ECONOMY

Shipping Report

TANKERS Very firm market conditions with VLCCs even out of W. Africa having been fixed at W/S 160 with destination US Gulf. – Chevtex for 260,000 tons of cargo, loading March 13, discharging US Gulf, has fixed M/T «Olympic Loyalty» at W/S 150. – Out of the Arabian Gulf, rates are above W/S 140 with destination East and W/S 115-120 with destination West. Chevtex has fixed M/T «Astipalaia» for 280,000 tons of cargo, loading March 15 discharging US Gulf – USWC, at W/S 115 / 122.5 respectively. – Aframaxes in good demand, with rates in the Med. at W/S 300 for normal cross voyages, while Chevtex with delivery Feb. 26 Novorossisk, discharging Med., has fixed M/T «Olympic Serenity» at W/S 340. – Cont. at W/S 240, with BP having fixed M/T «Vancouver Spirit» for 80,000 tons of cargo, loading Feb. 27 Norway, discharging UKC, at W/S 245. – In Caribs, Citgo for 130,000 tons of cargo, loading Feb. 26, discharging US Gulf, has fixed M/T «Voyager» at W/S 205. – In W. Africa, Alpine has fixed M/T «Front Lord» for 260,000 tons of cargo, loading March 17, discharging US Gulf – Far East, at W/S 130 – W/S 110 respectively. DRY CARGO Capers is in good demand in all areas. Rates are moving upward as well as their particular index. Last Friday their index was totaling 2,275, having gained 41 points. – Noble with delivery Rotterdam Feb. 22-25, trip via Brazil, redelivery Far East, has fixed M/V «Sa Fortious,» 172,100 dwt, built 2001, at USD 28,500 daily while Kline has fixed M/V «Heythrop,» 165,729 dwt, built 1996, delivery UK Feb. 15-20, trip via Brazil, redelivery Japan, at USD 26,000 daily. – Stable freights in Far East with Mol-Navix having fixed M/V «Angelic Glory,» 75,000 dwt, built 2002, delivery Japan Feb. 20-25, trip via Australia, redelivery Japan, at USD 13,250 daily. – Same conditions in the Atlantic, with Keoyang in the traditional grain route US Gulf / Japan having fixed Bottigleri tonnage for 54,000 tons of cargo, loading end Feb.-beg. March, at USD 27.40 per ton with 11 days all purposes. – In the Atlantic, Wilmar has fixed M/V «Captain Diamantis,» 74,700 dwt, built 2001, delivery UK Feb. 17-20, trip via East Coast S. America, redelivery Far East, at USD 13,250 daily. – On smaller sizes, Uniwell has fixed M/V «Doric Spirit,» 52,428 dwt, built 2001, delivery East Coast India March 11-18, redelivery China, at USD 12,000 daily.