Shipping Report

TANKERS VLCC rates are continuing to rise a few days before the Chinese New Year holidays. – The 270,000-ton cargoes with destination East are fixed around W/S 160, while same-sized cargoes with destination Red Sea are fixed around W/S 180. – Chevtex for 257,000 tons of cargo, loading March 2 Arabian Gulf, discharging Far East, has fixed M/T «Kaimon» at W/S 162.5, while CSSA for 280,000 tons of cargo, loading March 1, discharging Red Sea, has fixed M/T «Front Vista» at W/S 180. – West African market also pays higher rates, with Marathon having fixed M/T «Front Commodore» for 260,000 tons of cargo, loading March 4, discharging US Gulf, at W/S 137.5. – Suezmaxes are stable in the Med. and West Africa, with rates around W/S 170 and W/S 205-210 respectively. – Quite the opposite is true with the Aframax market. ENI in the Med. for a cargo of 80,000 tons out of Black Sea has received eight offers, and M/T «NC Challenger» has accepted first counter at W/S 180. – In the Cont., the 80,000-ton cargoes still are being fixed around W/S 120, while in Caribs the 70,000-ton round voyages are fixed at W/S 150. – In the Med., Exxonmobil has fixed M/T «Fucsia» for 80,000 tons of cargo, loading mid-February and UKC round, at W/S 220. DRY CARGO Another slow day for Capesizes, with the market seemingly slowing down before the Chinese New Year holidays. – Panamax rates also have eased in both markets. – The Atlantic market seems to be moving sideways, but rates have now dipped blow USD 40,000 daily for trips to the East. – Transatlantic round voyages are being negotiated much lower. – In the East, freight rates are being negotiated around USD 30,000 daily for the normal round-trip voyages. – On Capers, Mosk has fixed M/V «Katerina V,» 171,061 dwt, built 2004, delivery Korea Feb. 18-28, trip via Australia, redelivery Japan, at USD 70,500 daily. – On Panamaxes in the Far East, Glory Wealth has fixed M/V «IVS Merlot,» 76,000 dwt, delivery Japan end April – beg. May, for 3 years’ trading at USD 25,000 daily. – In the Atlantic, China Steel Express has fixed M/V «Medi Rotterdam,» 75,735 dwt, built 2001, delivery Belgium Feb. 9-10, trip via St Lawrence, redelivery Far East, at USD 41,000 daily. – On smaller sizes, Martrade has fixed M/V «DD Vigour,» 42,000 dwt, built 1985, delivery Feb. 8-10 Marmara, trip via Yuzhny (Black Sea), redelivery Muscat, at USD 33,000 daily.

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