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DIRTY TANKERWIREVolume 30 / Issue 217 / November 8, 2012Market commentary(PGT page 2980)

East of Suez Dirty TankersVLCC From Persian Persian Persian Persian Persian Persian Persian Persian Persian Persian Persian Gulf Gulf Gulf Gulf Gulf Gulf Gulf Gulf Gulf Gulf Gulf To Japan West Coast India China Far East Singapore Red Sea South Korea US Gulf Coast US West Coast UK Continent Mediterranean To East Red Sea US Gulf Coast UK Continent Mediterranean China To East Red Sea China Japan Korea Australia North Asia Singapore Cargo size (kt) AASEYSZ 265 TDAFDSZ 265 AASLBSZ 270 PFAOCSZ 270 PFAODSZ 270 PFAOESZ 270 AASFASZ 270 PFAOGSZ 280 PFBACSZ 280 PFAOHSZ 280 PFANXSZ 280 Cargo size (kt) 130 PFAGOSZ 130 PFAGLSZ 130 PFAGNSZ 130 PFAGMSZ 130 TDAFCSZ 135PFAGKSZ AASEY00 TDAFD00 AASLB00 PFAOC00 PFAOD00 PFAOE00 AASFA00 PFAOG00 PFBAC00 PFAOH00 PFANX00

Worldscale 37 40 37 37 37 40 37 23 40 25 25 Worldscale 68 73 41 43 43 81 Worldscale 95 100 100 92 92 90 85 Lumpsum 180

AASEZ00 TDAFH00 AASLC00 TDAAB00 TDAAJ00 TDAAH00 AASFB00 TDAAN00 TDADG00 TDAAE00 TDADH00

$/mt 9.99 2.80 7.31 8.12 5.82 6.04 9.18 10.96 17.14 10.92 8.80(PGT page 2970)

East of Suez

(PGT page 2999)

Suezmax From Persian Gulf Persian Gulf Persian Gulf Persian Gulf Persian Gulf Red Sea Aframax From Persian Gulf Persian Gulf Red Sea Indonesia Indonesia Indonesia Australia Indonesia Cargo size (kt) PFAJDSZ 80 PFAJHSZ 80 TDAFBSZ 80 PFALQSZ 80 PFALOSZ 80 PFALPSZ 80 TDAFASZ 80PFBAGSZ PFAJD10 PFAJH10 TDAFB00 PFALQ10 PFALO10 PFALP10 TDAFA00 TDAAC00 TDAAI00 TDAFF00 TDABD00 TDABE00 TDABC00 TDAFE00 PFAGK10 PFAGO10 PFAGL10 PFAGN10 PFAGM10 TDAFC00 TDAAA00 TDAAG00 TDAAM00 TDAAD00 TDACY00 TDAFG00

$/mt 16.63 11.02 19.54 18.77 15.14 21.73(PGT page 2970)

$/mt 20.84 15.80 26.83 13.88 11.91 16.74 12.65 2.25(PGA page 703)

Worldscale rates on key Persian Gulf to East routes improved a little Thursday on the back of consistently good activity seen during the three trading days. According to sources, close to 126 cargoes have been covered for the November loading dates. Although most of the cargoes were covered privately, last night we saw several [ships going] on subjects and the market was active. The market has not changed much but I believe the rate slightly recovered, a VLCC broker said. Due to the steady flow of inquiries, owner sentiment is getting strong and some, not all, owners are resisting again. But it would depend on on when and the how many more uncovered cargoes come into the market for the current momentum to be sustained. Among fresh deals, ExxonMobil had a Frontline TBN on subjects for a Persian Gulf to East voyage, loading November 19-21, at w38. Idemitsu took the Gulf Eyadah for a Persian Gulf to Japan voyage, loading November 24, at w36.75. The level of activity that we saw of late has had an impact on the market. Many vessels that would have taken low levels have been fixed away, a source with a VLCC shipowner said. For too long this market has been bad. We

Correction note

(PGT page 1500)

80

PFBAG00

TDADD00

Futures at Platts Market on Close (16:30 London time)ICE Brent NYMEX WTI Dec M1AAYES00 AASCR00

106.83 84.91

Effective November 8, the values for UKC-USGC 55,000 mt and UKC-Med 55,000 mt as published in the PDF version of the Platts Dirty Tankerwire from November 1 onwards have been corrected. The assessments listed in Platts data services remain unaffected. The correct assessments are as follows: UKC-USGC: Nov 1: 120; Nov 2: 110; Nov 5: 110; Nov 6: 104; Nov 7: 110 UKC-Med: Nov 1: 121; Nov 2: 111; Nov 5: 111; Nov 6: 105; Nov 7: 109

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november 8, 2012

West of Suez Dirty TankersVLCC From Mediterranean Mediterranean Mediterranean Mediterranean Mediterranean West Africa West Africa West Africa West Africa West Africa West Africa West Africa UK Continent UK Continent UK Continent UK Continent Suezmax From West Africa West Africa West Africa West Africa West Africa West Africa Caribbean Caribbean Caribbean Caribbean UK Continent UK Continent UK Continent UK Continent UK Continent UK Continent Mediterranean Mediterranean Mediterranean Mediterranean Mediterranean Black Sea Black Sea Black Sea To UK Continent Mediterranean US Atlantic Coast US Gulf Coast Caribbean Far East UK Continent Mediterranean US Atlantic Coast US Gulf Coast UK Continent Mediterranean US Atlantic Coast US Gulf Coast East Coast Canada Caribbean UK Continent Mediterranean US Atlantic Coast US Gulf Coast East Coast Canada Mediterranean US Atlantic Coast US Gulf Coast Cargo size (kt) PFAICSZ 130 PFAIBSZ 130 PFAHXSZ 130 PFAIASZ 130 PFAHYSZ 130 PFAHZSZ 130 PFAGVSZ 130 PFAGUSZ 130 PFAOASZ 130 PFAOBSZ 130 PFAHPSZ 135 PFAHOSZ 135 PFAHKSZ 135 PFAHNSZ 135 PFALHSZ 135 PFAHLSZ 135 PFAHISZ 135 PFAHHSZ 135 PFAHDSZ 135 PFAHGSZ 135 PFALISZ 135 TDADQSZ 135 TDADSSZ 135 TDADRSZ 135PFAIC10 PFAIB10 PFAHX10 PFAIA10 PFAHY10 PFAHZ10 PFAGV10 PFAGU10 PFAOA00 PFAOB00 PFAHP10 PFAHO10 PFAHK10 PFAHN10 PFALH10 PFAHL10 PFAHI10 PFAHH10 PFAHD10 PFAHG10 PFALI10 TDADQ00 TDADS00 TDADR00 (PGT page 1970)

To UK Continent Mediterranean US Atlantic Coast US Gulf Coast East Coast Canada UK Continent Mediterranean US Atlantic Coast US Gulf Coast East Coast Canada Caribbean Far East US Atlantic Coast US Gulf Coast East Coast Canada East

Cargo size (kt) 260 PFAOLSZ 260 PFAOKSZ 260 PFAOJSZ 260 PFAOXSZ 260 PFAONSZ 260 PFAORSZ 260 PFAOPSZ 260 PFAOQSZ 260 PFAOOSZ 260 PFAOSSZ 260 PFAOMSZ 260 PFAOUSZ 270 PFAOVSZ 270 PFAOTSZ 270PFAOISZ AASLASZ

PFAOI00 PFAOL00 PFAOK00 PFAOJ00 PFAOX00 PFAON00 PFAOR00 PFAOP00 PFAOQ00 PFAOO00 PFAOS00 PFAOM00 PFAOU00 PFAOV00 PFAOT00

Worldscale 41 41 39 40 42 43 43 43 43 45 43 39 48 47 49 Lumpsum 3.70 Worldscale 60 60 61 58 59 65 42 43 67 65 60 62 51 50 52 51 62 62 52 53 52 63 55 53

TDABN00 TDABK00 TDABQ00 TDABT00 TDABH00 TDACS00 TDACQ00 TDACU00 TDACW00 TDACO00 TDACL00 TDACN00 TDACF00 TDACI00 TDABX00

$/mt 5.10 2.61 7.30 9.49 7.70 8.27 8.66 9.11 10.66 8.79 8.17 15.30 7.40 9.87 6.19 13.70(PGT page 1970)

cant say that we are doing well yet. The earnings are still depressed. So hopefully the volumes that we saw for November is maintained for December. The benchmark Persian Gulf to Japan voyage was assessed at w37, an increase of w1 point from Wednesdays levels. The market is improving at the moment. The West Africa cargoes have reappeared. A lot of fixtures have been done there. The volume of trading is also very high. If the same kind of tempo is maintained next week, then the rates could touch around w40s, a chartering source said. The Suezmax market didnt report any fresh fixtures on the day. But the rates for the Persian Gulf to Mediterranean and UK Continent were heard to be in the low w40s. The Aframax market was looking slightly steady in the Indonesian region. While the short hauls out of the Persian Gulf market were seeing fairly decent levels, the long hauls were going at mid w90s. I am seeing slightly better rates than last week, a broker said about the Persian Gulf Aframax market.

270

AASLA00

AASKY00

West of Suez

(PGT page 1999)

TDACR00 TDACP00 TDACT00 TDACV00 TDADC00 TDACM00 TDAAU00 TDAAS00 TDAAW00 TDAAZ00 TDACC00 TDABZ00 TDACE00 TDACH00 TDABW00 TDABV00 TDABM00 TDABJ00 TDABP00 TDABS00 TDABG00 TDADL00 TDADN00 TDADM00

$/mt 11.54 12.08 12.92 14.37 11.22 25.51 7.81 8.02 6.51 6.01 4.32 9.29 7.86 10.51 6.57 9.38 7.71 3.94 9.74 12.58 9.54 7.16 13.32 15.50

Spot freight rates for Cross-Mediterranean Aframaxes and Suezmaxes fell Thursday on weak fundamentals and fresh fixtures done at lower rates. Cross-Med Aframaxes fell w6 to w77, for 80,000 mt cargoes, on low cargo activity. Unfortunately rates have slipped a little, said an Aframax shipowner. There are some uncovered cargoes available to load out of West Africa, but the Med and Black Sea are certainly less exciting. While a shipbroker added: Afras are looking weak in the Med, the market lost about w2.5 [since Wednesdays assessment] and I am seeing w72.5 on subs ex-Sidi Kerir and w75 ex-Ceyhan. Even Black Sea is looking weaker at w80. There are just hardly any cargoes around. More cargoes were being reported on Aframaxes heading from the Caribbean to the US Gulf Coast to meet demand in the region and rates saw a significant rise. Caribbean to USGC rates rose w10 to w130, basis 70,000 mt, on high fixing activity and fixtures. The SC Sara was heard on subjects for a November 16 loading of a 70,000 mt crude cargo at w130, slated to Marathon. While the Kareela Spirit was heard on subs to Houston Refining for a November 15 loading at a rate

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West of Suez Dirty TankersAframax From Caribbean Caribbean Caribbean UK Continent UK Continent UK Continent UK Continent UK Continent Mediterranean Mediterranean Mediterranean Mediterranean Mediterranean Black Sea Baltic Primorsk Panamax From Latin America Caribbean Caribbean UK Continent UK Continent From Baltic Baltic UK Continent UK Continent Mediterranean Mediterranean Black Sea Northbound Southbound Turkish straits demurrage ($ 000/day)* 80kt 135kt*Charged to charterers account for delay in transit through the Turkish Straits AAPEE00 AAPED00 (PGT page 1960)

To US Atlantic Coast US Gulf Coast East Coast Canada UK Continent Mediterranean US Atlantic Coast US Gulf Coast East Coast Canada UK Continent Mediterranean US Atlantic Coast US Gulf Coast East Coast Canada Mediterranean UK Continent UK Continent*

Cargo size (kt) 70 PFALUSZ 70 PFALVSZ 70 PFAKDSZ 80 PFAKFSZ 80 PFAKESZ 80 PFAKGSZ 80 PFALFSZ 80 PFAJQSZ 80 PFAJPSZ 80 PFAJLSZ 80 PFAJOSZ 80 PFALGSZ 80 TDADTSZ 80 TDADPSZ 100 TDAENSZ 100PFALTSZ

PFALT10 PFALU10 PFALV10 PFAKD10 PFAKF10 PFAKE10 PFAKG10 PFALF10 PFAJQ10 PFAJP10 PFAJL10 PFAJO10 PFALG10 TDADT00 TDADP00 TDAEN00

Worldscale 130 130 131 85 86 95 96 97 71 77 73 73 75 80 60 0

TDAAY00 TDABB00 TDAAR00 TDACD00 TDACB00 TDACG00 TDACJ00 TDABY00 TDABO00 TDABL00 TDABR00 TDABU00 TDABI00 TDADO00 TDADK00 TDAEO00

$/mt 12.62 12.03 14.16 6.12 12.88 14.65 20.17 12.25 8.83 4.90 13.67 17.32 13.76 8.65 5.40 0.00(PGT page 1960)

not currently recorded. Caribs to USGC are going upwards, said a shipbroker. Were seeing 70,000 mt cargoes on at w135 and higher. Suezmaxes rates were also looking more bearish on Thursday, on weaker fundamentals, sources said. Cross-Med Suezmax rates fell by w1 to w62, basis 135,000 mt, on a glut of tonnage and not enough cargo activity. It is horrid in the Med Suezmax arena. There are far too many ships around to soak up the cargoes, said a shipbroker. Suezmaxes loading in WAF fell w3 to w60, basis 130,000 mt, also due to increased tonnage in the region putting pressure on the freight rates. Im seeing the Front Melody on subs to Exxon for a contract of affreightment cargo, said a shipbroker. She has options to discharge in the UK Continent but then again COAs normally include options. Im calling WAF-USGC at w57.5 and WAF-UKC or US Atlantic Coast at w60, all based on recent fixtures.

*Primorsk-UK Continent ice premium

Market News

(PGT page 100)

To US West Coast US Atlantic Coast US Gulf Coast Mediterranean US Gulf Coast To UK Continent UK Continent Mediterranean Mediterranean Mediterranean Mediterranean Mediterranean

Cargo size (kt) 50 PFANYSZ 50 PFANZSZ 50 AAKXESZ 55 AAKXCSZ 55PFBAHSZ

PFBAH00 PFANY00 PFANZ00 AAKXE00 AAKXC00

Worldscale 114 105 105 109 110 Worldscale 167 153 178 163 190 175 185 3 2

TDADI00 TDAAX00 TDABA00 AAKXP00 AAKXN00

$/mt 19.16 10.20 9.71 15.11 27.95(PGT page 1950)

Piraeus short of LSFO bunker fuel on Hellenic cargo delaysThe Greek port of Piraeus is set to run dry of low sulfur bunker fuel oil because of cargo delays from the countrys largest refiner, Hellenic Petroleum, market sources said Thursday. Sources at Hellenic Petroleum couldnt immediately be reached for comment on the matter. There are low sulfur fuel oil shortages at Piraeus until November 17 according to ELPE [Hellenic refineries] refineries, one supplier in Piraeus said, adding that Hellenic Petroleum was expecting a cargo and there is a delay. Market participants said they didnt expect any impact on LSFO prices in Piraeus as a result of the delays, but added that it could affect prices in other Greek ports. People [in Piraeus] will not offer LSFO at all, if we are talking about other ports, I believe that it will impact their prices as physical suppliers knowing this situation will definitely sell higher, the bunker supplier in Piraeus said. On Thursday, some suppliers in Piraeus were quoting 380 CST LSFO at $681/mt, a premium of $74/mt to 380 CST high

Handysize Residual Fuel Oil Cargo size (kt) 27.5 TDADYSZ 30 AAKXDSZ 27.5 TDADZSZ 30 AAKXFSZ 27.5 TDAEASZ 30 TDAEBSZ 30AAKXBSZ AAKXB00 TDADY00 AAKXD00 TDADZ00 AAKXF00 TDAEA00 TDAEB00 AAKXM00 TDADU00 AAKXO00 TDADV00 AAKXQ00 TDADX00 TDADW00

$/mt 14.91 13.66 24.67 22.59 15.33 14.12 22.76(PGT page 1960)

Turkish straits delays (days)*AAWIK00 AAWIL00

(PGT page 1960)

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sulfur fuel oil. On Wednesday, the 380 CST LSFO was assessed by Platts at $671.50/mt, a premium of $61/ mt to HSFO. --George Martiniuc, george_martiniuc@platts. com --Edited by James Leech, james_leech@platts.com

Reported crude spot transactionsGrade Forties Loading dates Load Port November 29-December 01 Size (barrels) Hound Point Seller 600,000

(PGA page 3)

Buyer Vitol

Statoil

Latest Market Fixtures

(PGT page 2950)

Russia to up crude deliveries to Belarus in November, DecemberRussian pipeline operator Transneft is planning to increase crude deliveries to Belarus by 315,000 mt in November and 420,000 mt in December, a Transneft spokesman said Thursday. We had planned deliveries of 4 million mt in the final quarter, but in line with orders received from the energy ministry we are going to increase that, the spokesman said. We were looking at increasing deliveries by 600,000 mt a month, but so far we have not managed to arrange that, he said. Deliveries of Russian crude to Belarus in October totalled 1.3 million mt, the spokesman said. On Wednesday Belarus media reported that Belarus and Russia are still discussing delivery volumes for the final quarter. Belarus news agency Belta reported that Belarus was expecting to receive 5.3 million mt of Russian crude in the period, while deputy energy minister Pavel Fedorov said Russia was planning to deliver 4.8 million mt of crude oil to Belarus in the fourth quarter, in exchange for up to 200,000 mt of gasoline deliveries, Belta said. The Russian energy ministry was unavailable to comment on the negotiations Thursday. Russia has been experiencing gasoline shortages since early September. In the third quarter Belarus received 5.3 million mt of Russian crude. Late last year Belarus and Russia struck a more favorable deal on deliveries for 2012 to 2015. The deal with Russia envisages supply of 21.5 million mt of crude to Belarus by pipeline in 2012, or 3.5 million mt more than in 2011. --Rosemary Griffin, rosemary_griffin@platts.com --Elza Turner, elza_ turner@platts.com --Edited by Jonathan Fox, jonathan_ fox@platts.com

Ship name Seaking OseasTanabe Front Tbn Tmt Tbn GulfEyadah AsianProgress Ulriken Desh Viraat Cosgold Lake Cosglory Lake Xin Pu Yang Xin Yue Yang Sci Tbn Maran Altair AframaxRiviera Azerbaijan Genie Desh Mahima New Accord Aet Tbn BM Bonanza CE-Shilla AngelicaSchulte K-Line Tbn MaerskProducer

Size 280 280 270 270 267.5 267.5 265 265 265 265 265 265 85 80 80 80 80 80 100 80 80 80 80 80 80

Type CR CR CR CR CR CR CR CR CR CR CR CR CR FO FO CR FO FO CR CR FO FO FO CR FO

Date Nov28 Nov27 Nov19 Nov28 Nov24 Nov22 Nov22 Nov22 Nov24 Nov22 Nov21 Nov19 Nov23 Nov20 Nov17 Nov16 Nov10 Nov13 eNov Nov22 Nov18 Nov18 mNov Nov12 Nov7

Route Basrah-USWC PG-USWC PG-East PG-R.Sea PG-Japan PG-Japan PG, Yemen-Thai MAA-MaiLiao PG-China PG-China PG-China PG-China R.Tanura-Mnglore Bahrain-Spore Cross PG MAA-Karachi PG-East Cross PG Kozmino-Japan Labuan-Bataan Spore-Japan Karim-Spore,Opts Malacca-Spore Kerteh-PDickson Cross Spore

Rate rnr 40 38 rnr 36.75 37.25 38.5 35 coa coa coa coa 85 95 rnr rnr 95 $335k $510k $415k 91.5 $230k rnr rnr rnr

Charterer Valero BP Exxon Clake Idem Ngt ThaiO Formosa Unipec Unipec Unipec Unipec MRPL Marub Chevron PNSC Vitol Ptt Shell Petron Mitsui Sinopec Conoco Aet Glasford(continued on page 5)

Assessment notes: Worldscale Freight Assessments are quoted as a percentage of Worldscale flat rates. Other assessments are quoted in a total rate for chartering the ship, expressed as a lumpsum in 000s of $. Platts determines $/mt freight rates based on a basket of Worldscale flat rates on several key routes between the two regions noted. Spot assessments are applied against this basket, to produce the assessment for a $/ mt rate. For lumpsum assessments, the amount is divided by the size of the cargo to determine the $/mt figure.

]

DIRTY TANKERWIRE

Volume 30 / Issue 217 / November 8, 2012

Editorial: West of Suez: Eklavya Gupte, Tel: +44-20-7176-6122, Yahoo ID: Plattsdirtytanker. East of Suez: Pradeep Rajan, Tel: +65-6530-6540, Yahoo ID: Platts_asia_shipping. Client services information: North America: 800-PLATTS8 (800-752-8878); direct: +1 212-904-3070, Europe & Middle East: +44-20-7176-6111, Asian Pacific: +65-6530-6430 Latin America: +54-11-4121-4810, E-mail: support@platts.com Copyright 2012 The McGraw-Hill Companies. All rights reserved. No portion of this publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise redistributed without prior written authorization from Platts. Platts is a trademark of The McGraw-Hill Companies Inc.Information has been obtained from sources believed reliable. However, because of the possibility of human or mechanical error by sources, McGraw-Hill or others, McGraw-Hill does not guarantee the accuracy, adequacy or completeness of any such information and is not responsible for any errors or omissions or for results obtained from use of such information. See back of publication invoice for complete terms and conditions.

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NWE-USGC Panamax vessels increase on weak European VGO marketExceptionally weak fundamentals in the European vacuum gasoil market has resulted in oil companies fixing an unusually high number of vessels destined for US shores, market sources said Thursday. Nobody can sell anything in Europe at any price, a market source said. Theres a lot of VGO around; its got to go somewhere. VGO is a processed oil used for further processing to be transformed into one or more components or finished product. Shipping sources reported a high number of Panamax-sized cargoes, totaling at least 400,000 mt in volume, that were set to head from Northwest Europe to the US Gulf Coast in mid-November. Vitol, ExxonMobil, Shell and BP are among the companies fixing the feedstock-laden ships, according to shipping reports. Northwest Europe to the US Gulf Coast is a key route for feedstocks. I would say there is more activity at the moment than we have seen in a while, said a Med-based shipowner. A chronic combination of abundant supply and soft demand among European refiners has plagued the NWE feedstocks market for several months, pushing VGO differentials to multi-year lows. Since September 18, when high sulfur VGO was assessed at front-month ICE Brent futures plus $8.31/barrel, its differential has plummeted a cumulative $12.49/b to its currently assessed level of December minus $4.18/b, the weakest since June 1, 2010. Low sulfur VGO has traveled a similar trajectory. Hence the hope placed among VGO sellers in US Gulf Coast refiners, which continue to show sporadic demand. All this cant be placed in Europe, a market source said. What else do you do with it? You cant place it in storage. Storage is increasingly not an option as yearend inventory tax issues begin to play a role in trading, with US-based companies compelled to reduce volume in tank, sources said. USGC buying continues haltingly at this point in the year as US refiners tend to buy only what [they] need while keeping inventories at a minimum, a market source said. Fixtures heard this week include the

Latest Market Fixtures (continued)Ship name Karavas Sentosa River Ross Sea Tk Tbn ParamountHydra OttomanEquity Baku Zaliv Anadyr Jill Jacob Nordic Zenith Genmar Argus Explorer Sarasota GoldenEnergytbn LigovskyProspect Gemini tbn Pegasus YasaScorpion Heidmar tbn Front Melody Stena tbn StavangerBlssm Nell Jacob North Star Kondor MaerskSonia GenmarCmpnion KareelaSpirit MinervaVirgo Lian Ping Hu SC Sara Front Tina Genmar Atlas Size 80 80 80 80 78 130 80 80 55 130 130 130 100 55 100 130 130 130 130 130 130 80 130 80 280 280 50 70 44 50 70 270 270 Type FO CR CR CR CR DY DY DY DY FO DY FO DY DY DY DY DY DY DY DY DY DY DY DY DY DY DY DY DY DY DY DY DY Date Nov11 Nov12 Nov16 Nov22 Nov13 Nov20 Nov16 Nov17 Nov16 Nov10 Nov22 Nov17 Nov13 Nov23 Nov14 Nov26 Nov21 Nov23 Nov23 Nov20 Nov22 Nov28 Nov30 Nov14 Nov25 Nov25 Nov13 Nov15 Nov20 Nov14 Nov16 Nov28 Dec02 Route Spore-N.China Kikeh-PDickson Gressik-Thailand Pen+STDn-Okin Miri-Vizag Libya-Trieste Ceyhan-Med S.Kerir-Spain Skikda-USGC Tallinn-Spore/ Tallinn-USGC Baltic-USGC Primorsk-UKCM Polvo-USGC Primorsk-UKCM Q.Iboe-SalBay Escravos-Spain WAF-UKCM Pazflor-USGC WAF-UKC WAF-USGC WAF-Opts Jose-USGC ECMex-Rdam Crbs-East Crbs-WCI Covenas-USGC Caribs-USGC Quebec-USAC/ USAC-Statia Crbs-USGC Caribs-Spore Crbs-China Rate rnr rnr rnr 95 90 65 77.5 72.5 110 $3.2m 50 50 60-55 105 60 67.5 rnr OP 57.5 coa 57.5-60 rnr 67.5 rnr $3.7m $3.3m 102.5 rnr rnr 110 130 $3.7m rnr

(PGT page 2950)

Charterer Clrlake Aet Ptt Petsmmit Sci OMV BP Repsol Valero Mercuria Clrlake Koch Repsol BP Vitol Chevron Cepsa Vitol Valero XOM Vitol Vitol ATMI XOM Glasford Reliance Valero HstnRef Shell Petrobras Marathon Glasford Unipec

DY: Dirty, CR: Crude, FO: Fuel Oil, +:Update, ppt: Prompt, cnr: charterer not reported, rnr: rate not reported, coa: contract of affreightment, o/p: own program

Nestos and Energy Challenger, both reported to be loading 55,000 mt dirty cargoes from Baltic ports to the USGC for November 8 loading -- the first to Vitol at w105 and the second to ExxonMobil at w107.5. Exxon was also slated to have a Golden Energy ship on subjects for a route out of the Amsterdam-Rotterdam-Antwerp region to USGC for a November 10 loading at w105. Freight rates to send a

55,000 mt cargo from NWE to USGC were assessed at w110 or $27.95/mt at Wednesdays close, a w6 ($1.52/ mt) rise in rates since Tuesday. Shipping sources indicated rates were currently steady at w110 on Thursday on low fresh cargo activity. --Robert Mayer, robert_mayer@platts. com --Angela Velasco, angela_velasco@platts.com --Edited by Martin ORourke, martin_orourke@platts.com

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