ECONOMY

Shipping Report

TANKERS The market for Aframaxes remains quiet in all areas. – In the Med., the W/S 240 levels, expected to fall further, are untested as yet. Charterers are refusing to enter the market, trying to take advantage of the ample supply of tonnage. – In the Cont., latest rates for 80,000-ton cargoes are W/S 225 and for 100,000 tons out of Baltic, W/S 230. – Caribs seeing minor inquiry, while 70,000-ton cargo liftings are fixed at W/S 265-270. – Suezmax rates seem to have bottomed out in W. Africa and N. Sea. Sun has fixed M/T «Zallaq» for 130,000 tons of cargo, loading Feb. 27, discharging USAC, at W/S 187.5, while in Cont. Alpine has fixed M/T «Venetia» for 135,000 tons of cargo, loading Feb. 17 UK, discharging US Gulf, at W/S 187.5. – Firmer conditions for VLCCs out of Arabian Gulf, with latest fixtures at W/S 170 and W/S 130 East and West respectively. – In the Med., OMV for 80,000 tons of cargo, loading Feb. 10-11 Libya, discharging UKC/Med., has fixed M/T «Arafura Sea2» at W/S 240. – In the Cont., Koch for 80,000 tons of cargo, loading Feb. 15 Baltic, discharging US Gulf, has fixed M/T «Kyeema Spirit» at W/S 305. – In Caribs, Stusco for 70,000 tons of cargo, loading mid-Feb. East Coast Mexico, discharging US Gulf, has fixed M/T «Colombia Spirit» at W/S 272.5. – In W. Africa, Sun for 130,000 tons of cargo, loading Feb. 25, discharging USAC / US Gulf, has fixed M/T «Sea Star» at W/S 188.5. – In Arabian Gulf, CSSA has fixed M/T «Front Comanche» for 280,000 tons of cargo, loading March 3, discharging UKC, at W/S 135. DRY CARGO The Atlantic capers market remains very strong. Hanjin has fixed M/V «Pacific Prosperity,» 179,385 dwt, built 1998, delivery Italy, trip via Brazil, redelivery Far East, at USD 112,00 daily. – Sluggish day for Panamaxes with some early ships in the Atlantic in ballast facing limited trading opportunities. – Spot trading in the East has very little also to show with just a handful ofnew business been quoted. – In the Atlantic, Armada has fixed M/V «Alescabalo,» 70,402 dwt, built 1990, delivery UK, trip via Baltic, redelivery UKC, at USD 44,500 daily. – On T/C periods, Panocean has fixed M/V «Tai Promotion,» 77,000 dwt, delivery Taiwan Feb. 5-15 for 3-5 months’ trading at USD 53,000 daily. – Handymax rates, particularly on period, continued to rise. M/V «Ocean Emperor,» 53,054 dwt, built 2002, delivery mid-Feb. Malaysia for 1 year’s trading, was fixed at USD 39,500 daily. – In the Far East, M/V «Frontier Angel,» 52,200 dwt, built 2001, delivery mid.-Feb. India, redelivery Far East, was fixed at USD 38,500 daily. – In Atlantic Matador shipping has fixed M/V «Yong Huan,» 74,500 dwt, built 2000, delivery US Gulf Feb. 10-15, redelivery Taiwan, at USD 46,000 daily and USD 800,000 ballast bonus. – On smaller sizes, IVS has fixed M/V «Yenisei,» 37,178 dwt, built 1985, delivery India Feb. 8-10, trip via S. Africa, redelivery UKC, at USD 21,000 daily. – On ore cargoes, Arcelor has fixed M/V «Amira» for 70,000 tons of cargo loading Brazil Feb. 15-25, discharging France, at USD 26.00 per ton with 4 days all purposes.