ECONOMY

Shipping Report

TANKERS Weaker conditions for VLCCs out of Arabian Gulf, with KPC having fixed M/T «Universal Prime» for 290,000 tons of cargo, loading Feb. 18, discharging US Gulf, at W/S 62.5, while Tianbao has fixed M/T «Navarin» for 235,000 tons of cargo, loading Feb. 19, discharging China, at same levels. – In the Med. and on Aframaxes, the 80,000-ton cargoes are being fixed at similar levels as those out of Black Sea. – As this particular market is far better than the others, brokers are talking of a number of vessels in ballast from Caribs / US Gulf and N. Sea area. – In the N. Sea, Stasco has fixed M/T «Natura» for 80,000 tons of cargo, loading Feb. 4 Denmark, discharging Sweden, at W/S 170, while Clearlake has fixed M/T «Tempera» for 100,000 tons of cargo, loading Feb. 18 Primorsk, discharging UKC, at about W/S 400. – In the Med., ENI for 80,000 tons of cargo, loading Feb. 7 Egypt, discharging Med., has fixed M/T «Desh Gaurav» at W/S 290, while in Caribs, Adam has fixed M/T «Regent» for 70,000 tons of cargo, loading Venezuela Jan. 28, discharging US Gulf, at W/S 175. – On Suezmaxes out of W. Africa, there is little interest for third decade cargoes. Rates nominally in the area at W/S 180, with tonnage reasonably spread through balance for Feb. – Sinochem in the Med. for 135,000 tons of cargo, loading Feb. 15 Novorossisk, discharging UKC-Med., has fixed M/T «Genmar Hope» at W/S 220. – In W. Africa, Repsol has fixed M/T «Granada Spirit» for 130,000 tons of cargo, loading Feb. 24, discharging Spain, at W/S 147.5. DRY CARGO Despite the number of Capesize fixtures in the East, rates have not yet reached above USD 60,000 daily for round-trip voyages. – There was very little reported as being fixed in the Atlantic for this size vessels. – Capers index on Jan. 25 gained 80 points, totaling 5,789. – Quieter conditions for Panamaxes too, with charterers attempting to push rates down. US Gulf market remains the weak link in the chain, with some ships willing to accept low rates. – On Capers, Pacific Bulk has fixed M/V «Kildare,» 211,320 dwt, built 1996, delivery France Feb. 26-28, trip via Brazil, redelivery China, at USD 95,000 daily. – On Panamax in Far East, d’Amico has fixed M/V «Alpha Melody,» 74,374 dwt, built 2002, delivery Indonesia Jan. 29-31, redelivery Hong Kong, at USD 34,000 daily. – In Atlantic, EMC has fixed M/V «Seattle Trader,» 76,000 dwt, built 2000, delivery France end Jan., for 3-5 months’ trading at USD 39,000 daily. – On smaller sizes, Farenco has fixed M/V «Naftilos,» 41,416 dwt, built 1985, delivery China Jan. 27-30, redelivery India, at USD 22,000 daily. – On grain cargoes, AWB Ltd has fixed M/V «Nirefs» for 57,000 tons of cargo, loading US Gulf Feb. 1-10, discharging China, at USD 57.50 per ton with 10,000-ton load and 5,000 tons discharge.