ECONOMY

Shipping Report

TANKERS Fewer VLCC cargoes out of Arabian Gulf. Rates are holding at rates of around W/S 140 for destinations East and around W/S 117.5 for destinations West. – Shell has fixed M/T «Dynamic City» for 229,000 tons of cargo, loading February 24, discharging Far East, at W/S 145. – Weaker conditions for Suezmaxes, with tonnage-building positions for end February dates for West Africa loaders. – In the Mediterranean, the latest fixtures are at W/S 240, while in West Africa they stand at W/S 260. – Aframaxes are holding at stable rates in the Mediterranean mainly because of weather delays in the Bosporus strait, while in Cont., rates are falling, with the 80,000-ton cargoes being fixed at W/S 225. – Caribs seem to have bottomed out, with the 70,000-ton cargo liftings being fixed at W/S 227.5 – 232.5. – In the Med., Alpine for 80,000 tons of cargo, loading February 25, Black Sea, discharging UKC/Med., has fixed M/T «Paula Maersk» at W/S 307.5. – In the Cont., Emerald for 80,000 tons of cargo, loading February 15, North Sea, discharging USA, has fixed M/T «Mersey» at W/S 295. – In Caribs, Valero for 70,000 tons of cargo, loading February 3, discharging US Gulf, has fixed M/T «Eagle Subaru» at W/S 232.5. DRY CARGO Very little activity for Capers, but front hauls still being fixed at USD 105,000 daily with destinations East. – Round-trip voyages in the Pacific are hovering around USD 75,000 daily. Transfield has fixed M/V «Marine Hunter,» 164,891 dwt, built 1984, delivery China February 10-12, for W. Australian round-trip at USD 74,000 daily. – On Panamaxes, very little fresh activity in the East, while in the Atlantic, the expectation of improved single-trip rates remains to be seen. – On T/C periods, Coeclerici has fixed M/V «Oceanis,» 75,211 dwt, built 2001, delivery February 1-5 China for 4-6 months’ trading at USD 48,500 daily, while in the Atlantic, M/V «Jin Kang,» 74,204 dwt, built 2002, delivery Passero February 14-29 for 10-11 months’ trading was fixed at USD 45,000 daily. – In the Atlantic, NNC has fixed M/V «Ruby Crest,» 73,330 dwt, built 1997, delivery US Gulf February 1-5, redelivery Passero, at USD 43,500 daily and USD 620,000 ballast bonus. – On smaller sizes, Shadab has fixed M/V «Oriental,» 45,338 dwt, built 1997, delivery Indonesia end January, trip via Australia, redelivery Pakistan, at USD 29,000 daily. – On coal cargoes, Keoyang has fixed M/V «An Angel Solidarity» for 140,000 tons of cargo, loading Australia February 7-10, discharging Ireland, at USD 39.70 per ton with 40,000-ton load and 25,000 tons discharge.