However, during the recent holiday period there was some activity in the East as charterers worked secretively fixing ships under the radar.
This has brought the monthly count closer to normality at about 90 by the middle of this week, Fearnleys reported.
Tonnage in the MEG has thinned considerably and the trend has firmed over the last days. Rates for MEG/East trips have gone from high WS40ss to mid WS50s. Owners were clearly seeing an opportunity to add to the present firm undertones, but again the total volumes for the month will be the deciding factor whether a further strengthening could be in the cards.
West Africa/East remained relatively stable. Rates fluctuated from mid WS40s to low WS50s, following the MEG/East. Rates North Sea/East and Carib/East came off their peaks, but ships in the areas were for the most part able to secure employment at healthy returns.