ECONOMY

Shipping Report

TANKERS Healthier signs for the Aframax market in the Med., due to new orders out of Black Sea and weather delays in the area. – The normal cross-Med. voyages are being negotiated at W/S 270, while out of Black Sea around W/S 300. – Suezmaxes in the area at also at better rates, with a number of cargoes mostly out of the Black Sea. The 135,000-ton cargoes are negotiated between W/S 200-220 depending on loading dates, loading port and destination. – In the N. Sea, Aframaxes are being fixed at W/S 170-175 while the 100,000-ton cargoes out of Baltic are being fixed at W/S 400. – Caribs are steady, with a lot of activity last Friday. The 70,000-ton cargoes mostly are fixed at W/S 160. – Suezmax rates out of W. Africa are improving, with owners holding at W/S 180 for the 130,000-ton cargoes with destination US Gulf / USAC. – VLCCs rates have moved to W/S 92.5 with destination US Gulf and W/S 75 with destination East. – In the Med., Erg for 80,000 tons of cargo, loading Feb. 7, discharging Med., has fixed M/T «Myrina» at W/S 235. – In the Cont., BP has fixed M/T «Hildegaard» for 80,000 tons of cargo, loading Jan. 27, discharging UKC, at W/S 172.5. – In Caribs, Valero has fixed M/T «Hellespont T» for 70,000 tons of cargo, loading Jan. 30 East Coast Mexico, discharging US Gulf, at W/S 157.5. – In W. Africa, TTMI for 130,000 tons of cargo, loading Feb. 16, discharging US Gulf, has fixed alliance tonnage at W/S 160. DRY CARGO Capesize market in the Far East appears to have settled at the present levels. Some weak rates have been reported, but brokers are talking about an upturn due to fresh inquiry. – Transfield has already reported for 7 cargoes with loading dates end Feb – beg. March from W. Australia to China. – The Atlantic market has been fairly steady over the week, with even a 1985-built VSL reportedly been fixed at USD 84,000 daily for the run East. – Rates in the East for Panamaxes tonnage hovered around the upper USD 20,000 to low USD 30,000 daily range for IMEs for either trips to the Atlantic or round voyages. – Mixed views in the Atlantic. There are some reports with very cheap rates agreed. This market certainly has suffered a lack of transatlantic cargoes / T/C inquiries. – On Capers, Mosk has fixed M/V «Chitose,» 171,198 dwt, built 2000, delivery Feb. 5-7 Netherlands, trip via Norway and Turkey, redelivery Passero, at USD 80,000 daily. In Far East and on Panamax, Dreyfus has fixed M/V «Pontovreomon,» 76,000 dwt, built 2001, delivery Jan. 26-31 Japan, redelivery Far East, at USD 30,250 daily. – In Atlantic, D’Amato has fixed M/V «Navios Star,» 76,620 dwt, built 2002, delivery Passero Feb. 4-5, for a 4-6 month period at USD 39,500 daily. – On smaller sizes, Eitzen bulk Carriers has fixed M/V «B. Europa,» 37,188 dwt, built 1982, delivery Gibraltar end-Jan., trip via S. Africa, redelivery US Gulf, at USD 19,000 daily.