ECONOMY

Shipping Report

TANKERS Increased inquiry in the Med., though rates appear to have bottomed at W/S 150 levels. – In the Cont., after the latest fixtures at W/S 195, rates seem to be improving, with Chevtex having fixed Lundqvist tonnage for 80,000 tons of cargo, loading EC UK Feb. 20-21, discharging UKC, at W/S 215. – Caribs stable, with a number of fixtures at W/S 320-330. M/T «Harmony» for 70,000 tons of cargo, loading Feb. 16, discharging USAC, has been fixed at W/S 320. – Weaker conditions for VLCCs and the picture is similar for Suezmaxes out of W. Africa. Rates are expected to decline after the number of VLCC fixtures from this area with destinations mainly US Gulf / USAC. – In the Med., Petrogal for 80,000 tons of cargo, loading Feb. 24 Egypt, discharging Portugal, has fixed M/T «Gaetano d’Alesio» at W/S 157.5. – In the Cont., BP for 80,000 tons of cargo, loading Feb. 21 for UKC round-trip voyage, has fixed M/T «Tsunami» at W/S 195. – In W. Africa, Sun has fixed M/T «Genmar Spartiate» for 130,000 tons of cargo, loading March 13, discharging USAC, at W/S 180. DRY CARGO Rates are easier for Capers, with the key routes of Tubarao to Beilun and Baoshan at slightly under USD 40.00 and the next Richards Bay rate likely to be under USD 23.00 per ton. – Prompt Panamax ships are facing easier rates in the Atlantic. However, the tonnage list is slimmer for late Feb. dates. – Cargill has fixed M/V «Four Coal,» 74,020 dwt, built 1999, delivery Passero end Feb., as well as M/V «Marine Prosperity,» 73,321 dwt, built 2001, delivery UKC, at USD 45,000 and USD 43,000 daily, respectively. – Slightly easier rates for Handymaxes also in the US Gulf area. Cargill has fixed M/V «Spyros B,» 45,176 dwt, built 1985, delivery US Gulf end Feb., redelivery UKC, at USD 40,000 daily. – In Far East, Taho has fixed M/V «Rutland Glen,» 73,700 dwt, buit 1999, delivery Japan Feb. 15-17 for Australian round-trip voyage, redelivery Taiwan, at USD 38,500 daily. – In the Atlantic, D’Amato has fixed M/V «Denak-a,» 69,993 dwt, built 1997, delivery US Gulf end Feb., redelivery Far East, at USD 45,000 daily and USD 740,000 ballast bonus. – On smaller sizes, Mur has fixed M/V «Sanko Rose,» 42,529 dwt, built 1992, delivery Feb. 22-26 Muscat for 2-3 laden legs via S. Africa, at USD 32,000 daily. – On coal cargoes, Enel has fixed M/V «Irinikos» for 65,000 tons of cargo, loading Richards Bay March 1-5, discharging Italy, at USD 32.50 per ton with one-day load and 12,000 tons discharge.