ECONOMY

Shipping Report

TANKERS Another quiet day, with an absence of inquiry in all areas. – Aframaxes in the Med. are being fixed at W/S 120, while North Sea Preem has fixed Navion tonnage for 80,000 tons of cargo, loading February 27 UK, discharging UKC, at W/S 172.5. – In Caribs, rates are also falling, with Conoco having fixed M/T «Sea Transport» for 70,000 tons of cargo, loading February 26, discharging US Gulf, at W/S 260. – On VLCCs, Sasol for 260,000 tons of cargo, loading Arabian Gulf March 10, discharging South Africa, has fixed M/T «Iran Delvar» at W/S 125, while Jomo for same cargo quantity, loading March 4, discharging Japan, has fixed M/T «Golden Fountain» at W/S 152. – In the Med., Petrogal for 80,000 tons of cargo, loading February 25, Algeria, discharging Portugal, has fixed M/T «Minerva Maya» at W/S 127.5. – In West Africa and on VLCCs, CSSA for 260,000 tons of cargo, loading March 8, discharging Far East, has fixed M/T «Astro Chorus» at W/S 97.5. DRY CARGO The Atlantic Capers market seems to be picking up, with owners talking rates in excess of USD 100,000 daily with destinations East. – Rates in the East are expected to remain low and at rates ranging from USD 55,000 to 65,000 daily until the early ships are absorbed. – Sentiment on Panamaxes has turned again, with owners putting up their ideas. – There is good demand for T/C periods too, with M/V «Fortune Lady,» 74,694 dwt, built 1998, delivery Far East March 4-6 for 5-7 months’ trading having been fixed at USD 49,000 daily, while in the Atlantic Baumarine has fixed M/V «Poseidon,» 74,900 dwt, built 2002, delivery UK March 4-6 for 2/3 laden legs at USD 50,000 daily. – On Panamax in Far East Sinochart has fixed M/V «Pride,» 77,677 dwt, built 1981, delivery Muscat March 1-5, trip via West Coast India, redelivery China, at USD 41,000 daily, while NNC has fixed M/V «Alianthos,» 65,850 dwt, built 1989, delivery end February China, trip via USAC and Egypt, redelivery Aden-Passero, at USD 40,000 daily. – In Atlantic, SSM has fixed M/V «Bunga Saga Lapan,» 73,207 dwt, built 1998, delivery France end February, for transatlantic round-trip voyage, redelivery Skaw-Passero, at USD 44,000 daily. – On coal cargoes, Swiss Marine has fixed M/V «Cape Providence» for 150,000 tons of cargo, loading Richards Bay February 14-20, discharging Rotterdam, at USD 22.50 per ton with two-day load and 25,000 tons discharge.