ECONOMY

Shipping Report

TANKERS The markets are at steady levels in all sizes and areas. – VLCCs out of Arabian Gulf with destination East are fixed at W/S 62.5, while the 260,000-ton cargoes out of West Africa with destination US Gulf are fixed at W/S 97.5. – Suezmaxes are also quiet in all areas. – In the Mediterranean, Saras has fixed M/T «Minerva Nounou» for 135,000 tons of cargo, loading February 9 Egypt, discharging Mediterranean at W/S 230, while Vitol for same cargo, loading February 15 Libya, discharging US Gulf, has fixed M/T «Arteaga» at W/S 150. – Aframaxes in the Mediterranean at W/S 280 for normal cross-Mediterranean cargoes and W/S 300 out of Black Sea. – OMV has fixed Minerva tonnage for 80,000 tons of cargo, loading Libya February 9, discharging Italy, at W/S 285, while BP for same cargo, loading February 9 Libya, discharging Mediterranean, has fixed M/T «Torm Gudrun» at W/S 275. – In the North Sea, Ergon has fixed M/T «Montiron» for 80,000 tons of cargo, loading February 12 Nigg Bay, discharging US Gulf, at W/S 235, while Repsol for same cargo, loading February 7, and for UKC round, has fixed M/T «Braveheart» at W/S 152.5. – On 100,000-ton cargoes, Europet has fixed M/T «Sakhalin Isld,» loading February 13 Primorsk, discharging UKC, at W/S 400. In the Arabian Gulf, S. Oil has fixed M/T «Hebei Mountain» for 270,000 tons of cargo, loading February 20, discharging South Korea, at W/S 62.5. DRY CARGO Several Capers have been fixed in the East, but still it is uncertain whether the market is moving in the right direction. – There is more activity in the Atlantic, with rates beginning to rise although some less-than-exciting rates are still emerging. – On Panamaxes, there is improvement, evident in both areas of the market although rate gains for now are hard-won. – In the Atlantic, rates have firmed, with signs of the grain houses taking more tonnage for short periods. – On Panamax in Far East, STX Pan Ocean has fixed M/V «Eleranta,» 73,222 dwt, built 1995, delivery Japan beg. February, trip via Nopac, redelivery Bin Qasim, at USD 29,000 daily. – In the Atlantic, Coeclerici has fixed M/V «Pina Cafiero,» 75,688 dwt, built 2002, delivery US Gulf February 13-15, redelivery Japan, at USD 40,000 daily and USD 750,000 ballast bonus. On coal cargoes, Bulk Shipping for 65,000 tons, loading February 1-15 Richards Bay (South Africa), discharging Morocco, was fixed at USD 26.00 per ton with 1-day load and 22,000 tons discharge.