The Aframax spot market declined month on month, with average earnings for '90s built tonnage falling 27% to $46,710/day. This trend follows the falls seen in the larger crude carrying sectors throughout August. Even after such a m-o-m fall, average earnings for August still exceeded the average earnings for the whole of 2007 and 2006. A total of 349 Aframax fixtures were recorded throughout August, as opposed to the 398 recorded in July. The number of fixtures declined month on month, as might be expected during the summer lull in activity.
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