ECONOMY

Shipping Report

TANKERS Another quiet start, with most markets untested. – Recent fixtures of modern Aframaxes in the N. Sea are hovering around W/S 225, while in the Med. W/S 175. – In Caribs, the 70,000 tons of round voyages are fixed at W/S 275. – W. Africa on Suezmaxes has shown a number of cargoes with destination US Gulf/USAC and Europe too. – Sun for 130,000 tons of cargo, loading March 4, discharging USAC, has fixed M/T «Knock Dun» at W/S 192.5 while CSSA for same cargo, loading Feb. 29, discharging UKC, has fixed M/T «Aegean Eagle» at W/S 185. – On VLCCs out of Arabian Gulf, Petrobras for 275,000 tons of cargo, loading March 4, discharging Brazil, has fixed Tankers tonnage at W/S 132.5, while Formosa has fixed M/T «C. Trust» for 260,000 tons of cargo, loading March 4, discharging Taiwan, at W/S 165. – In the Med., Repsol for 80,000 tons of cargo, loading Feb. 17 Syria, discharging Med., has fixed M/T «Desh Rakshak» at W/S 175. – In the Cont., Preem has fixed M/T «Bravery» for 80,000 tons of cargo, loading Feb. 23 Denmark, discharging Sweden, at W/S 220. – In Caribs, Valero for 70,000 tons of cargo, loading Feb. 15 East Coast Mexico, discharging US Gulf, has fixed M/T «Framura» at W/S 275. DRY CARGO Capesize rates have dipped for tonnage, mainly in the East, with a shortage of end Feb-early March business. Charterers are talking lower rates due to lack of adequate inquiry, and receiving interest from shipowners’ side. – However, period rates remain strong with Nyk having fixed the newbuilding M/V «Mineral Kiwi,» 171,999 dwt, delivery end March-beg. April for 3 years’ trading at USD 53,500 daily. – On Panamaxes, period rates remain strong with M/V «Petka,» 75,460 dwt, built 1994, been fixed by Ugland, delivery Germany for 12-14 months’ trading, at USD 49,500 daily. – In Far East and on Australian round voyages, Noble with delivery/redelivery Japan has fixed M/V «Jin Pu Hai,» 69,902 dwt, built 1996, at USD 42,500 daily. – On Handymax and in the Far East, Panocean has fixed M/V «Arhimidis Sb,» 45,329 dwt, built 1995, delivery Red Sea end Feb., trip via Black Sea, redelivery Far East, at USD 38,000 daily, while Glencore has fixed M/V «Sankuru,» 28,075 dwt, built 2000, delivery Feb. 15-20 Belgium, trip via East Coast S. America, redelivery UKC/Med., at USD 27,000 daily. – On grain cargoes, ADM for 56,000 tons of cargo, loading US Gulf March 10-20, discharging Taiwan, has fixed Bunge tonnage at USD 68.00 per ton with 10,000 tons load and 4,000 tons discharge.