ECONOMY

Shipping Report

TANKERS Steadier conditions on Suezmaxes out of W. Africa, with rates around W/S 165 for the Med. and the USA. Irving with destination Canada has fixed M/T «Fairway» for 130,000 tons of cargo, loading February 24, at W/S 170. – A positive start for Aframaxes in the N. Sea, with rates around W/S 170 for 80,000 tons of cargoes and expected to rise. – Med. quieter, with owners of modern tonnage fixing between W/S 270-280 for Inter-Mediterranean travel. – Caribs are strong due to an increased amount of lightering and due to short supply of tonnage. – In the Med., Sibneft for 80,000 tons of cargo, loading February 12 Russia, discharging Med., has fixed Minerva tonnage at W/S 280. – In the Cont., Exxon Mobil for 80,000 tons of cargo, loading February 6 Norway, discharging USAC, has fixed MT/ «Moscow Kremlin» at W/S 220. – In Caribs, Citgo for 130,000 tons of cargo, loading February 16, discharging US Gulf, has fixed MT/ «Genmar Zoe» at W/S 167.5. – In W. Africa, Tamoil for 130,000 tons of cargo, loading February 20, discharging UKC, has fixed M/T «Eurosky» at W/S 162.5. DRY CARGO A quiet start to the week, with weakening rates for Capers and Panamaxes. – In the Atlantic, rates are easing. Eastern Rich took two ships at USD 13.50 for a run from Tubarao to China at USD 13.50 and Noble booked a 160,000 dwt, 10 percent ore cargo from Tubrao to Qingado at the same rate. – In the East, the 1996-built, 171,039 dwt, M/V «Constantia» per January 28-31 in Japan, is fixed for a trip via Richards Bay to Spain at a low USD 17,000 daily with allegedly Mol Navix. – The Panamax market in the East is easing with the long round-trip voyages likely to slip to USD 12,000 daily. – The Atlantic with limited inquiry, with rates weaker for round-trip voyages but remaining steady for trips to the East. – Handymax/Handies still in good demand, especially out of US Gulf as well as from Brazil/Argentina. – On Panamaxes in the Far East, Coeclerici has fixed M/V «World Ribbon» 74,000 dwt, built 1998, delivery China February 5-10 for an 11-13 month period, at USD 12,600 daily. – In Atlantic, Bunge has fixed M/V «Darya Tara,» 73,281 dwt, built 2000, delivery US Gulf February 5-10, redelivery UKC, at USD 11,200 daily and USD 210,000 ballast bonus.