ECONOMY

Shipping Report

TANKERS – In the Med., 135,000 tons of cargo are fixed at W/S 70 while in W. Africa, 130,000 tons of cargo are fixed between 62.5-67.5 for Med. and USAC destinations. – Aframax rates still weak with a number of cancellations in the Med. mainly out of Black Sea. Rates around W/S 100, with enough tonnage available. – Cont. after the W/S 92.5-95 levels appears more active with rates at W/S 97.5. – Caribs weak and it seems it will remain so, with the 70,000 tons cargo liftings fixed at W/S 100. – In the Med., Naftex has fixed M/T «Min. Alexandra» for 80,000 tons of cargo, loading Jan. 20 Black Sea discharging Med. at W/S 100. – On the Continent, CSSA, for 80,000 tons of cargo, loading Jan. 28 East Coast UK, discharging UKC, has fixed M/T «Hildegaard» at W/S 95 while Gunvor, for same cargo quantity, loading Jan. 27 with same destination, has fixed M/T «Moscow River» at W/S 92.5. – In Caribs, Fina for 70,000 tons of cargo, loading Jan. 26, discharging US Gulf, has fixed M/T «Genmar Minotaur» at W/S 100. – In W. Africa, Exxon for 130,000 tons of cargo, loading Feb. 11 discharging Italy, has fixed M/T «Seasprite» at W/S 62.5. DRY CARGO Sentiment still in favour of Capers. In the East, M/V «Pacific Vitality,» 165,794 dwt, built 1996, has been booked by Kline for an Australian round voyage at USD 8,250 daily. – In the Atlantic, Krupp has fixed M/V «Yue Shan» for 170,000 tons ore, loading Pt. Cartier (Canada) with early Feb. dates, discharging France, at USD 4.9 per ton which equates to abt. USD 11,000-11,500 daily for the round voyage. – Panamax quieter in the Atlantic with market dropping a little although the grain houses are still active. Cargill has fixed M/V «Thalassini Tyhi,» 73,205 dwt, built 1994, delivery UK Jan. 20, trip via US Gulf, redelivery Skaw/Passero at USD 7,800 daily. – On Handies, Red Sea is fairly unexciting market with vessels ballasting to Med./Black Sea. Cont. also quiet, with charterers replacing easily late running vessels at lower freight levels.