ECONOMY

Shipping Report

TANKERS – On Suezmax, W. Africa seems to have covered all cargoes till mid Feb. dates with owners of prompt tonnage to expect vessels to miss cancelings or cargoes later than the 15th. – In the N. Sea, rates have held slightly above the previous week’s levels and there appear to be barrels for sale prior to Feb. 10-12. – Aframax market remains weak with latest fixtures in the Med. at W/S 100 and W/S 97.5 in the Continent. – In Caribs, rates have fallen even lower than W/S 100, although fog delays have been reported in the US Gulf, which can quickly affect this particular market. – In the Med., Stasco for 80,000 tons of cargo loading Jan. 24 Russia, discharging Med., has fixed M/T «Nassau Spirit» at W/S 100, while Veba for same cargo quantity loading Jan. 28 Syria, discharging Trieste, has fixed M/T «Framura» at W/S 97.5. – In the Continent, Alpine for 80,000 tons of cargo loading Jan. 23 UK, discharging UKC, has fixed M/T «Vancouver Spirit» at W/S 97.5. – In Caribs, Equiva has fixed M/T «Deneb» for 70,00 tons of cargo loading Jan. 26 East Coast Mexico, discharging US Gulf at W/S 95. DRY CARGO Slow start with holiday in States and quieter Capers’ market. – On Panamaxes in the East there is still confusion as to the real market levels with some owners trying to improve and others cutting their rates to secure business. – On Capers, Deiulemar has fixed M/V «Mykonos,» 194,109 dwt, built 1981, delivery France Feb. 9-18 for Transatlantic round voyage, redelivery UKC, at USD 8,000 daily. – On Panamax in Far East, Iril has fixed M/V «Afovos,» 74,297 dwt, built 2001, delivery S. Japan Jan. 26 trip via Nopac and Iran, redelivery Muscat, at USD 8,400 daily, while Cosco Europe has fixed M/V «Jin Tai» newly built, 74,000 dwt, delivery Japan for 11-13 months at USD 8,150 daily. – In the Atlantic, Transfield has fixed M/V «Cos Intrepid» 74,119 dwt, built 2001, delivery US Gulf Feb. 1-10, redelivery Continent, at USD 7,400 daily and USD 140,000 ballast bonus, while Oldendorff has fixed M/V «World Romance» 73,880 dwt, built 1999, delivery Antwerp end Jan. trip via US Gulf, redelivery Thailand, at USD 8,350 daily.