ECONOMY

Shipping Report

TANKERS A sharp movement was noticed yesterday on VLCC rates. Cargoes of 260-275,000 tons were fixed at W/S 130-132.5, while the day before yesterday they were fixed at W/S 100-102.5. – Exxonmobil has fixed M/T «Antiparos» for 260,000 tons of cargo loading February 1 discharging Japan at W/S 130, while S. Oil for 275,000 tons of cargo, loading February 4, discharging Korea, has fixed M/T «Astro Libra» at W/S 132.5. – Quieter conditions for Suezmaxes out of West Africa, while in the North Sea Navion has fixed M/T «Isi Olive» for 135,000 tons of cargo, loading February 4, discharging Med., at W/S 162.5. – On Aframax Med., there is little activity out of Black Sea. However, cross-Med. cargoes are still fixed at W/S 270. – In the North Sea, Repsol has fixed M/T «Sintra» for 80,000 tons of cargo, loading January 21, discharging Spain, at W/S 235. – Caribs rates remain firm, with Valero having fixed M/T «Portel» for 70,000 tons of cargo, loading January 28 East Coast Mexico, discharging US Gulf, at W/S 395. DRY CARGO Very firm rates still apply for Capers, with the market talking USD 110,000 daily for trips Atlantic/Far East. – The picture is similar in the Far East, with the trips via Richards Bay to Cont. showing daily income of about USD 85,000. – The rates for Panamaxes remain very firm in both areas. – Cargill in Atlantic has fixed M/V «Shen Nong Feng,» 74,000 dwt, built 2002, delivery UK, trip via US Gulf, redelivery Egypt, at USD 46,200 daily, while in Far East M/V «Kavo Sapphire,» 75,574 dwt, built 1999, was fixed at USD 50,000 daily for Australian round voyage, delivery/redelivery Japan. – Pan Ocean has fixed M/V «China Joy,» 70,044 dwt, built 1994, delivery Brazil January 20, redelivery Far East, at USD 42,000 daily and USD 725,000 ballast bonus. – On smaller sizes, Pan Ocean has fixed M/V «Pacific Dolphin,» 49,047 dwt, built 49,047 dwt, built 1996, delivery China January 10-15, redelivery Far East, at USD 32,000 daily.