ECONOMY

Shipping Report

TANKERS A normal quiet start to the week in all areas, with modern Aframaxes in the Med. maintaining levels of W/S 260 due to bad weather conditions in the area. A few vessels ran aground off Algeria. -The Cont. remains firm at W/S 280 with tonnage prior to Feb. 13 remaining tight. -Caribs at W/S 260 for the 70,000-ton cargo liftings. -Suezmaxes quieter with Hess fixing M/T «Majestic» for 130,000 tons of cargo, loading Feb. 27, discharging Caribs at W/S 161.5, while Exxonmobil replaced M/T «Atlantis» with M/T «Decathlon» at W/S 165 to Zafiro / US Gulf. -On VLCCs, NGT has fixed M/T «Ocean Guardian» for 268,000 tons of cargo, loading Feb. 25, discharging Japan, at W/S 128. -In the Med., Karran for 80,000 tons of cargo, loading Feb. 17 Black Sea, discharging Med., has fixed M/T «Genmar Endurance» at W/S 230. -In the Cont., Petrogal for 80,000 tons of cargo, loading Feb. 11 UK, discharging Portugal, has fixed M/T «Alfa Germania» at W/S 187.5. -In Caribs, Stasco for 70,000 tons of cargo, loading Feb. 12 East Coast Mexico, discharging US Gulf, has fixed tankers tonnage at W/S 275. -In W. Africa, Sun has fixed M/T «Olympic Flair» for 130,000 tons of cargo, loading Feb. 25, discharging USAC, at W/S 162.5. DRY CARGO The clear sailing of prompt Panamaxes in the East leaves room for an improvement in rates. Several charterers have entered into the market for short T/C periods with ideas about 12,000 daily. -Atlantic remains flat with available tonnage. Oldendorff has fixed M/V «Carol,» 75,608 dwt, built 1999, delivery US Gulf for a trip to Kosichang, at USD 11,800 daily. -Good supply of fresh cargoes for Handies/Handymaxes, especially out of S. America. -On Panamaxes in Far East, Mol Navix has fixed M/V «Sea Guardian,» 75,200 dwt, built 1999, delivery Australia Feb. 8-10, redelivery Japan, at USD 11,000 daily. -In Atlantic, Cargill has fixed M/V «Amalia,» 75,100 dwt, built 2000, delivery 15-20 Feb. Brazil for 2-leg trip via Argentina, redelivery UKC, at USD 11,750 daily. -On smaller sizes, Mur has fixed M/V «Pacific Embolden,» 43,396 dwt, built 1993, delivery Muscat beg. Feb. trip via S. Africa, redelivery Far East at USD 9,850 daily.