ECONOMY

Shipping Report

TANKERS Quieter conditions on Aframaxes in the Med./Cont. and on Caribs. – In the Med., the 80,000-ton cargoes are being fixed at W/S 310, and at W/S 250-260 in the North Sea. – In Caribs, the latest fixtures are holding around W/S 370. Conoco has fixed M/T «Rich Duchess» for 70,000 tons of cargo, loading January 24 East Coast Mexico, discharging US Gulf, at W/S 375. – VLCCs out of Arabian Gulf steady with signs of improvement. S. Oil has fixed M/T «Napa» for 270,000 tons of cargo, loading February 30, discharging South Korea, at W/S 140, while Chevtex for same size cargo, discharging US Gulf, has been fixed at W/S 122.5. – In West Africa, Suezmaxes are being fixed around W/S 300, with loading dates up to January 20. On later dates, it seems easier with Eni having fixed M/T «Zalaaq» for 130,000 tons of cargo, loading February 20, discharging Italy, at W/S 270. – In the Med., Hess for 90,000 tons of cargo, loading February 2 Algeria, discharging USAC, has fixed M/T «Sinova» at W/S 260. – In the Cont., Stasco has fixed Lundqvist tonnage for 80,000 tons of cargo, loading end-January East Coast UK, discharging UKC, at W/S 260. – In Arabian Gulf, Marathon has fixed M/T «Neptune» for 275,000 tons of cargo, loading February 18, discharging US Gulf, at W/S 117.5. DRY CARGO There are easier rates for the Capers in the Far East due to the Chinese New Year. Activity is very limited, while tonnage remains tight due to congestion in many ports. – In the Atlantic, Elcano has fixed M/V «Successor,» 170,603 dwt, built 1985, delivery Spain February 15-16, for round-trip voyage via Nouadhibou at USD 99,000 daily. – Quieter conditions on Panamaxes, with their index on Thursday having lost 60 points, totaling 5,138, however interest in T/C periods is still strong. – D’Amato has fixed M/V «Orsolina Bottiglieri,» 75,300 dwt, built 2001, delivery February 1-5 Belgium for 6-8 months’ trading at USD 51,000 daily. – On Handy/Handymaxes, strong rates still apply. Noble has fixed M/V «Appenzell,» 46,492 dwt, built 2001, delivery India end-January, redelivery Far East, at USD 32,000 daily. – On coal cargoes, Duferco for 45,000 tons of cargo, loading January 25-30 West Coast Canada, discharging Italy, has paid USD 42.00 per ton with two-day load and 3 days’ discharge.