ECONOMY

Shipping Report

TANKERS Still lesser inquiry for VLCCs and Suezmaxes with rates at W/S 200 for 280,000 tons of cargo out of the Arabian Gulf with destination Red Sea, while Stasco from the same area has fixed M/T «Front Climber» for 130,000 tons of cargo, loading Feb. 5, discharging UKC, at W/S 155. – Aframaxes quite active in the Med. with increased inquiry for loadings out of Black Sea. – Cont. and Caribs quiet and at stable levels. – In the Med., Repsol for 80,000 tons of cargo, loading Feb. 1 Libya, discharging Spain, has fixed M/T «Armata» at W/S 175. – In the Cont., Atmi for 80,000 tons of cargo, loading Feb. 2, discharging US Gulf, has fixed M/T «Genmar Nestor» at W/S 165. – In Caribs, Stasco has fixed M/T «Sabine Spirit» for 70,000 tons of cargo, loading Jan. 25, discharging US Gulf at W/S 105. – In W. Africa, Vitol has fixed M/T «British Progress» for 130,000 tons of cargo, loading Feb. 26, discharging US Gulf at W/S 137.5. DRY CARGO Most of the very early Capers in the East are already fixed, so rates are expected to remain steady, while in the Atlantic, the focus is returning to all cargoes destined for China. Panamax rates remain strong in the Far East, with charterers continuing to show an interest in period tonnage. Japanese charter is already bidding over USD 14,000 for a large modern-type vessel for a short period. – NYK has fixed M/V «Torm Marina,» 69,637 dwt, built 1990, delivery Japan Jan. 27-28, trip via new South Wales (Australia), redelivery Japan, at USD 15,000 daily. – In Atlantic, rates are still firm, with industrial having fixed M/V «Henza,» 70,227 dwt, built 1988, delivery Bourgas end Jan., redelivery China, at USD 14,000 daily, while Pan Ocean has fixed M/V «Babitonga,» 70,529 dwt, built 1998, delivery Brazil Jan. 23-28, redelivery Far East, at USD 13,000 daily and USD 315,000 ballast bonus. – On Handymax/Handies, Clipper has fixed M/V «George Lyras,» 35,730 dwt, built 1984, delivery US Gulf Jan. 28-30, redelivery Colombia, at USD 10,000 daily and USD 85,000 ballast bonus.