ECONOMY

Shipping Report

TANKERS Quiet day, even fewer cargoes of all sizes in all areas. – In the Med., despite 4-5 fixtures for vessels such as M/T «Apanemo,» M/T «Serenity,» M/T «Maratha» and M/T «Atlantic Hero,» with the details not yet known, the market is still around W/S 100 for the 80,000 tons of cargo. – Older vessels are being fixed below W/S 100. M/T «Vergina II,» built 1991, was fixed by Petrogal, loading Algeria, discharging Portugal, at W/S 97.5. – The picture is similar in the N. Sea, with cross voyages being fixed at W/S 165-170. The latest known fixture is that of Stasco and of M/T «Sintra,» loading March 6, discharging USAC, at W/S 155. – Caribs are very weak too, with 70,000-ton cargo liftings at less than W/S 200. M/T «Hudson Spirit» for 70,000 tons of cargo, loading end-Feb. East Coast Mexico, discharging US Gulf, was fixed at W/S 175. – On Panamaxes in that area, though the market is untested, modern units were last fixed at W/S 320-330, while older ones were at much weaker rates. – The Suezmax market is also weak, with Ursa having fixed M/T «Four Sun» for 135,000 tons of cargo, loading March 18 Black Sea, discharging UKC/ Med., at W/S 160, while Valero for 130,000 tons of cargo, loading March 7 Algeria, discharging US Gulf, has fixed M/T «Calm Sea» at W/S 115. – In W. Africa, Shell has fixed Alliance tonnage for 130,000 tons of cargo, loading March 11, discharging US Gulf, at W/S 150. – On VLCCs, Chevtex has fixed M/T «Astipalia» for 275,000 tons of cargo, loading March 25, discharging US Gulf at W/S 90, while Formosa has fixed M/T «Tinos» for 255,000 tons of cargo, loading March 29, discharging Taiwan, at W/S 115. – In the Med., Most for 80,000 tons of cargo, loading March 2 Egypt, discharging Italy, has fixed M/T «Kazan» at W/S 112.5. – In the Cont., Stasco for 80,000 tons of cargo, loading Feb. 29, discharging US Gulf, has fixed M/T «Livia» at W/S 160. – In W. Africa, Cepsa for 130,000 tons of cargo, loading March 17, discharging Spain, has fixed M/T «British Hunter» at W/S 155. DRY CARGO Several Capers have been fixed in the Far East and very few are ballasting toward Brazil in the Atlantic basin. Rates are holding nicely and so is their particular index, having gained 24 points on Monday, totaling 7197. – Transfield in the Atlantic has fixed M/V «Kerkis,» 209,000 dwt, built 1982, delivery end-Feb. Rotterdam via Brazil, redelivery Far East, at USD 97,500 daily, while in the Far East same charterers have fixed M/V «Night Whisper,» 172,428 dwt, built 1985, delivery Feb. 28-29 Korea via W. Australia, redelivery China, at USD 73,000 daily. – On T/C periods, Pan Ocean, with delivery early May for five years’ trading, has fixed M/V «Xing Shenghai,» 182,008 dwt, built 1989, at USD 36,500 daily. – On Panamaxes, rates remain steady, though there is a sluggish feel with fewer cargoes around. – In the Atlantic, Felicia has fixed M/V «Lake Harmony,» 74,274 dwt, built 2001, delivery Turkey March 3-5, trip via Black Sea, redelivery Far East, at USD 56,000 daily. – On Panamax in Far East, Mol Navix has fixed M/V «Alpha Afovos,» 74,428 dwt, built 2001, delivery China Feb. 25-26, trip via Indonesia, redelivery UKC/Med., at USD 42,000 daily. – On smaller sizes, ED&F Man has fixed M/V «Alberto Topic,» 43,473 dwt, built 1991, delivery East Coast Mexico Feb. 28-29, trip via US Gulf, redelivery UKC/Med., at USD 44,000 daily. – On grain cargoes, Dangote has fixed M/V «Dubai Faith» for 35,000 tons of cargo, loading US Gulf Feb. 25-29, discharging W. Africa, at USD 70.00 per ton with 7,000-ton load and 3,000 tons discharge.