ECONOMY

Shipping Report

TANKERS The Med. market has dramatically firmed, with fixtures from W/S 130 then W/S 150 and finally W/S 150 for cross-Med. liftings. CSSA has fixed Iran tonnage for 80,000 tons of cargo, loading March 6 Egypt, discharging France, at W/S 190. – N. Sea market still quiet, with the 80,000-ton cargoes having been fixed at around W/S 160 while the 70,000 tons cargo liftings in Caribs are fixed at W/S 220. – Suezmax rates remain quiet in the Med. and W. Africa too. – In the Med., ERG has fixed M/T «Flawless» for 130,000 tons of cargo, loading March 17 Egypt, discharging Italy, at W/S 150, while similar rates are being negotiated for the same-sized cargoes from W. Africa to transatlantic destinations. – Even firmer rates for VLCCs out of Arabian Gulf, with the 270,000-ton cargoes at W/S 150-155 and W/S 130-135 for East and West destinations respectively. – On Aframaxes in the Med., Tamoil has fixed M/T «Torm Gudrun» for 80,000 tons of cargo, loading Libya March 3, discharging UKC-Med., at W/S 110-W/S 115 respectively. – In the Cont. and for 100,000 tons of cargo, Europet has fixed M/T «Mastera,» loading March 9 Primorsk, discharging UKC, at W/S 330. – In Caribs, Marathon has fixed M/T «Olympic Sponsor» for 70,000 tons of cargo, loading end Feb. EC Mexico, discharging US Gulf, at W/S 220. – In Arabian Gulf, Conoco has fixed M/T «Asian Jewel» for 264,000 tons of cargo, loading March 14, discharging Spain, at W/S 188.5. DRY CARGO Capesize rates show very limited fresh inquiry, and charterers are holding their cargoes after seeing the recent big rises in rates. – Owners are now talking USD 90,000 daily for Australian round-trip voyages with charterers not willing to meet their ideas, thus withholding their cargoes from the market. – M/V «Cape Stork,» 171,039 dwt, built 1996, was fixed by Transfield, delivery China March 10, for an Australian round-trip voyage at USD 84,000 daily. – Atlantic market also very slow, with Capers index having lost 58 points, totaling 6,743. – A day of more talk than action for Panamaxes in all areas. Their index has moved only by 15 points upward, totaling 4,785. – On short T/C periods, M/V «Alpha Afovos,» 74,428 dwt, built 2001, was fixed by PCL open in China for 4-6 months’ trading at USD 42,500 daily. – In Atlantic, AWB Ltd has fixed M/V «Joyous Society,» 69,274 dwt, built 1994, delivery US Gulf March 1-10, redelivery Far East, at USD 39,500 daily and USD 725,000 ballast bonus. – On smaller sizes, M/V «Orhan Ekinci,» 37,600 dwt, built 1982, delivery Feb. 23-25 East Med., trip via Black Sea, redelivery Egyptian Med., was fixed at USD 23,500 daily.