ECONOMY

Shipping Report

TANKERS The supply of modern Aframax tonnage in the Cont. appears tighter with rates from W/S 180 moving to W/S 185, while the Med. still provides enough cargoes to maintain present levels. – In the Cont., CSSA has fixed M/T «Kuban» for 80,000 tons of cargo, loading Feb. 21 N. Sea, discharging UKC, at W/S 185. – In the Med., Sibneft for 80,000 tons of cargo, loading Feb. 25 Russia, discharging Med., has fixed M/T «Minerva Anna» at W/S 290. – Caribs remain firm with the 70,000-ton cargo liftings being fixed at W/S 300. – Good demand for Suezmaxes out of W. Africa, with Sun having fixed M/T «Front Pride» for 130,000 tons of cargo, loading March 10, discharging USAC at W/S 170, although VLCCs are starting to take the advantage of the present levels. – In the Cont., BP for 80,000 tons of cargo, loading Feb. 20 for UKC round-trip voyage, has fixed M/T «Eagle Atlanta» at W/S 180, while Hydro for same cargo quantity, loading Feb. 24 Norway, discharging UKC, has fixed M/T «New Ace» at W/S 185. – In Caribs, Atmi has fixed M/T «Bering Sea» for 70,000 tons of cargo, loading Feb. 28 Venezuela, discharging US Gulf, at W/S 300. – In W. Africa, Petrogal for 130,000 tons of cargo, loading Feb. 26, discharging Portugal has fixed M/T «Donat» at W/S 145. DRY CARGO Rates for Handymaxes out of US Gulf remain unchanged. Armada has fixed M/V «Rosina Topic,» 45,251 dwt, built 2000, delivery mid-Feb. New Orleans for 2-3 legs, redelivery Atlantic, at USD 11,000 daily, while in the East PCL has fixed M/V «Syriotissa,» 45,470 dwt, built 1986, delivery Australia, redelivery Far East, at USD 8,000 daily. – Panamaxes stable in all areas, with their index moving just two points upward. – Capers very firm, especially in Far East, with a number of freshly quoted orders mainly from Chinese charterers. Their index moved upward by 46 points totaling 2136. Eastern Rich has fixed M/V «Dynasty» for 130,000 tons of ore, loading Feb. 25-28 Australia, discharging China, at USD 7.00 per ton with 2-day load and 15,000 tons discharge. – On Panamaxes in Far East, Mol Navix has fixed M/V «Angelic Glory,» 74,500 dwt, built 2002, delivery/redelivery Japan Feb. 20-25, trip via Australia, at USD 13,500 daily. – In Atlantic, PCL has fixed M/V «An Angel Enosis,» 75,464 dwt, built 1995, delivery S. Africa Feb. 20-25, redelivery UKC, at USD 11,500 daily and USD 180,000 ballast bonus. – On grain cargoes, Conagra for 56,000 tons of cargo, loading US Gulf Feb. 10-15, discharging Taiwan, has fixed M/V «Christina Venture» at USD 26.00 per ton with 10,000-ton load and 4,000-ton discharge.