	280,000 CRUDE	VELA	AG	USG	WS 22.5
May-17	ELIZABETH I A	2004	260,000 CRUDE	UNIPEC	W AFRICA	CHINA	WS 37
May-16	GHAWAR	1996	270,000 CRUDE	SHELL	AG	EAST	WS 38.5
May-16	ASTIPALAIA	2001	260,000 CRUDE	IOC	FORCADOS TERMINAL	VADINAR	USD 3165000
May-15	XIN TONG YANG	2009	280,000 CRUDE	VELA	AG	USG	WS 23
May-15	MAERSK SANDRA	2011	270,000 CRUDE	VITOL	HOUND POINT	S KOREA	USD 4750000
May-15	SHINYO NAVIGATOR	1996	270,000 CRUDE	IRPC	RAS TANURA	RAYONG	WS 40
May-15	UNIVERSAL BRAVE	1997	265,000 CRUDE	PTT	AG	THAILAND	WS 38
May-15	SHINYO KIERAN	2011	265,000 CRUDE	UNIPEC	AG	CHINA	RNR
May-14	EVGENIA I	2011	270,000 CRUDE	CHEVTEX	AG	SALDANHA BAY	WS 37.5
May-14	LEO GLORY	2003	270,000 CRUDE	UNIPEC	HOUND POINT	CHINA	USD 4715000
May-14	SHINYO KIERAN	2011	270,000 CRUDE	IRPC	RAS TANURA	RAYONG	WS 40
May-14	TANKERS TBN	0	270,000 CRUDE	ESSAR	CARIBS	WC INDIA	USD 3350000
May-14	ARAGONA	2012	270,000 CRUDE	SASOL	JEBEL DHANNA	DURBAN	WS 37.5
May-14	SYMPHONIC	2006	270,000 CRUDE	MERCURIA	ZIRKU ISLAND	CHINA	WS 40
May-13	DS VISION	2011	265,000 CRUDE	DAY HARVEST	MINA AL FAHAL	CHINA	RNR