ECONOMY

Shipping Report

TANKERS Improved Aframax rates in the Med. with at least 10 new cargoes. Rates from W/S 130 are up to W/S 155 while replacement vessels are even fixed at W/S 200, depending on area and loading dates. – The N. Sea market is stable with a number of fixtures at W/S 167.5-170 while the 100,000-ton cargoes of Gdansk are fixed at W/S 200. – Caribs is stable with six-seven fixtures out of Mexico discharging US Gulf at around W/S 347.5-350. – Suezmaxes weak in the Med. and in W. Africa. – The latest transatlantic voyages out of W. Africa are negotiated at W/S 170 while a number of VLCCs are soaking up stems in the area. Tonnage is building up and we might see weaker rates. – Cargoes of 260,000 tons out of the same area are fixed around W/S 105. – In the Med., Vitol for 80,000 tons of cargo, loading Jan. 24, discharging Med., has fixed M/T «Stavanger Bay» at W/S 170. – On Suezmaxex, ATMI for 135,000 tons of cargo, loading Jan. 15 Libya, discharging US Gulf, has fixed M/T «Astro Polaris» at W/S 155. – In the Cont., Koch has fixed M/T «Genmar Star» for 80,000 tons of cargo, loading Jan. 22, discharging US Gulf, at W/S 225. – In Caribs, Valero for 70,000 tons of cargo, loading Jan. 20 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Constant» at W/S 347.5. – In W. Africa, TTMI for 130,000 tons of cargo, loading Feb. 5, discharging US Gulf, has fixed Alliance tonnage at W/S 170. In Arabian Gulf, Chevtex has fixed M/T «Radiant Jewel» for 265,000 tons of cargo, loading Jan. 29, discharging Far East, at W/S 77.5. DRY CARGO Capesize market in the East as well as in the Atlantic appears significantly stronger. – By Monday, January 10 bulkcarriers’ and Panamaxes’ indices had moved upward by 239 and 155, coming to 6,166 and 4,565 respectively. – Panamaxes also have firmer demand while early ships have been absorbed. – Period activity has also returned with M/V «Halo Cygnus,» 73,937 dwt, built 1998, going on subs for seven-nine months’ trading at USD 40,000 daily, but a charterer was not disclosed. – On Capers, Swiss Marine has fixed M/V «Leon V,» 146,019 dwt, built 1987, delivery Jan. 10-20 Far East, for three-five months’ trading at USD 52,000 daily. – On Panamax in Far East, Daeyang has fixed M/V «Pessada,» 75,484 dwt, built 1999, delivery Japan beg.-Jan., redelivery Far East at USD 32,000 daily. – In Atlantic, Baumarine has fixed M/V «Altair,» 74,665 dwt, built 2001, delivery mid-Jan. France, trip via Kamsar, redelivery Cont., at USD 37,000 daily. – On smaller sizes, NYK has fixed M/V «Orfeas,» 48,891 dwt, built 1983, delivery UKC beg.-Jan., trip via S. America, redelivery UKC, at USD 26,000 daily.