ECONOMY

Shipping Report

TANKERS Stable conditions for VLCCs with rates around W/S 140 with destination East. – Suezmax market definitely weaker not only in the Med. but in West Africa too. The supply of tonnage is increasing and we expect lower rates than the last W/S 240 runs. – Aframaxes stable in the Med. mainly due to weather delays in the straits while Cont. is weakening further, with the latest fixtures of 80,000-ton cargoes at W/S 225. – Caribs is firming and from W/S 225-227.5, 70,000 tons of cargo liftings are now fixed at W/S 300. CONOCO has fixed AET tonnage, loading February 7 East Coast Mexico, discharging US Gulf, at abovementioned levels. – In the Med., Saras, for 80,000 tons of cargo, loading February 7 Libya, discharging Italy, has fixed M/T «Atlantic Hero» at W/S 315. – In the Cont., BP has fixed M/T «Astro Sirius» for 80,000 tons of cargo, loading February 6 for UKC round voyage, at W/S 225. – On Suezmax, Stasco has fixed M/T «Unicorn» for 135,000 tons of cargo, loading February 6 UK, discharging USAC, at W/S 280. DRY CARGO Capers rates are easing, particularly on the back-haul run. – On the front-haul run, brokers are expecting improvements. However, NYK has fixed M/V «Hebei Dragon,» 148,160 dwt, built 1990, delivery UK, redelivery Japan, at USD 92,500 daily, a rate which is considered low. – Atlantic Panamax market is set to take off with more new business quoting. Owners are already talking USD 45,000 daily for round-voyage rates, and USD 50,000 daily for trips to the East. – D’Amato has fixed M/V «Maria V,» 69,229 dwt, built 1987, delivery Belgium end-January, for two legs at USD 42,500 daily. – Period rates are also firming due to persistent demand from charterers’ side. Suisse Atlantique has fixed M/V «Pearl of Jebel Ali,» 75,214 dwt, built 2002, for 25-27 months’ trading at USD 36,000 daily. – On Handy/Handymax, rates remain strong, with M/V «Clipper Valour,» 34,300 dwt, built 2004, delivery US Gulf, redelivery Med., fixed at USD 40,000 daily. – On Panamax in Far East, Cetragpa has fixed M/V «Navios Orbiter,» 76,000 dwt, delivery Japan February 1-29 for two years’ trading at USD 35,500 daily. – In Atlantic, D’Amato has fixed M/V «Energy Star,» 75,318 dwt, built 2003, delivery Morocco February 17-25, for 18-20 months at USD 50,000 daily for the first 50 days and USD 39,000 for the balance. – On smaller sizes, Mol Navix has fixed M/V «Aghia Eirini,» 45,296 dwt, built 1994, delivery China end-January, trip via Australia, redelivery Japan, at USD 26,000 daily. – On grain cargoes, Armada for 55,000 tons of cargo, loading February 5-14 US Gulf, discharging China, has fixed M/V «APJ Shalin» at USD 60.00 per ton with 10,000-ton load and 5,000 tons discharge.