Freight Rates - West Africa

Paul, in comparing freight rates for Med vs Caribs and Caribs vs Caribs (cargo size), I do see Bo's point.

For smaller lot sizes (8,600 - 11,800 MT), the rates are abt.:
$50 - $60 W. Africa to Med and
$60 - $80 W. Africa to Caribs

however,

the larger cargoes (20,000 - 30,000 MT) curently moving are as follows:
$30 - $40 W. Africa to Med and
$40 - $60 W. Africa to Caribs

So, in comparison to the Med, the additional freight incurred on moving a 8,600 MT cargo to
Puerto Rico vs a 20,000 MT cargo to the Med is $40.00, or for an 11,800 MT cargo $20.00.

Granted, these are not negotiated numbers, so they could be slightly better.

Let me know your thoughts.

Just keep in mind that PDVSA is there to supply an October cargo at +7. I would hesitate to purchase from an alternative source lest they back off on other negotiations.

Best regards,
Suzanne