ECONOMY

Shipping Report

TANKERS Still very limited activity both in the Cont. and Med. with Aframax rates drifting down to W/S 95 and W/S 97.5, respectively. – Caribs more active, despite the number of fixtures at the prevailing rate of W/S 97.5 for the 70,000 tons cargo liftings. – The Suezmax market is quieter with Sempra out of N. Sea, destination US Gulf, to fix at W/S 62.5 for 135,000 tons of cargoes. while Exxon out of Palanca (W. Africa) for 130,000 tons loading Feb. 20, discharging Trieste, has fixed M/T «Georgios S» at W/S 60. – In the Med., Lukoil for 80,000 tons of cargo loading Feb. 2 Black Sea, discharging Med., has fixed M/T «Seaborn» at W/S 80. – In the Continent, PNP for 80,000 tons of cargo loading Feb. 4 Russia, discharging UKC, has fixed M/T «Molda» at W/S 102.5. – In Caribs, Atmi for 70,000 tons of cargo loading Jan. 31, discharging US Gulf, has fixed M/T «Nordocean» at W/S 97.5. DRY CARGO Good news is limited these days in the chartering market, with freights continuing their downward trend. – In the Far East, the newly built M/V «Fu May» 76,300 dwt, was fixed at USD 7,250 daily delivery Ex Yard S. Korea Jan. 24 trip via Indonesia redelivery Japan. – In the same area, Kline has fixed M/V «Transgiant» 71,665 dwt, built 1993, delivery end Jan. Tokyo bay trip via Australia, redelivery Japan at USD 6,800 daily. – Handymax rates in the Black Sea remain satisfactory at around USD 9,000/9,500 daily. However, less sophisticated tonnage is much more difficult to cover. Some owners, in order to show their flexibility and acquire business, are cutting their cargo size in order to fix cargoes. There are reports that a 40,000 dwt vessel was offered for a 25,000- ton cargo. – In Far East, Pan Ocean has fixed M/V «Medi Kobe» 75,000 dwt, built 2001, delivery end Jan. Japan, redelivery UKC/Med., at USD 6,300 daily. – In Atlantic, Cobelfret has fixed M/V «Eternal Wind» 71,372 dwt, built 1997, delivery Jan. 25-30 Passero for 2-4 months period at USD 7,200 daily. – On smaller sizes, Samsun has fixed M/V «Hidir Bey» 42,964 dwt, built 1984, delivery Brazil end Jan. – beg. Feb., redelivery UKC, at USD 6,550 daily and USD 40,000 ballast bonus.