VLCC (200.000-320.000 tdw)

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Results Time-Charter-Rates

Month	Hull	Age	1-Year Charter Rate estimates
04/2012	D/H	modern	27.000
03/2012	D/H	modern	20.250
02/2012	D/H	modern	20.000
01/2012	D/H	modern	19.000
12/2011	D/H	modern	17.000
11/2011	D/H	modern	21.250
10/2011	D/H	modern	21.249
09/2011	D/H	modern	22.250
08/2011	D/H	modern	26.625
07/2011	D/H	modern	25.001
06/2011	D/H	modern	25.000
05/2011	D/H	modern	26.000
04/2011	D/H	modern	26.001
D/H = double hull S/H = single hull

Month	Average TCE $
04/2012	30.758
03/2012	22.590
02/2012	10.321
01/2012	18.648
12/2011	9.202
11/2011	11.105
10/2011	-1.642
09/2011	-6.333
08/2011	-4.072
07/2011	-1.852
06/2011	4.779
05/2011	3.323
04/2011	2.341
TCE = Time Charter Equivalent Source: ACM Shipping, London

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