ECONOMY

Shipping Report

TANKERS Even firmer conditions on VLCCs, with increased number of fixtures. ExxonMobil has fixed M/T «Hyundai Sun» for 270,000 tons of cargo, loading Jan. 31, discharging East, at W/S 115, while there are rumors that even levels W/S 122.5 were successful, but further details are lacking. – Very strong demand on Suezmaxes as well. On the Cont., Valero has fixed M/T «Navion Saga» for 135,000 tons of cargo, loading Jan. 18, discharging ECC, at W/S 200, while Chevtex has paid W/S 165 for same cargo quantity, loading Jan. 25, discharging US Gulf. – In W. Africa, M/T «Poros,» for 130,000 tons of cargo, loading Feb. 6, discharging US Gulf, has been fixed by Blanchard at W/S 172.5. – Aframaxes quieter in N. Sea, except for the ice-strengthened ones, with rates around W/S 140. BP has fixed M/T «New Ace» for 80,000 tons of cargo, loading Jan. 13, discharging UKC, at above levels. – Med. and Caribs at stable rates of W/S 190-200 and W/S 162.5 for 80,000 and 70,000 tons of cargo respectively. – In the Med., BP, for 80,000 tons of cargo, loading Jan. 18 Syria, discharging Med., has fixed M/T «Genmar Star» at W/S 192.5. – On the Cont., ExxonMobil has fixed M/T «SKS Tweed» for 80,000 tons of cargo, loading Jan. 15, discharging Norway, at W/S 145. – 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 The market on Capers remains interesting, especially in the Atlantic where there are rumors of M/V «Pergamos» fixture by Baosteel for 160,000 tons of ore, loading Jan. 20-31 Brazil, discharging China, at USD 13.50 per ton with two days’ load and 30,000 tons’ discharge. – On Panamaxes, CHRTRS in the Atlantic have not succeeded in lowering rates after a dozen of new orders have been quoted. – In the East, rates are holding higher, with Chinese fixing M/V «Oriental Sun,» 72,651 dwt, built 1998, delivery Malaysia end Jan., trip via W. Australia, redelivery China, at USD 15,500 daily. – On Handies/Handymax, there is a good demand for grain business out of US Gulf, so rates are expected to get firmer. – On Panamax in Far East, HMM has fixed M/V «Sea Guardian,» 75,200 dwt, built 1999, delivery S. China mid-Jan., trip via Indonesia, redelivery Japan, at USD 14,000 daily. – In Atlantic, ABT has fixed M/V «S.A. Warrior,» 74,450 dwt, built 2001, delivery Gibraltar mid-Jan., for two legs redelivery in Atlantic, at USD 11,750 daily. – On smaller sizes, Asiabulk has fixed M/V «Salusnavis,» 39,940 dwt, built 1985, delivery mid-Jan., Morocco redelivery East Coast Mexico, at USD 7,500 daily.