ECONOMY

Shipping Report

TANKERS Steadier conditions in all markets, with Cont. at W/S 180 for modern Aframax while Med. at W/S 250 ex Black Sea. – In W. Africa, after a number of VLCCs have been fixed in the area, the Suezmax market remains quiet with rates hovering around W/S 160-165 for all destinations. – In the Med., most for 80,000 tons of cargo, loading Feb. 15, discharging Italy, has fixed M/T «Sea Nostrum» at W/S 275.5. – In the Cont. and on Suezmax, Emerald for 135,000 tons of cargo, loading Feb. 18 N. Sea, discharging USWC, has fixed M/T «Sonangol Kizomba» at W/S 167.5. – In Caribs, Blanchard for 130,000 tons of cargo, loading Feb. 9 East Coast Mexico, discharging US Gulf, has fixed M/T «Arteaga» at W/S 180. – In W. Africa, Emerald has fixed M/T «Cosmic» for 130,000 tons of cargo, loading Feb. 16, discharging USAC, at W/S 170. DRY CARGO The downtrend of rates continues, not only for Capers but for Panamaxes too. – Atlantic market is suffering from an oversupply of prompt tonnage, with several ships in ballast and several more due open in the next few days. – New business quoted in the Atlantic has largely been for second half Feb. loaders. – In the East, L. Dreyfus has booked M/V «Yong Tong,» 74,382 dwt, built 2001, for a trip from Puget Sound to Thailand at USD 10,750 daily and USD 180,000 ballast bonus. – On Handies/Handymax, the US Gulf remains firm for ships over 35,000 dwt. Fayette has fixed M/V «Britannia,» 48,377 dwt, built 2001, delivery Turkey end January, trip via Ukrane, redelivery Far East, at USD 12,500 daily. – In the Far East, Eta has fixed M/V «Full Strong» 70,171 dwt, built 1994, delivery Taiwan end January, trip via Australia, redelivery India, at USD 10,250 daily. – In the Atlantic and on smaller sizes, Mur has fixed M/V «Pacific Embolden» 43,396 dwt, built 1993, delivery Muscat end Jan., trip via South Africa, redelivery Far East, at USD 9,850 daily.