ECONOMY

Shipping Report

TANKERS A quiet start to the week with modern Aframax rates holding in the Cont. at W/S 180 and in the Med. at W/S 260. – Caribs remains firm with the latest fixtures at W/S 300 for 70,000-ton cargo liftings. – Suezmax market in W. Africa after a dip to W/S 140 has revived again for early March dates with Sun fixing M/T «Oliver Jacob» for 130,000 tons of cargo, discharging USAC, at W/S 160. – On VLCCs, the latest rates for 260,000 tons of cargo with destination Japan are at around W/S 80-85. – In the Med., Europet for 80,000 tons of cargo, loading Feb. 25 Black Sea, discharging Med., has fixed M/T «Cerigo» at W/S 190. – In the Cont., Gunvor for 80,000 tons of cargo, loading Feb. 26 Baltic, discharging UKC, has fixed M/T «Futura» at W/S 295. – In Caribs, Premcor for 70,000 tons of cargo, loading Feb. 23, discharging US Gulf, has fixed M/T «Genmar Agamemnon» at W/S 300. DRY CARGO A positive end to the week for Capesizes, as the Baltic Capesize index, registering 34 points, gained to close at 2,059. – Firmer rates being agreed to, with Shinwa having fixed M/V «Tian Yang Hai,» 169,999 dwt, built 1997, delivery China Feb. 20-22, trip via W. Australia, redelivery Japan, at USD 20,750 daily. – On Panamaxes in the East, despite some ships having failed on subject rates, remain firm with very good demand for T/C periods. Swiss Marine has fixed M/V «Itan du Feng,» 74,700 dwt, built 2001, delivery China Feb. 20-22 for 12 months’ trading at USD 12,500 daily. – In Atlantic the focus is only on period tonnage, with Augustea having fixed M/V «Danae,» 75,106 dwt, built 2001, delivery Ghent Feb. 10-12 for 2-3 laden legs at USD 13,000 daily. – On Panamax in Far East, Mol Navix has fixed M/V «Far Eastern Marina,» 73,000 dwt, built 1997, delivery Thailand Feb. 17-20, trip via Indonesia, redelivery Japan, at USD 14,500 daily. – In Atlantic, Hanjin has fixed M/V «Samjohn Liberty,» 74,761 dwt, built 1998, delivery US Gulf Feb. 25-28, redelivery Far East, at USD 12,500 daily. – On smaller sizes, Goldbeam has fixed M/V «Maritime Cuate,» 50,300 dwt, built 2002, delivery USAC Feb. 12-15 for 3-5 month period, at USD 11,000 daily and USD 220,000 ballast bonus. – On ore cargoes, Sinochart has fixed M/V «SG Enterprise» for 180,000 tons of cargo, loading Australia Feb. 18-28, discharging China, at USD 6.10 per ton with 2-day load and 25,000 tons discharge.