ECONOMY

Shipping Report

TANKERS Conditions are the same as the day before yesterday, with new cargoes in scarcity. The only exception is with Ice class ships with cargoes out of Primorsk in the Baltic being fixed at W/S 217.5 for 93,000 tons of cargoes. – Otherwise, Cont. and Med. at W/S 100 as well as Caribs for 70,000 tons cargo liftings. – Quiet conditions for Suezmax out of W. Africa and N. Sea. Stasco for 135,000 tons of cargo loading Norway, discharging Rotterdam, has fixed M/T «Knock An» at W/S 72.5, while Emerald for same cargo quantity loading Feb. 11 to 13 N. Sea, discharging USAC/US Gulf, has fixed Genmar TBN at W/S 65. – In the Med., Erg for 80,000 tons of cargo loading Feb. 4 Egypt, discharging Italy, has fixed Iranian Tonnage at W/S 97.5. – In the Continent, Lukoil for 80,000 tons of cargo loading Feb. 6 Baltic Sea, discharging UKC, has fixed M/T «Athina M» at W/S 250. – In Caribs, BP has fixed M/T «Spore Spirit» for 70,000 tons of cargo loading Jan. 26, discharging US Gulf, at W/S 105. – In W. Africa, Dreyfus for 130,000 tons loading Feb. 15, discharging UKC, has fixed M/T «Sea Magic» at W/S 65. DRY CARGO Market in a downward trend with very little hope for a short-term reversal. Prompt tonnage is piling up in all markets. – The decline in the Panamax market is not surprising nor unexpected. Last week’s sudden upward movement was proved unfounded. – Very little is going on for Tweendeck tonnage in US Gulf. A Neptune-type vessel was traded at USD 4,000 daily with destination Med., while the same vessel was offered at USD 5,000 daily for a trip to WCSA. – On Capers, Samsun has fixed M/V «Gladiator» 150,000 tons dwt, built 1983, delivery Cape Passero early Feb. for 12 months at USD 7,000 daily. – On Panamax in Far East, M/V «Fanari» 64,135 dwt, built 1982, delivery end January Taiwan trip via Australia, redelivery China, has fixed at USD 6,000 daily. – In Atlantic, Minfreight has fixed M/V «Dione» 75,000 dwt, built 2001, delivery US Gulf Feb. 1-4, redelivery UKC/Med., at USD 7,700 daily and USD 200,000 ballast bonus. – On smaller sizes, IMT has fixed M/V «Arete» 40,213 dwt, built 1989, delivery Japan Jan. 17-22, redelivery Far East, at USD 7,200 daily.