ECONOMY

Shipping Report

TANKERS Aframax market in the Med. remains quiet, with ample tonnage for early Feb. loading dates. OMV out of Libya with destination Trieste has fixed tanker Pacific tonnage at W/S 240. – N. Sea market seems to be moving in the same direction, with the last Conoco’s fixture for 80,000 tons of cargo loading Feb. 9 Norway, discharging UK, at W/S 255. – Not a lot in Caribs either, with Valero having fixed AET tonnage for 70,000 tons of cargo loading Feb. 7 East Coast Mexico, discharging US Gulf, at W/S 270, while Stasco has fixed M/T «Genmar Ajax» for same cargo loading Feb. 15, also discharging US Gulf, at W/S 277.5. – Suezmaxes very weak in the Med. and at W/S 180-190, while in W. Africa Suezmax tonnage is building up having to compete with the VLCCs in the area which are now fixed at W/S 185 with destination US Gulf. – VLCCs out of Arabian Gulf steady, with Jomo having fixed M/T «New Circassia» for 263,000 tons of cargo loading March 4, discharging Japan, at W/S 155 while SSS has fixed M/T «Kaimon» for 255,000 tons of cargo loading March 4-6, with same destination, at W/S 150. – In the Med., Repsol for 80,000 tons of cargo loading Feb. 4 Libya, discharging Spain, has fixed M/T «Panagia Armata» at W/S 310. – In the Cont., Preem has fixed M/T «Ragnhild Knutsen» for 80,000 tons of cargo loading Feb. 16 Denmark, discharging Sweden, at W/S 227.5. – In W. Africa, Vitol has fixed M/T «Genmar Sky» for 130,000 tons of cargo loading Feb. 25, discharging US Gulf, at W/S 195. – In Arabian Gulf, Zhenrong has fixed M/T «Hyundai Star» for 270,000 tons of cargo loading March 4, discharging China, at W/S 162.5. DRY CARGO Capers market remains strong especially for the Atlantic front hauls. Hanjin has fixed M/V «Cape Mars,» 175,882 dwt, built 2003, delivery Israel, trip via Brazil, redelivery S. Korea, at USD 115,000 daily. – In Far East, Japanese have fixed M/V «Katerina V,» 171,995 dwt, built 2004, delivery Korea mid-Feb., trip via Australia, redelivery China, at USD 82,500 daily. – On Panamaxes, period rates continue to outstrip the spot market, especially in the East, while very little is reported on single trips. – Mol Navix has fixed M/V «Darya Lok,» 74,500 dwt, delivery Korea 15 March / 15 April, for 2 years’ trading at USD 35,500 daily, while M/V «Vassos,» 76,000 dwt, built 2004, delivery Japan Feb. 3-10 for 3-5 months, was fixed at USD 54,000 daily. – Rates remain very strong for Handymax in Atlantic. Hugo Neu has fixed M/V «Prairie Sky,» 45,031 dwt, built 1995, delivery USAC 10-20 Feb., redelivery Far East, at USD 50,000 daily. – On coal cargoes, Cargill for 160,000 tons of cargo loading S. Africa end Feb.-beg. March, has fixed M/V «Formosabulk Clement» at USD 28.00 per ton with 2 days load and 25,000 days discharge.