ECONOMY

Shipping Report

TANKERS The Mediterranean market continues to be extremely quiet, with a number of prompt tonnages. – Erg, loading Sidi Kerir February 19, discharging Italy, has fixed M/T «Moss» at W/S 162.5. – In the Cont., CSSA for 80,000 tons of cargo, loading February 13 East Coast UK, discharging UKC, has fixed M/T «Nordic Svenita» at W/S 225, while BP has fixed M/T «Astro Sirius» for same cargo quantity, loading February 14, discharging Sweden, at same levels. – There are a number of new cargoes in Caribs with rates moving within a range between W/S 280 and W/S 320 depending on the vessels’ age and the requirements of the charterers. – Stusco for 70,000 tons of cargo, loading February 14 East Coast Mexico, discharging USAC, has fixed M/T «Sks Tyne» at W/S 285, while Koch for same cargo quantity, loading February 18 Colombia, discharging US Gulf, has fixed M/T «Regent» at W/S 282.5. – In West Africa and on VLSSs, Vitol for 260,000 tons of cargo, loading March 9, discharging South Korea, has fixed M/T «Astro Chorus» at W/S 110, while on Suezmax Stasco has fixed Alliance tonnage for 130,000 tons of cargo, loading on March 3, discharging USAC/US Gulf, at W/S 195. DRY CARGO Early Capers are facing difficulties, having to accept easier freight rates in both areas. – In the East, brokers are noticing a buildup of tonnage, with the Chinese holding back cargoes from the market. – In the Atlantic, Essar has fixed M/V «Eric Ld,» 169,883 dwt, built 1999, delivery March 5-15 Italy, trip via Brazil, redelivery India, at USD 100,000 daily. – Panamax trading remains sluggish in both areas, with very limited fresh inquiry. Few cargoes have been fixed in the Atlantic, but rates are easier for the nearby positions. – The spot market is easier in the East too, but period rates remain strong. – In the Atlantic, Worthington has fixed M/V «Evdoxos,» 66,865 dwt, built 1984, delivery end February Rotterdam, trip via USAC, redelivery UKC, at USD 37,000 daily, while in the Far East NCL has fixed M/V «Thalia,» 75,120 dwt, built 2001, delivery Taiwan February 12-14, trip via East Coast India, redelivery China, at USD 43,000 daily. – On Handies/Handymax, USAC has fixed M/V «Efessos,» 35,554 dwt, built 1982, delivery Spain mid-February, trip via UKC, redelivery Muscat, at USD 40,000 daily. – On coal, Corus for 50,000 tons loading February 20-25 Venezuela, discharging Netherlands, has paid USD 31.00 per ton with 5 days all purposes.