As Fairplay's last issue for December went to press, charterers were getting stuck into their January VLCC programmes ex-Middle East Gulf (MEG), allowing the market at least to hold onto recent gains. With the Saudi nominations confirmed on 15 December, it looks as if the market should stay active until the Christmas and New Year holidays. Indeed, it looks as though charterers want to cover their first-half January stems, and possibly some second half cargoes, before the break. In the early part of this week, more than 20 first-half January stems had been fixed and two or three have emerged for the 11 -20 January period.
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