ECONOMY

Shipping Report

TANKERS An active day for Aframaxes, with a number of new Russian cargoes having been quoted in the market. Rates however, remain around W/S 160-170 levels due to ample supply of tonnage in the area. – North Sea is steady, with a number of fixtures at W/S 165 for cross 100,000 tons of cargoes. – The picture in Caribs is similar, with 3-4 fixtures of 70,000-ton cargoes at W/S 340-350. – The Suezmax market is weaker in all areas. – In the Med., Exxonmobil has fixed M/T «Kaspiy» for 135,000 tons of cargo, loading February 1 Supsa, discharging UKCM, at W/S 145. – In West Africa too rates have weakened, with the 130,000-ton cargoes having been fixed at W/S 150. – On VLCCs out of the same area, the 260,000-ton cargoes with destination East are fixed at W/S 80. – In the Med., CSSA for 80,000 tons of cargo, loading January 24 Tunisia, discharging UKC-Med., has fixed M/T «Ania» at W/S 165. – On Suezmax, Tamoil for 130,000 tons of cargo, loading January 19 Libya, discharging Germany, has fixed M/T «Astro Cassiopeia» at W/S 150. – In the Cont., CSSA for 80,000 tons of cargo, loading January 20 East Coast UK, discharging UKC, has fixed M/T «Nordic Svenita» at W/S 162.5. – In Caribs, Valero has fixed M/T «Eliane» for 70,000 tons of cargo, loading January 15 Venezuela, discharging US Gulf, at W/S 350. – In West Africa, China Oil has fixed M/T «Genmar Prometheus» for 130,000 tons of cargo, loading January 30, discharging China, at W/S 150. – In Arabian Gulf, NGT has fixed M/T «Yiomaral» for 265,000 tons of cargo, loading January 30, discharging Japan, at W/S 69. DRY CARGO Capesize rates appear to have topped in the East, with levels possibly easing in the short term. – The Atlantic seems steadier, with a fair number of cargoes having been quoted. – Panamaxes too remain active in the Atlantic, with period activity dominating the market in the East. – Great Pacific has fixed M/V «Red Rose,» 76,629 dwt, built 2003, delivery April ’05, for 35-37 months’ trading at USD 25,250 daily, while d’Amato has fixed M/V «Medi Roma,» 74,255 dwt, built 2001, delivery Taiwan January 16-18, for 11-13 months’ trading at USD 39,000 daily. – In the Atlantic, STX Pan Ocean has fixed M/V «Trident Destiny,» 52,068 dwt, built 2000, delivery February 5-20 US Gulf, redelivery Far East, at USD 49,000 daily. – On smaller sizes, EMR has fixed M/V «Tate J,» 43,685 dwt, built 1989, delivery Jan. 13-15 UKC, trip via new Europe, redelivery Turkey, at USD 28,000 daily.