ECONOMY

Shipping Report

TANKERS A quiet start to the week with the latest VLCC fixtures at W/S 150-160 with destinations East. – Hyundai has fixed M/T «World Luna» for a cargo of 270,000 tons, loading March 8 Arabian Gulf with destination South Korea at W/S 152.5, while Zhenrong has fixed M/T «Hyundai Star» for same size cargo with destination China at W/S 162.5. – On Suezmaxes, tonnage is building up for West African cargoes, while VLCCs out of the same area are being fixed at W/S 185 with destination US Gulf. – In the North Sea, rates are slipping, with W/S 195 the last rate done for a Transatlantic voyage. – In the Med., latest fixtures are hovering at W/S 300, while out of Arabian Gulf, rates a bit soft, with W/S 180 and W/S 195 for West and East, respectively. – Aframaxes stable in the Med. at W/S 290, while in N. Sea, CSSA has fixed Navion tonnage for 80,000 tons of cargo, loading UK, discharging Cont., at W/S 227.5. – Caribs still pretty quiet, with Chevtex having fixed M/T «Eagle Austin» for 70,000 tons of cargo, loading February 10, East Coast, Mexico, discharging US Gulf at W/S 272.5. – In the Med., Alpine has fixed M/T «St Clemens» for 45,000 tons of cargo, loading February 18, Black Sea, discharging Med., at W/S 430, while Vitol has fixed M/T «Heidmar Brazos» for 55,000 tons of cargo, loading February 8 Banias, discharging USA, at W/S 320. DRY CARGO Rates are firming for Capesizes with good demand also for T/C periods. M/V «Front Breaker,» built 1991, 169,146 dwt, was fixed to Coscobulk at 40,000 USD daily for three years’ trading. – In the Atlantic, Hanjin has fixed M/V «An Angel Destiny,» delivery Rotterdam February 13-15 for a trip via Brazil to South Korea at 110,000 USD daily. – In Far East, M/V «Katerina V,» due ex-yard February 1-2, was fixed on subjects to a Japanese charterer for a round-trip voyage in the area at 82,500 USD daily. – On Panamaxes, rates remain very strong with high rates being discussed and agreed upon. – Rates for Atlantic Panamaxes have jumped significantly. – Hanjin has fixed M/V «Pina Cafiero,» built 2002, 75,688 dwt, delivery Immingham February 10 via US Gulf or EC South America, redelivery Far East, at 55,000 USD daily. – In the East, MC Transport has fixed M/V «Lacerta,» built 1994, 71,862 dwt, delivery Shanghai February 8 via Newcastle (Australia), redelivery Japan, at 41,000 USD daily. – On Handies / Handymaxes, Dreyfus has fixed M/V «Seagate,» built 1989, 28,836 dwt, delivery Rotterdam February 5 via Brazil & Atlantic, redelivery Cape Passero-Canakkale, at 21,500 USD daily, while EEC has fixed M/V «Golden Bay,» built 1982, 25,599 dwt, delivery Odessa via Black Sea, redelivery Singapore-Japan, at 33,000 USD daily.