ECONOMY

Shipping Report

TANKERS Weaker conditions for VLCCs out of Arabian Gulf, with S. Oil having fixed M/T «Okinoshima Maru» for 258,000 tons of cargo, loading Feb. 10, discharging S. Korea, at W/S 135, while rates for Suezmaxes out of W. Africa are firming. – Sun has fixed Genmar Tonnage for 130,000 tons of cargo, loading Feb. 13, discharging USAC, at W/S 269. – Stable conditions for Aframaxes in all areas. – The normal round-trip voyages in the Med. are fixed at W/S 270-280. Tamoil has fixed M/T «Four Island» for 80,000 tons of cargo loading Jan. 28 Libya, discharging Med., at W/S 275. – In the N. Sea, BHP has fixed M/T «Nordic Yukon» for 80,000 tons of cargo, loading Feb. 1, discharging UKC, at W/S 245, while in Caribs Valero for 70,000 tons of cargo has fixed tonnage at W/S 402.5. – In the Med., Tupras for 80,000 tons of cargo, loading Jan. 28, discharging Turkey, has fixed M/T «Apageon» at W/S 255. – In the Cont., Eni has fixed M/T «Maria Tsakos» for 80,000 tons of cargo, loading Feb. 3 Norway, discharging Med., at W/S 220. – In Caribs, Valero for 70,000 tons of cargo, loading Jan. 28 East Coast Mexico, discharging US Gulf, has fixed M/T «Portel» at W/S 395. – In W. Africa, Vitol for 130,000 tons of cargo, loading Jan. 29, discharging US Gulf, has fixed alliance tonnage at W/S 275. DRY CARGO Caper rates remain firm in both areas. – In the Atlantic, Pioneer has fixed M/V «Cecilia,» 172,000 dwt, built 1999, delivery Jan. 21 UK, trip via Norway, redelivery China, at USD 105,000 daily, while in Far East Mol Navix has fixed M/V «Indomitable,» 149,349 dwt, built 1990, delivery Jan. 21-25 China, trip via Australia, redelivery Japan, at USD 88,000 daily. – The picture is similar for Panamaxes. Round trips in Far East are settled around USD 45,000 daily, while in Atlantic they are at a low USD 40,000 daily. – There is also strong demand for T/C periods, with M/V «Top Knight,» 73,941 dwt, built 1999, having been fixed at USD 44,000 daily for 12 months’ trading, with very little other information having emerged. – On Handy/Handymaxes, rates remain strong for all sizes. Dreyfus has fixed M/V «Springwood,» 37,614 dwt, built 1984, delivery France Jan. 20-23, trip via East Coast S. America, redelivery UKC, at USD 25,000 daily, while Cargill has fixed M/V «Spare Lupus,» 47,375 dwt, built 1998, dellivery Jan. 17-18 Japan, for 12 months’ trading at USD 28,000 daily. – On coal cargoes, AEP has fixed M/V «Kwk Exemplar» for 150,000 tons of cargo, loading Richards Bay Feb. 13-15, discharging Rotterdam, at USD 29.00 per ton with 2-day load and 25,000 tons discharge.