On 23 July it became widely known that the shareholders of the private company Port-Active at their extraordinary meeting approved the acquisition of 50% in the authorized capital of M-Port, which controls Vladivostok Commercial Sea Port (VMTP).

SeaNews has asked Maersk to comment on the changes in the Eastern Europe Area setup.

Tankers Even though there was a steady stream of fixtures in the VLCC market, the supply of tonnage exceeded the demand for tonnage and rates came under downward pressure.

Tankers The VLCC market showed positive signs with increasing numbers obtainable for d/hull MEG/West due to limited positions end June.

Tankers The VLCC market remained soft and under downward rate pressure on most routes.

Tankers There was little new in the way of developments to report in the VLCC market, and the long holiday weekend intervening since our last report caused the market to remain quiet.

TANKERS Things were fairly uneventful in the VLCC market during the last week, and owners will need more activity if the market is to remain firm.

TANKERS The MEG VLCC market saw only modest activity but rates as expected gained further strength.

TANKERS The decrease in the supply of vessels referred to in our last report turned out to be healthy enough to provide VLCC owners with better rate levels.

TANKERS In spite of the May Day holidays celebrated in many countries, double hull VLCCs gained ground and tonnage availability tightened.

TANKERS The VLCC market in the MEG enjoyed steady demand for tonnage during the last week.

TANKERS The pall of low rates hanging over the VLCC market continued and even achieved new lows during this the week in spite of a steady interest in coverage.

TANKERS The MEG/West VLCC market remained untested for quite some time, but now new evidence is at hand after two major charterers fixed double hull tonnage at ws55 (one of these charterers actually fixed three units at this level), thus emphatically confirming suspicions that the market was, in fact, softer.

TANKERS There continued to be no significant change in mood of the MEG VLCC market, and the persisting situation of limited fresh inquiry, few new fixtures and a steady increase in the size of the tonnage list can only result in a further erosion of rates if nothing changes.

Tankers The trend from end last week continued in the VLCC MEG-market with limited inquiry for end April loading.

Tankers The VLCC market saw continuing interest from charterers with dates up to the 20th of April now in play, and this resulted in rates firming.

Tankers April VLCC stems in the MEG emerged prior to March stems being covered, and this had the effect of extending an already firm March market into April.

Tankers With a decline in activity and with a dwindling number of March stems, the VLCC market stabilized during the course of the week.

Tankers The VLCC market gathered strength as a substantial backlog of cargoes finally had to be placed on the market which resulted in rates moving upwards.