ECONOMY

Shipping Report

TANKERS The Arabian Gulf is still without VLCCs fixtures due to the holidays in China. – Suezmaxes quieter too, from same area as well as from West Africa. The market in this particular area remains firm, but rates have moved from W/S 197.5 to W/S 172.5 as per latest sun fixture of M/T «Sea Star,» loading March 2, discharging USAC. – Aframaxes are still quiet in the Mediterranean, with rates at W/S 150 out of the Black Sea for moderns. – North Sea is giving signs of improvement, with CSSA having fixed M/T «Navion Scotia» for 80,000 tons of cargo, loading February 15, for UKC round at W/S 139.5, while Navion for same cargo, loading February 26 West Coast Norway, discharging UKC, has fixed M/T «Nordic Torinita» at W/S 140. – Caribs have a number of fixtures, while rates from W/S 175 have moved upward by almost 10 points. – Valero has fixed M/T «Baltic Sea» for 70,000 tons of cargo, loading February 16, discharging USAC, at W/S 185, while Chevtex for same cargo, loading February 22 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Revenge» at W/S 182.5. DRY CARGO Capesize market in Far East appears to be tightening up, with tonnage tight and several charterers coming into the market. – BHP Billiton, Mosk and Shinwa are actively trying to cover their cargoes. BHP Billiton has fixed M/V «Zorbas,» 165,055 dwt, built 1996, delivery February 14-16 Philippines, trip via Australia, redelivery China, at USD 60,000 daily. – The Atlantic market of this size remains easy, with little activity evident. Kleimar has fixed M/V «New Brisk,» 168,421 dwt, built 1995, delivery Passero end of February, trip via Brazil, redelivery China, at USD 82,000. – Panamaxes in the Atlantic have more cargoes out of South America, with destination East and with owners preferring to stay in the area. – On Panamax in Far East, M/V «Sun Arrow,» 65,738 dwt, built 1981, delivery Korea end of February, redelivery Black Sea, was fixed at USD 21,500 daily. – In the Atlantic, Chinese charterers have fixed M/V «Ayrton II,» 76,000 dwt, built 2001, delivery February 15-17 UK, trip via East Coast South America, redelivery Far East, at USD 40,000 daily. – On smaller sizes, ED&F Man has fixed M/V «Achilles,» 37,740 dwt, built 1984, delivery mid-February, for two legs, redelivery Atlantic, at USD 24,000 daily.