There was not exactly a year-end rush in the traditional sense, but rather more a gradual build-up of both spot and contractual demand through December which culminated in a satisfactory year-end for both owners and charterers alike. In most markets, space became scarce, while at the same time few charterers were left with cargoes uncovered. The US market rarely felt busy during December. The lack of fixing was attributed to a lack of tonnage, yet in reality there was the usual number of ships around, except that they were already accounted for. USG/Far East went to the wire, with the last space being fixed in the week before Christmas. Rates were not dramatic - 10,000t cumene USG/ China fetched high $60s/t for example. Transatlantic eastbound also filled out quickly, with just a single ship left able to offer on December cargoes. USG/Caribs was in much the same position, with scheduled ships booked through to mid January. Yet at no time did any of these routes feel particularly active.
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