ECONOMY

Shipping Report

TANKERS Med. appears to be the only active market due to additional inquiry out of the Black Sea and increased delays in the Bosporus. – The 80,000-ton cross-Med. cargoes are being fixed at W/S 195, while the same size cargoes out of the Black Sea are being fixed at W/S 230. – Suezmaxes also appear busier in the area, with 135,000-ton cargo liftings out of the Black Sea being fixed at W/S 155. – N. Sea stable, with 80,000-ton cross-UK cargoes at W/S 165, while 100,000-ton cargoes out of the Baltic are being fixed above W/S 400. – Caribs even weaker than our last report, with Marathon having fixed M/T «Sabine Spirit» for 70,000 tons of cargo, loading Jan. 26 East Coast Mexico, discharging US Gulf, at W/S 175, while Premcor for same cargo, loading Jan. 27, with same destination, has fixed M/T «British Vine» at W/S 200. – W. Africa remains over tonnage on Suezmaxes. Rates with destination US Gulf are at W/S 140, while VLCCs out of the same area are at W/S 100 and W/S 80 for the US Gulf and east respectively. – In the Med., Tamoil for 80,000 tons of cargo, loading Jan. 28 Libya, discharging UKC-Med., has fixed M/T «Framura» at W/S 200. – On Suezmaxes, Europet for 135,000 tons of cargo, loading Feb. 5, discharging UKC-Med., has fixed M/T «Stemnitsa» at W/S 155. – In the Cont., CSSA has fixed M/T «Nordic Svenita» for 80,000 tons of cargo, loading Feb. 1, discharging Med., at W/S 165. – In W. Africa, Sun has fixed M/T «Romantic» for 130,000 tons of cargo, loading Feb. 15, discharging USAC, at W/S 142.5. – In Arabian Gulf, Shell has fixed M/T «Starlight Venture 2» for 275,000 tons of cargo, loading Feb. 6, discharging Japan, at W/S 70. DRY CARGO Capesize rates in the east continue to drop with very thin activity. A 149,000-tonner has dropped USD 5,000 in a day in order to be able to fix. – The Atlantic appears steadier but there have been some falls in rates for particular routes. It has been a day of fixing and failing. – M/V «Amsterdam,» 170,578 dwt, built 2002, delivery Amsterdam on a Jan. 25 trip via Brazil, redelivery Far East, was fixed at USD 92,000 daily. On Panamaxes, the picture appears similar. In Far East, charterers are making all efforts to push rates lower, while the Atlantic market appears to be very much in a standoff. – Daebo has fixed M/V «Mar Reina,» 72,474 dwt, delivery Jan. 25-27 Japan, for an Australian round-trip, redelivery China, at USD 30,500 daily. – In Atlantic, Daeyang has fixed M/V «Nyon,» 73,035 dwt, built 1999, delivery Germany Jan. 24-25, trip via Ventspils, redelivery Far East, at USD 41,000 daily. – On smaller sizes, Norton has fixed M/V «Spar Cetus,» 45,725 dwt, built 1998, delivery end Jan. UK, redelivery East Med., at USD 30,000 daily. – On grain cargoes, Cam for 25,000 tons of cargo, loading Argentina Feb. 5-15, discharging Algeria, has fixed M/V «Alexis» at USD 59.50 per ton with 6,000-ton load and 3,000 tons discharge.