Shipping Report

TANKERS Med. market remains quiet and at the recent low levels due to an oversupply of tonnage in the area. – The 80,000-ton cargoes in cross-Mediterranean voyages are being negotiated at W/S 110, while out of the Black Sea the same-sized cargoes are fixed at W/S 120. – Cont. remains quiet, with the 100,000-ton cargoes out of the Baltic Sea being negotiated around W/S 230, while out of Murmansk the same-sized cargoes are being fixed at W/S 197.5-200. – Caribs is quieter, with fewer cargoes in the market. Valero has fixed M/T «Olympic Sponsor» for 70,000 tons of cargo, loading February 25, discharging USAC, at W/S 220. – On smaller sizes, Vitol for 50,000 tons of cargo, loading February 23, discharging USAC, has fixed M/T «Aramis» at W/S 195. – West Africa is stable, with the 130,000-ton cargoes having been fixed around W/S 150 for US Gulf and Med. / Cont. destination. – Mediterranean is also stable on these types of vessels, and at W/S 170-175 for cross-Mediterranean and Black Sea respectively. – VLCCs are firming out of Arabian Gulf, with additional inquiry. Chevtex for 275,000 tons of cargo, loading March 17, discharging Far East, has fixed M/T «Front Falcon» at W/S 180. – In the Mediterranean and on Aframax, BP has fixed M/T «Athina M» for 80,000 tons of cargo, loading March 4 Russia, discharging Mediterranean, at W/S 120. – In the Cont., Dukkar for 100,000 tons of cargo, loading March 3 Murmansk, discharging UKC, has fixed M/T «Aegean Pride» at W/S 200. DRY CARGO Capesize rates are firming, with tonnage in the East for an Australian round trip having secured USD 85,000 daily. – Atlantic to Far East rates remain above USD 90,000 daily. – Panamaxes are stable in all areas, with good demand and good volume of grain cargoes in the Atlantic basin. – In the Far East, Cargill has fixed M/V «Maribella,» 76,629 dwt, built 2004, delivery China February 20-25, for 4-6 months’ trading at USD 40,000 daily. – In the Atlantic, Pan Ocean has fixed M/V «Red Queen,» 76,500 dwt, built 2004, delivery US Gulf February 23-24, redelivery Far East, at USD 41,500 daily. – On smaller sizes, Hanjin has fixed M/V «Nicon Frontier,» 45,499 dwt, built 2000, delivery China February 23-26, trip via Western Australia, redelivery Far East, at USD 30,000 daily.

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