ECONOMY

Shipping Report

TANKERS A very quiet start to the week, with at least 18-20 vessels on prompt dates in the Med. – Aframaxes are being negotiated at W/S 110 for modern vessels and W/S 80 for older single-hull ships. – The Cont. is quiet too, with the latest fixtures for 80,000-ton round-trip voyages at W/S 150. – Caribs almost steady, with latest fixtures for 70,000-ton cargoes above W/S 200. – Suezmaxes also quiet in the Med. at W/S 175, while out of W. Africa, transatlantic cargoes are being fixed at W/S 150-155. – VLCCs out of the same area at W/S 110 with destination East and W/S 130 with destination West. – Arabian Gulf still provides better opportunities for all sizes. – In the Med. and on Aframaxes, ERG for 80,000 tons of cargo, loading March 3 Egypt, discharging Med., has fixed M/T «Gaetano d’Alesio» at W/S 110. – In the Cont. and on 100,000-ton cargoes, Ursa has fixed Minerva tonnage, loading March 10 Baltic, discharging UKC, at W/S 330. – In Caribs and on 50,000-ton cargo liftings, Citgo has fixed M/T «Aramis,» loading Feb. 21, discharging USAC, at W/S 186. – In W. Africa, Petrobras has fixed M/T «Velez Blanco» for 130,000 tons of cargo, loading March 9, discharging Brazil, at W/S 140. – In Arabian Gulf, Vitol for 280,000 tons of cargo, loading March 13, discharging US Gulf – EC Canada has fixed M/T «Millenium» at W/S 120 – W/S 122.5 respectively. DRY CARGO Capesize rates in the East remain firm, while in the Atlantic rates are moving up significantly. – Round-trip voyages in Far East are being negotiated near USD 85,000 daily, while trips to the Atlantic with destination East are being negotiated at USD 92,000 daily. – Panamaxes steady and driven mainly due to substantial demand for short T/C periods. – In Far East and on Panamaxes, Daeyang has fixed M/V «Medi Genova,» 75,767 dwt, built 2004, delivery Feb. 24-26 Japan, redelivery Far East, at USD 39,250 daily. – In the Atlantic, Transbulk has fixed M/V «Shen Nong Feng,» 74,000 dwt, built 2002, delivery Amsterdam end Feb., trip via USAC, redelivery UKC – Med., at USD 39,000 daily. – On smaller sizes, Fremery has fixed M/V «Syriotissa,» 45,470 dwt, built 1986, delivery Muscat March 1-5, trip via India, redelivery China, at USD 31,000 daily. – On ore cargoes, China Steel Express for 120,000 tons, loading Brazil March 1-10, discharging Taiwan, has fixed M/V «Hedwig Oldendorff» at USD 32.50 per ton with 40,000-ton load and 38,000 tons discharge.