ECONOMY

Shipping Report

TANKERS VLCCs out of Arabian Gulf with destinations east are being fixed at W/S 100-102.5, while Chevtex from the same area with destination S. Africa has fixed front tonnage for 130,000 tons of cargo at W/S 185. – Suezmaxes are firm in the Med., with rates still at W/S 350-355 out of Black Sea, while W. Africa market stable, with 130,000-ton cargoes being fixed at W/S 220 with destination US. – Emerald in the N. Sea has fixed M/T «Tromso Confidence» for 135,000 tons of cargo, loading Jan. 29, discharging USAC, at W/S 222.5. – Aframaxes quieter in the Med. with prompt modern tonnage. Rates at W/S 300 out of Black Sea and at W/S 240 for normal round-trip voyages. – Cont. stable at W/S 225-230, while in Caribs Stasco has fixed M/T «Champion» for 70,000 tons of cargo, loading Jan. 22, discharging US Gulf, at W/S 397.5. – In the Med., Stasco for 80,000 tons of cargo, loading Jan. 25, discharging USAC, has fixed M/T «Black Sea» at W/S 280. – In the Cont., Exxonmobil for 80,000 tons of cargo, loading Jan. 20, UK, discharging UKC, has fixed Lundqvist tonnage at W/S 232.5. – In W. Africa and on VLCCs, Concord has fixed M/T «Watban» for 260,000 tons of cargo, loading Feb. 2, discharging Indonesia at W/S 100. – In Arabian Gulf, Zhenrong has fixed M/T «Iran Najm» for 270,000 tons of cargo, loading Jan. 28, discharging China, at W/S 97.5. DRY CARGO Levels above USD 100,000 daily are finally being agreed to for fronthauls. Sinochart has fixed M/V «Cape Eagle,» 161,475 dwt, built 1993, delivery Cape Passero, at the abovementioned levels. – In the East, rates seem to be moving fast, as most early ships are covered. Charterers still chasing owners for period cover for ships not due out of yards till late summer. – Transfield in the East has fixed M/V «Kapadokia,» 141,475 dwt, built 1981, delivery China Jan. 11-16, trip via W. Australia, at USD 65,000 daily. – Rates on Panamaxes for round-trip voyages in Atlantic and Far East are almost at parity. The round-trip voyages are being fixed at USD 40,000 daily. – ABT has fixed M/V «Pole,» 73,049 dwt, built 1997, delivery mid-Jan. Spain for two legs, redelivery Atlantic, at USD 40,000 daily, while M/V «Bunga Saga Tujuh,» 73,220 dwt, built 1998, delivery Japan mid-Jan., was fixed at same levels. – On Panamax in Far East, Oldendorff has fixed M/V «Rodon Amarandon,» 74,090 dwt, built 2001, delivery Indonesia mid-Jan. for 2-4 months’ trading at USD 46,000 daily. – In Atlantic, Ugland has fixed M/V «Alcyon,» 75,247 dwt, built 2001, delivery Italy mid-Jan., trip via Venezuela, redelivery UKC/Med., at USD 39,250 daily. – On smaller sizes, Seals Line has fixed M/V «Atlantic Fortune,» 44,820 dwt, built 1994, delivery UKC Jan. 13-14, redelivery Far East, at USD 30,000 daily.