Litasco Charters Second VLCC

[Dow Jones] Asian fuel oil’s prompt intermonth spreads ease a tad from Thursday on end-of-the-week profit-taking as outright prices finished the week higher. Feb/March spread in 180-cst swaps narrows slightly to $8.75/ton in backwardation while March/Apri, due to be prompt next week, is valued at $7.25/ton in backwardation. Litasco charters second VLCC of the week Friday, at $4.50 million, to ship barrels to Singapore; there is little other VLCC booking activity due to a closed arbitrage window. Litasco’s Homam Star will load from Rotterdam Feb. 20.
[I] - Gurdeep Singh, Dow Jones & Co[/I]