ECONOMY

Shipping Report

TANKERS Steady conditions for VLCCs, with the latest fixtures still at W/S 140-145 for destinations East. – Suezmaxes out of North Sea for transatlantic voyages at W/S 280, while Med. remains around W/S 300 ex-Novorossisk. – Arabian Gulf rates for Suezmax cargoes are softening, with about W/S 200 East and W/S 180 West. – West Africa remains quiet with limited new inquiry. – Aframaxes stable in the Med., with the latest fixtures around W/S 300-315 for prompt positions, while North Sea is still hovering around W/S 225 for 80,000-tons round-trip voyages. – In Caribs, Conoco has failed the three vessels on subs at W/S 300. The latest fixtures are at W/S 275-285, with Citgo having fixed M/T «Genmar Boss,» loading February 10, discharging US Gulf, at W/S 285. – In the Med., Tupras for 80,000 tons of cargo, loading February 7 Syria, discharging Turkey, has fixed M/T «Good Hope» at W/S 315. – In the Cont., BP has fixed M/T «Overseas Fran» for 80,000 tons of cargo, loading February 4, Norway, discharging UKC, at W/S 225. – In Caribs, Conoco has fixed M/T «Olympic Sponsor» for 70,000 tons of cargo, loading January 29, discharging US Gulf, at W/S 270. DRY CARGO Unchanged market, with Caper rates declining, while activity in Panamaxes remains strong in both areas. – On Panamaxes in the Far East, Kline has fixed M/V «Cinzia D’Amato» 74,717 dwt, built 2000, delivery end-January Japan for Australian round-trip voyage at USD 43,000 daily. – In the Atlantic, Cargill has fixed M/V «Adriatica Graeca,» 74,133 dwt, built 2002, delivery Passero end-January for round-trip voyage via East Coast South America at USD 43,000 daily. – On smaller sizes, EEC has fixed M/V «Golden Bay,» 25,599 dwt, built 1982, delivery end January Canakkale via Black Sea, redelivery Far East, at USD 30,000 daily. – On coal cargoes, BHP Billiton has fixed M/V «Lowlands Trader» for 150,000 tons of cargo, loading Australia February 16-29, discharging Rotterdam at USD 35.00 per ton with 50,000-ton load and 25,000 tons discharge.