Nordic American Tankers Ltd (NAT)

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Suezmax-- 21 February

With Libya off-line, and a quieter Mediterranean and Black Sea market, Suezmax activity has been reduced. Owners of tonnage in the Atlantic basin are having to consider Mediterranean, Black Sea, West Africa or a longer ballast to the US Gulf. Rates for 130,000mt West Africa to UK-Continent weakened 1.2 points to WS77.5-80 level.

In the 135,000mt Black Sea to Mediterranean trade, rates fell three to four points to WS85-87.5. The 140,000mt Basrah to Mediterranean route was again tested, resulting in charterers able to slice 2.5-5 points from last week’s level, leaving the rate hovering in the mid WS30s.