ECONOMY

Shipping Report

TANKERS A quiet start to the week with an absence of cargoes of all sizes in most areas. – VLCCs with limited inquiry, while Suezmax rates are expected to decline in West Africa too. – Aframaxes in the Med. are at W/S 130-140, with Erg having fixed M/T «Sea Loyalty» for 80,000 tons of cargo, loading February 23 Libya, discharging Med., at W/S 136, while Petrogal for same cargo quantity, loading Algeria, discharging Portugal, has fixed at W/S 130. – In the North Sea, where there is sufficient tonnage supply and a potentially quiet week, rates are expected to decline. Latest fixtures at W/S 175 for 80,000-ton round-trip voyages. – Stable conditions in Caribs, with Westport having fixed M/T «Harmony» for 70,000 tons of cargo, loading February 19, discharging USAC, at W/S 340. – In the Med., Tamoil for 80,000 tons of cargo, loading February 18 Libya, discharging Med., has fixed M/T «Iran Astaneh» at W/S 152.5, while on Suezmaxes, Petroval has fixed M/T «Kaspiy» for 142,000 tons of cargo, loading March 3 Russia, discharging UKC/Med., at W/S 165. – In West Africa, Newton for 130,000 tons of cargo, loading March 1, discharging Indonesia, has fixed M/T «Unicorn» at W/S 195. DRY CARGO Declining rates for Capers, with that particular index having lost 99 last Friday, totaling 6,937. – A small improvement in Panamaxes, mainly due to additional inquiry in the Far East. Their index gained eight points, totaling 4,908. – In Far East, Cargill has fixed M/V «Spatia,» 75,115 dwt, built 2000, delivery February 17-20 Japan, redelivery Far East, at USD 38,750 daily, while Mol Navix has fixed M/V «Arethusa,» 75,220 dwt, built 2001, delivery Japan February 18-22, trip via Australia, at USD 37,000 daily. – On Panamax in Far East, Worldlink has fixed M/V «Belisland,» 76,602 dwt, built 2003, delivery Japan end of February via Roberts Bank, at USD 40,750 daily. – In Atlantic, ABT has fixed M/V «Lowland Comfort,» 75,961 dwt, built 2000, delivery Passero end of February, for two legs at USD 44,000 daily. – On smaller sizes, Interpec has fixed M/V «Xanadu,» 50,169 dwt, built 2001, delivery Taiwan February 15-17, trip via Southeast Asia, redelivery UKC/Med., at USD 25,000 daily.