Ton Mile Trader

Little to report here - with rates remaining about the same in the Atlantic and Pacific.

Atlantic Basin (from Trygve at Southport):
There are a few ships fixed UKC/TA and a couple also fixed for UKC/WAF, but all in all the markets are quiet and there is not much more to be done before the New Year Holidays. The market has slipped a bit and we are pegging the regular 37,000 MT cargoes UKC/TA at WS 180-185 level for now (2008 rates of course). The Caribbean market is still uneventful and we are closing the year with rates hovering about WS 165 level for the regular 38,000 MT cargo liftings. We are still seeing some USG export cargoes, but also here we have a relatively quiet market, albeit positions are rather tight at the moment.

CPP Market Assessments (still 2008 rates) / Time Charter Equivalent US$/Day ? IFO $250/MT:

-UKC/TA - TC2: WS 185 $17,450
-Caribs/Up - TC3 WS 165 $14,200
-USG/Europe: WS 120
-USG/Chile: Untested
-S.Korea/USWC: $ 1.55 mill
-Spore/USWC: $1.75 mill

Pacific Basin:

LR1s still at about 140-145 (TCE $22k/day) on elusive demand.