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Asian break leaves aframaxes in limbo.

Europe Intelligence Wire

| February 01, 2006 | COPYRIGHT 2006 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

Byline: Justin Stares in Brussels

Tankers

ASIAN holidays left brokers in the Mediterranean twiddling their thumbs yesterday.

Those who were at work sent each other messages of goodwill for the new Chinese year, while keeping one eye on poor weather and its possible effect on the European market over the next few days.

'The market is dead east of Suez,' said Nikos Varvaropoulos of Greece's Optima Shipbrokers. 'Between the Black Sea and the Mediterranean, rates have not been reported recently though we think that rates will improve if the bad weather continues.'

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