ECONOMY

Shipping Report

TANKERS A very quiet day in the Med., with modern Aframaxes at W/S 210 for normal round-trip voyages. – The North Sea market is also quiet, with only a few requests with February loading dates. Cargoes out of the Baltic are being fixed with early March dates. Rates for cross UK trips at W/S 160, while out those out of the Baltic and for 100,000-ton cargoes at W/S 330. – Caribs appears busier, with the normal 70,000-ton cargo liftings above W/S 205. – Suezmax rates out of West Africa at W/S 160 with reasonable activity, while VLCCs at W/S 110 with destination East and W/S 130 with destination West. – VLCC rates out of Arabian Gulf are picking up, with Sinochem having fixed M/T «Iran Marsin» for 270,000 tons of cargo, loading March 12, discharging China, at W/S 151.50. – In the Med., Stasco for 80,000 tons of cargo, loading February 23 Algeria, discharging UKC-Med., has fixed M/T «Baltic Sea» at W/S 120. – On Suezmaxes, Sun for 130,000 tons of cargo, loading March 6 Algeria, discharging USAC, has fixed M/T «Four Sun» at W/S 150. – In Caribs, Marathon for 70,000 tons of cargo, loading February 22 East Coast Mexico, discharging US Gulf, has fixed M/T «Chemtrans Lyra» at W/S 202.5. – In West Africa, Koch has fixed M/T «Sea Star» for 130,000 tons of cargo, loading March 7, discharging US Gulf, at W/S 155. DRY CARGO Capesizes firmer in the East, with their index gaining 79 points, totaling 6,511. – Market is saying that the next rate for a BCI type could reach USD 80,000 daily for normal round-trip voyages in the area. – Quieter conditions for Panamaxes with only period activity driving the market. – On Capers, M/V «La Mer,» 138,166 dwt, built 1981, delivery Muscat February 23-25 trip via South Africa, redelivery China, was fixed at USD 65,000 daily. – On Panamaxes in Far East, Armada has fixed M/V «Seafarer II,» 75,706 dwt, built 2000, delivery China mid-February for 4-6 months’ trading at USD 40,000 daily. – In the Atlantic, ABT has fixed M/V «Spar Vega,» 73,350 dwt, built 1995, delivery Morocco February 23-27, trip via East Coast South America, redelivery Far East, at USD 42,500 daily. – On smaller sizes, Norton has fixed M/V «Bunga Orkid Satu,» 43,246 dwt, built 1994, delivery UKC end February, trip via UK, redelivery India, at USD 30,000 daily. On ore cargoes, Neu has fixed M/V «Mineral Antwerpen» for 160,000 tons of cargo, loading Brazil March 3-14, discharging Redcar & Immingham (UK), at USD 22.00 per ton with 7 days all purposes.