ECONOMY

Shipping Report

TANKERS Easier market conditions in the Mediterranean and Cont., with ENI having fixed in the Mediterranean out of Sidi Kerir (Egypt) and out of Black Sea at W/S 200 and W/S 210 M/T «Vassiliki» and M/T «Astro Sirius» respectively. – In the North Sea, Vitol has fixed M/T «Aegean Pride» for 80,000 tons of cargo, loading February 26, loading S. Voe, discharging Scapa Flow, at W/S 165. – The 100,000-ton cargoes out of the Baltic Sea are still being negotiated around W/S 330. Clearlake has fixed M/T «Minerva Concert» for 100,000 tons of cargo, loading March 14, discharging UKC-US Gulf, at W/S 165 – W/S 200, while Vitol for same cargo, loading mid- March Primorsk, discharging UKC, has fixed M/T «Minerva Roxane» at W/S 330. – Caribs are steady, and at W/S 220 for the 70,000-ton cargo liftings. Valero has fixed M/T «Moscow University,» loading March 6, discharging US Gulf, at above-said levels. – On Suezmaxes, the 135,000-ton cargoes out of the Black Sea are fixed at W/S 155, while in West Africa the 130,000-ton cargoes remain at W/S 150 levels. – Position list is thinning but still reasonable cargoes for the third week of March. – VLCCs remain firm, with Hundai having fixed M/T «Millenium» for 270,000 tons of cargo, loading March 12, discharging South Korea, at W/S 165. – On 130,000-ton cargoes out of the same area, Unipec has fixed M/T «Front Sunda,» loading March 23, discharging China, at W/S 215. DRY CARGO Capesize rates are generally easier in both areas. Brokers are commenting that this is not necessarily a sign of an easier market. – Both indices on Capers and Panamaxes by Friday last week had lost 155 and 54 points, totaling 6,469 and 4,678 respectively. – On Panamaxes, Atlantic looks slightly easier with brokers noting a tightness in tonnage for March. – In the East, rates are being eased for single trips, but still good demand exists on short T/C periods. – On Capers, Pacific Bulk has fixed M/V «Mineral Viking,» 172,964 dwt, built 2001, delivery Amsterdam March 11-13, trip via Brazil, redelivery Far East, at USD 85,000 daily. – On Panamaxes in Atlantic, Transgrain has fixed M/V «Mishima,» 76,598 dwt, built 2002, delivery Morocco end-February, trip via EC South America, redelivery Far East, at USD 44,000 daily. – On smaller sizes, WBC has fixed M/V «Tai An Hai,» 47,698 dwt, built 1986, delivery US Gulf March 1-3, for 2 laden legs, redelivery Far East, at USD 35,000 daily.

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