ECONOMY

Shipping Report

TANKERS Present firm rates are being maintained not only in ex-Arabian Gulf for VLCCS tonnage but for Suezmaxes too. Zhenrong for 270,000 tons of cargo loading Feb. 4 discharging China has fixed M/T «Napa» at W/S 161. In W. Africa, Sun on VLCCS has fixed M/T «Grand Lady» for 260,000 tons of cargo loading Feb. 10, discharging USAC, at W/S 147.5, although it has also fixed the Suezmax M/T «Astro Canopus» for 130,000 tons of cargo loading Feb. 11, discharging USAC, at W/S 196.25. On Aframaxes, the market seems busier in the Med. with a number of fixtures at W/S 195-205. Karran has fixed M/T «Iran Abadeh» for 80,000 tons of cargo loading Jan. 25 Black Sea, discharging Med., at W/S 200, while Petroplus for same cargo quantity loading Jan. 24, discharging Med., has fixed M/T «Eagle Augusta» at W/S 192.5. Cont. market expected to move upward in the region of W/S 150. The latest fixture is that of CSSA and M/T «Moscow University» for 80,000 tons of cargo loading Jan. 21 N. Sea, discharging UKC, at W/S 142.5. Caribs stays weak, as Venezuela still strikes. Orion has fixed Conoco tonnage for 70,000 tons of cargo loading Jan. 22 East Coast Mexico, discharging US Gulf, at W/S 125. DRYCARGO Atlantic market remains flat with very few early cargoes on Capers. Rates have dipped slightly, although tonnage has been kept off the market longer than anticipated due to weather delays. However, the demand for short T/C periods still exists, with Swiss Marine having fixed M/V «Cotswold» 151,016 dwt, built 1986, delivery Taiwan end Jan. for 3-5 months trading, at USD 19,500 daily. Panamax rates in the East remain strong, with Mol Navix having fixed M/V «Oinoussian Lion» 71,662 dwt, built 1996, delivery / redelivery Japan mid-Jan. trip via Australia, at USD 14,250 daily. In the Atlantic, rates are stable with Worthington having fixed M/V «Gallia Graeca» 74,133 dwt, built 2001, delivery Amsterdam mid-Jan. 2 laden legs redelivery Skaw-Passero, at USD 12,000 daily. Handymax / Handies in the Atlantic are at healthy levels, with Ed&F Man having fixed M/V «Sea Satin» 45,342 dwt, built 1997, delivery 15-17 Jan. US Gulf redelivery Turkey, at USD 12,000 daily. On grain cargoes, Dreyfus for 22,000 tons of cargo loading US Gulf end Jan. discharging Salvador, has fixed at USD 22.00 per ton with 5,000 tons load and 2,000 tons discharge.