ECONOMY

Shipping Report

TANKERS Quieter conditions on Aframaxes in the Med., with lesser inquiry out of the Black Sea and rates ranging from W/S 175 to W/S 220, depending on the age of vessels and the charterers requirements. – Cont. firmer with latest fixtures for 100,000-ton cargoes at W/S 170. – Caribs stable with the 70,000-ton cargo liftings being fixed at W/S 240. – Suezmaxes weaker out of W. Africa, with marginal fresh inquiry. Rates are hovering around W/S 160-165 for USAC / US Gulf / Med. destinations. – In the Med., Cepsa for 80,000 tons of cargo, loading February 10 Algeria, discharging Spain, has fixed M/T «Panaghia Armata» at W/S 265. – In the Cont., Chevtex for 80,000 tons of cargo, loading February 8 N. Sea, discharging UKC, has fixed Lundqvist tonnage at W/S 170. – In Caribs and on smaller sizes, URSA has fixed M/T «Chimborazo» for 50,000 tons of cargo, loading February 20, discharging USWC, at W/S 195. – In W. Africa, Emerald has fixed M/T «Cosmic» for 130,000 tons of cargo, loading February 16, discharging USAC, at W/S 170. DRY CARGO Panamax rates in Far East have dropped, with charterers aggressively talking the market down. A combination of the upcoming Chinese New Year holidays and a buildup of early ships is undermining the market. – Baumarine has fixed M/V «Torm Tina,» 75,966 dwt, built 2001, for February 3-4 Sakkaide for 5-7 months’ trading, at USD 12,250 daily, while a 1994-built 70,171dwt vessel was fixed for an Australian round trip voyage at USD 10,000 daily. A week ago a similar voyage was getting USD 15,000 daily. – On Capers, Transfield has fixed M/V «Mineral Sines,» 172,316 dwt, built 2002, delivery February 1-5 Japan, trip via Australia, redelivery Far East, at USD 20,500 daily, while on coal cargoes, Sinochart has fixed M/V «Sanko Oasis» for 150,000 tons of cargo, loading February 1-14 Australia, discharging Taiwan, at USD 6.00 per ton with 45,000-ton load and 30,000 tons discharge. – On Panamaxes in Atlantic, Bunge has fixed M/V «Darya Preth,» 73,199 dwt, built 1995, delivery US Gulf February 10-15, redelivery UKC, at USD 10,700 daily and USD 175,000 ballast bonus. – On smaller sizes, Samsun has fixed M/V «Muirfield,» 37,500 dwt, built 1985, delivery February 5-15 S. Africa, redelivery UKC, at USD 9,750 daily.