Some contracting activity in the dry bulk sector. 7 ships reported, whereof 6 are bulkers. All contracts except one, an LPG carrier at HMD, is at Japanese shipyards. The reported prices are representative for the weak market, demonstrating the weak newbuilding market we are currently facing.

Very Large Gas Carriers' earnings have recently fallen to around operating costs level. VLGC earnings soared to around $60,000 per day at one point this year but they are now hovering around just $10,000 per day. Rates for a benchmark Saudi Arabia to Japan voyage are now around $38 per tonne.

In the NWE market, activity this week in the spot market is still sluggish as the number of enquiries and actual fixtures remain sparse. Also there are not many more cargoes circulated this past week with more long haul voyages being preferred and the vessels that are more suitable for this type of trade are larger ones.

In the LNG tanker segment, Dynagas of Greece is planning to seal an order for a first LNG regasification vessel of 170,000 cum from South Korea’s STX Offshore & Shipbuilding to be delivered in the first half of 2015 at an estimated newbuilding cost of about $300million, Golden Destiny reports this week.

Golar LNG Limited ("Golar" or the "Company") announced that it has entered into an agreement to sell the companies that own and operate the LNG Carrier Golar Grand, together with its time-charter, to Golar LNG Partners L.P. ("Golar LNG Partners") for a price of USD265 million. The transaction is subject to the satisfaction of certain closing conditions.

Golar announced that it has reached agreement for the development of the Company's first floating liquefied natural gas vessel (FLNGV).  The agreement is with Keppel Shipyard Limited ("Keppel") and is based on the conversion of existing Moss LNG carriers of which Golar owns three potential candidates.

George Prokopiou-led DYNAGAS has confirmed that it is in talks with STX Offshore & Shipbuilding to order one 170,000-cbm LNG regasification vessel. If this would be sealed, it would be the first for the Korean shipyard to be awarded an order from DYNAGAS.

StealthGas has purchased four newbuilding LPG carriers from an affiliated company for just under $100 million en bloc. The vessels are being built in a South Korean yard and are scheduled to be delivered from January to June 2014. The order encompasses four vessels, two 5,000cbm and two 6,500 cbm fully pressurized LPG carriers.

Little activity this week. Only is 3 VLCCs reported at GSI from Chinese compatriot DOSCO. Some yards are now turning down newbuilding business, claiming the market prices is at loss. This could mean we see a flat price regime until market picks up.