ECONOMY

Shipping Report

TANKERS The VLCC market is busier, especially out of the Arabian Gulf, with the latest fixtures about 20 points above the last fixtures. – Unipec has fixed M/T «Spyros» for 265,000 tons of cargo, loading Feb. 27 Arabian Gulf, discharging China, at W/S 90, while Idemitsu for 255,000 tons of cargo, loading Feb. 24, discharging Japan, has fixed M/T «Falcon» at W/S 87.5. – The Suezmax market is stable with a lack of fresh inquiry. In the Med., the 135,000-ton cargoes are being fixed at W/S 220, while in W. Africa, the 130,000-ton cargoes are being negotiated around W/S 150 with destinations USAC. – Tonnage list of VLCCs in the Atlantic appears thin for the first half of March. It will be tough to soften unless Suezmax market collapses in the area. – Aframaxes stable in the Med., with marginally fresh inquiry. Cross voyages in the area are at W/S 270 and at about W/S 300 for cargoes out of the Black Sea. – N. Sea quieter, with CSSA having fixed M/T «Stena Conductor» for 80,000 tons of cargo, loading Feb. 6, for UKC round-trip at W/S 123.75, while Dreyfus has fixed M/T «Navion Scotia,» loading Feb. 5 UK, discharging Germany, at W/S 133.75. – In Caribs, Vitol has fixed M/T «Regent» for 70,000 tons of cargo, loading Feb. 6 Venezuela, discharging US Gulf, at W/S 165. – In W. Africa, Stasco for 130,000 tons of cargo, loading Feb. 22, discharging Med. / UKC, has fixed M/T «Authentic» at W/S 145. DRY CARGO A busy day for Capesizes with some stronger numbers agreed to for long-term period. Good demand for spot market too. The five-year deals were agreed to at between USD 37,000-37,500 daily. – On shorter periods, Mosk has fixed M/V «An Angel Eternity,» 171,101 dwt, built 1999, delivery China end Feb., for 4-6 months’ trading at USD 70,000 daily. – In the Atlantic, Armada has fixed M/V «Front Breaker,» 169,146 dwt, built 1991, for a transatlantic round-trip voyage at USD 75,000 daily. – A busier day for Panamaxes in all areas, with stronger period rates. Perseveranza has fixed M/V «Brunhilde Salamon,» 75,940 dwt, built 2001, delivery end Jan. – beg. Feb. Netherlands, for 6-8 months’ trading at USD 40,000 daily. – On smaller sizes, Ed&F Man has fixed M/V «Highgate,» 46,601 dwt, built 1995, delivery US Gulf beg. Feb., redelivery UKC-Med., at USD 31,500 daily. – On ore cargoes, Elcano has fixed M/V «Front Driver» for 150,000 tons of cargo, loading Brazil end Feb. – beg. March, discharging Koper at USD 19.85 per ton with six days all purposes.