ECONOMY

Shipping Report

TANKERS The Aframax market remains active in the Med. and Cont. Rates for 80,000-ton cargoes are being negotiated at W/S 150-155 and W/S 160 respectively. – In the Med., Tupras has fixed a vessel from Algeria to Ceyhan at W/S 155, while Tamoil has fixed M/T «Gaetano d’Alesio,» loading Feb. 23 Libya, discharging Italy, at W/S 142.5. – In the Cont., BP for 80,000 tons of cargo, loading March 6, discharging UKC, has fixed M/T «Orkney Spirit» at W/S 152.5; CSSA for same cargo, loading March 5 with same destination, has fixed M/T «Nordic Torinita» at W/S 152.5. – Out of Baltic, Lukoil has fixed M/T «Minerva Maya» for 100,000 tons of cargo, loading March 8, discharging UKC-USAC at W/S 145 – W/S 157.5, respectively. – Caribs remain quiet, with the 70,000-ton cargo liftings at W/S 180-190. Shell, loading March 3, discharging US Gulf, has fixed M/T «Compass I» at W/S 185. – Suezmaxes are active in W. Africa but rates have been pushed down to the low mid-W/S 120s due to oversupply of tonnage. Sun has fixed M/T «Ath. Olympics» for 130,000 tons of cargo, loading March 20, discharging USAC, at W/S 122.5. – VLCCs weak too, with Jomo having fixed M/T «Venture Spirit» for 268,000 tons of cargo, loading March 23 Arabian Gulf, discharging Japan, at W/S 110. – In the Med., Vitol for 80,000 tons of cargo, loading March 13 Black Sea, discharging UKC/Med., has fixed M/T «Iran Astaneh» at W/S 127.5. – On Suezmaxes, Newton for 135,000 tons of cargo, loading March 10 Egypt, discharging UKC/Med., has fixed M/T «Arteaga» at W/S 130. – In the Cont., CSSA for 80,000 tons of cargo, loading March 5 N. Sea, discharging UKC, has fixed M/T «R. Knutsen» at W/S 152.5. – In Caribs, Valero has fixed M/T «Regent» for 70,000 tons of cargo, loading March 2, discharging US Gulf, at W/S 195. – In W. Africa, Sun for 130,000 tons of cargo, loading March 21, discharging USAC, has fixed M/T «Filikon» at W/S 124.75. – In Arabian Gulf, Shell for 275,000 tons of cargo, loading March 21, discharging UKC – Red Sea, has fixed M/T «Front Page» at W/S 90 – W/S 120 respectively. DRY CARGO Capesize market certainly softer, both in the Atlantic and the East. Rates below USD 100,000 daily for front-haul runs. – SK Shipping has fixed M/V «Rubin Phoenix,» 171,080 dwt, built 1997, delivery end-Feb. UK, trip via Brazil, redelivery China, at USD 95,000 daily, while Nittetsu, with delivery Rotterdam via Brazil, redelivery Japan has fixed M/V «Sanko Oasis,» 161,192 dwt, built 1995, at USD 94,000 daily. – On Panamaxes, rates in the Atlantic appear to be holding steady. However, market looks positional, with prompt ships dropping their rates, while others with later dates are after firmer rates. – Still good demand for T/C periods. Mol Navix has fixed M/V «Anthemis,» 76,000 dwt, delivery beg.-July Japan for two years’ trading, at USD 35,000-36,500 daily. – On Panamax in Far East, Bunge has fixed M/V «Red Orchid,» 76,602 dwt, built 2003, delivery Japan March 11-18 for 3-5 month period at USD 50,000 daily, while Nordern has fixed M/V «Nereid,» 74,295 dwt, built 2001, delivery March 1-5 Muscat, trip via S. Africa, redelivery Italy, at USD 50,000 daily. – In Atlantic, Efe has fixed M/V «Hebei Courage,» 70,922 dwt, built 1986, delivery/redelivery Passero via St Lawrence and Turkey, at USD 41,000 daily. – On smaller sizes, Ator has fixed M/V «Thor Alliance,» 40,940 dwt, built 1984, delivery Vietnam March 1-5 for 12-14 months’ trading at USD 26,000 daily. – On coal cargoes, Cobelfret has fixed M/V «Siboeva» for 70,000 tons of cargo, loading March 1-5 USAC, discharging France, at USD 19.50 per ton with five days all purposes.