ECONOMY

Shipping Report

TANKERS A quiet start to the week, with the market taking a break after securing tonnage with Jan. dates. – In the N. Sea, Hydro has fixed M/T «Jag Laxmi» for 80,000 tons of cargo, loading end Jan. West Coast Norway, discharging UKC, at W/S 255, while in the Med., Erg has fixed M/T «Arafura Sea» for same cargo, loading Feb. 1 Libya, discharging Italy, at W/S 310. – Stable conditions in Caribs, with Atmi having fixed M/T «Genmar Ajax» for 70,000 tons of cargo, loading Jan. 30, discharging US Gulf, at W/S 387.5. – On VLCCs, Stasco out of Arabian Gulf has fixed Iran tonnage for 260,000 tons of cargo, loading Feb. 8, discharging Far East, at W/S 145. – Firmer conditions on Suezmaxes out of the Med. and W. Africa. In the Med., Chevtex for 135,000 tons of cargo, loading Feb. 21, discharging UKC/Med., has fixed M/T «Four Sun» at W/S 375, while in W. Africa, Sun has fixed M/T «Genmar Ariston» for 130,000 tons of cargo, loading Feb. 20, discharging USAC, at W/S 300. – In the Med., Petroval for 80,000 tons of cargo, loading Feb. 8 Black Sea, discharging Med., has fixed Centrofin tonnage at W/S 260. – In the Cont., Lukoil has fixed M/T «Evita» for 80,000 tons of cargo, loading Jan. 24 Poland, discharging UKC, at W/S 250. – In Caribs, Atmi has fixed M/T «Genmar Ajax» for 70,000 tons of cargo, loading Jan. 30, discharging US Gulf, at W/S 387.5. – In W. Africa, Valero for 130,000 tons of cargo, loading Feb. 17, discharging East Coast Canada, has fixed M/T «Nandu» at W/S 285. – In Arabian Gulf, SK for 270,000 tons of cargo, loading Feb. 5, discharging Korea, has fixed M/T «Apollonia» at W/S 160. DRY CARGO Market remains very firm in all sizes and areas. – On Capers, interest in period fixtures remains very strong. M/V «Bosporus» in the East has been fixed by Sanko for delivery China for 36-38 months’ trading at USD 45,000 daily. – In the Atlantic, M/V «Hebei Dragon,» 149,722 dwt, has allegedly been fixed and failed with Worldlink at USD 110,000 daily, levels that, however, represent the strength of the market. – Similar is the picture with Panamaxes. Cargill has fixed M/V «Danae,» 75,206 dwt, built 2001, delivery Feb. 8-15 Spain, for 5-7 months’ trading at USD 50,000 daily, while in Far East, NNC has fixed M/V «Antzouletta,» 75,122 dwt, built 2000, delivery Taiwan Jan. 19-21, trip via Australia, redelivery Aden, at USD 43,000 daily. – On smaller sizes, M/V «Alam Mesra,» 46,446 dwt, built 2000, delivery USAC Jan. 23-24, redelivery Japan, was fixed at USD 27,000 daily and USD 475,000 ballast bonus.