ECONOMY

Shipping Report

TANKERS Even firmer rates in the Med., with more than 40 vessels waiting to transit the Bosphorous/Dardanelles. – Latest fixtures at W/S 320, while Cont. is negotiated around W/S 260. – Caribs still firm, with the 70,000-ton cargo liftings fixed at W/S 310 and 130,000 tons of cargoes at W/S 210. – W. Africa still firm, with rates around W/S 190-200 levels for US Gulf / USAC and Cont. destinations. – In the N. Sea, CSSA for 135,000 tons of cargo, loading March 9, discharging Med., has fixed M/T «Seagrace» at W/S 190. – In the Med., Repsol has fixed M/T «Iran Amol» for 80,000 tons of cargo, loading beg. March Algeria, discharging Spain, at W/S 320. – In the Cont., Chevtex for 80,000 tons of cargo, loading March 6 UK, discharging UKC, has fixed Lundqvist tonnage at W/S 255. – In Caribs, Blanchard for 130,000 tons of cargo, loading March 1 East Coast Mexico, discharging US Gulf, has fixed M/T «Crude Traveller» at W/S 210. – 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 Capesize freight rates still firm, with good demand East and West. Chinese for 160,000 tons ore, loading Australia March 1-10, discharging China, have fixed M/V «Cic Pride» at USD 7.10 per ton with 2 days’ load and 25,000 tons’ discharging, while Coeclerici for 150,000 tons of coal, loading Colombia March 5-13, discharging Rotterdam, has fixed M/V «Papa» at USD 8.80 per ton with 50,000 tons’ load and 25,000 tons’ discharge. – On Panamaxes, more talk than action, while focus for short period T/C employments still exists. – Pan Ocean in the Atlantic has fixed M/V «Avalon,» 73,080 dwt, built 1996, delivery US Gulf end Feb., redelivery Far East, at USD 13,000 daily and 300,000 ballast bonus. – In the East, PCL has fixed M/V «Galateia,» 71,504 dwt, built ’93, delivery Malaysia March 7-8, trip via S. Africa, redelivery UKC/Med., at USD 10,500 daily. – In Atlantic, ABT has fixed M/V «Amolyntos,» 60,158 dwt, built ’82, delivery end Feb. Rotterdam for 3-5 months, USD 8,800 daily. – On smaller sizes, Noble has fixed M/V «Little Annou,» 44,874 dwt, built ’94, delivery Hawai end Feb – beg. March, redelivery Far East, at USD 12,000 daily.