ECONOMY

Shipping Report

TANKERS The market is rather interesting, with firmer rates mainly on VLCCs and Suezmaxes. – Cargoes of 270,000 tons with destination east are being fixed above W/S 110, while for western destinations, owners are negotiating near W/S 90. – Suezmaxes out of W. Africa are fixed above W/S 160 with destination USAC / US Gulf and W/S 170 for the Med. – In the Med., normal round-trip voyages are being fixed at W/S 170, while out of Black Sea at W/S 180. – Aframax market appears quiet with a number of prompt tonnages in the Med. despite an increased number of rates for modern at W/S 190-195 and for 1980s-built at around W/S 160. – Cont. seems to be holding steady at around W/S 150, while in Caribs the 70,000-ton cargo liftings are being fixed at W/S 155-160. – In the Med., Repsol has fixed M/T «Iran Amol» for 80,000 tons of cargo, loading Jan. 17 Libya, discharging Med., at W/S 200. – In the Cont., Navion for 80,000 tons of cargo, loading beg. Jan. Baltic Sea, discharging UKC, has fixed M/T «E. Charlotte» at W/S 185. – In Caribs, Blanchard for 70,000 tons of cargo, loading Jan. 12 East Coast Mexico, discharging US Gulf, has fixed AET tonnage at W/S 170. DRY CARGO Rates in the Atlantic for Capers remain healthy, with further fresh business being quoted. BM mineral has fixed M/V «Quorn,» 179,869 dwt, built 1996, delivery Cape Passero via Brazil, redelivery China, at USD 28,000 daily. – The picture is similar in the East, with Noble having fixed M/V «Giuseppe Lembo,» 169,000 dwt, built 1999, delivery Jan. 1-10 China, trip via W. Australia, redelivery China, at USD 22,500 daily. – Panamax rates in the Atlantic are lower than in Asia but there has been a reasonable amount of mineral business quoted and charterers continue to show interest in tonnage making a second half delivery in the US Gulf. – In the East, Daeyang has fixed M/V «Tai Profit,» 73,105 dwt, built 2001, delivery Jan. 10-15 Taiwan until end March at USD 14,250 daily, while Armada has fixed M/V «Evdoxos,» 66,865 dwt, built 1984, delivery beg. January Rotterdam, trip via Baltic, redelivery UK, at USD 9,900 daily. – On Handies, Mur has fixed M/V «Mary H.,» 43,929 dwt, built 1997, delivery S. Africa Jan. 15-25, redelivery Far East, at USD 9,450 daily and USD 150,000 ballast bonus.