ECONOMY

Shipping Report

TANKERS Lesser inquiry with rates remaining stable. – Cont. market expected to firm, while Med. maintaining present levels mainly due to adverse weather conditions. – Caribs still very firm with 70,000-ton cargo liftings being fixed at W/S 310. – Suezmax market unchanged, with CSSA having fixed M/T «Sea Triumph» for 130,000 tons of cargo, loading March 7, discharging UKC/Med., at W/S 185. – In the Med., Conoco has fixed M/T «North Pacific» for 80,000 tons of cargo, loading Feb. 26 Syria, discharging Med., at W/S 325. – In the Cont., Repsol for 80,000 tons of cargo, loading March 4 UK, discharging Spain, has fixed M/T «Eliane» at W/S 245. – In Caribs, Valero for 70,000 tons of cargo, loading Feb. 27, discharging USAC, has fixed M/T «Poul Spirit» at W/S 310. – In W. Africa, BP for 130,000 tons of cargo, loading March 13, discharging UKC/Med., has fixed M/T «Inago» at W/S 175. DRY CARGO Most of the activity on Capers is focused on the East with rates firming, while Atlantic still has a significant volume of business to be covered. – Pan Ocean has fixed M/V «Matilde,» 160,013 dwt, built 1997, delivery Rotterdam March 5-6, trip via Brazil, redelivery Far East, at USD 27,000 daily. – Quieter conditions on Panamaxes, with Nopac round-trip voyages in the East expected to slip under USD 12,500 daily for prompt tonnage. – Atlantic has still a number of early ships for fixing, however sentiment for March remains bullish. – On T/C periods, Baumarine has fixed M/V «Pelagia,» 71,741 dwt, built 1995, delivery France Feb. 22-25 for 12 months’ trading at USD 12,150 daily. – In Far East, PCL has fixed M/V «Medi Kobe,» 75,924 dwt, built 2001, delivery Japan Feb. 25-26 for two legs via Canada and S. Africa, redelivery UKC, at USD 12,000 daily. – On smaller sizes, IVS has fixed M/V «Jimilta,» 42,161 dwt, built 1982, delivery S. Africa March 1-8, redelivery UKC, at USD 10,500 daily.