ECONOMY

Shipping Report

TANKERS The Med. market appears more active, with a number of Suezmax cargoes mainly out of the Black Sea. Rates, however, are still hovering around W/S 70. – W. Africa also has started to present new cargoes mainly for end Feb. loadings. Rates are ranging between W/S 60-65. – More Aframax cargoes in the Med. out of Syria / Black Sea with modern tonnage securing around W/S 100. – Cont. quiet as well as Caribs, with the 80,000 and 70,000 tons of cargoes at W/S 95 and W/S 102,5 respectively. – In the Med., Api for 80,000 tons of cargo loading Feb. 10 Syria discharging Med. has fixed M/T «Genmar Trader» at W/S 95. – In the Continent, BP has fixed M/T «Fosna» for 80,000 tons of cargo loading Feb. 2 N. Sea discharging UKC at W/S 92.5. – In Caribs, Vitol for 70,000 tons of cargo loading Feb. 2 discharging usac has fixed M/T «Afragold» at W/S 97.5. – In W. Africa, Stasco for 130,000 tons of cargo loading Feb. 20 discharging US Gulf has fixed M/T «Genmar Zoe» at W/S 62.5. DRY CARGO The dull market conditions persist and are unlikely to change for a while. – Baltic indexes continue to fall but on a more moderate scale. – Continent is quiet for almost all sizes, with some fertilizers and grain cargoes quoted to the Med. and Morocco. Many charterers elect to work, prompt bringing owners in line with their ideas more easily. – On Capers, Swiss Marine has fixed M/V «Sea Grace» 157,600 dwt, built 1994, delivery China end Jan. for 10-12 months period at USD 10,600 daily. – On Panamax in Far East, Noble has fixed M/V «Anangel Enosis» 73,556 dwt, built 1995, delivery Japan end January for 3-5 months period at USD 7,500 daily. – In Atlantic, Sinotrans has fixed M/V «Amalia» 75,100 dwt, built 2000, delivery Skaw end January redelivery China at USD 7,350 daily. – On smaller sizes Dreyfus has fixed M/V «Baha Karahasan» 48,891 dwt, built 1983, delivery beg. February US Gulf redelivery Red Sea at USD 8,250 daily. So, as soon as there is a new, legal conveyance instrument, the reasons for the cancellation will be removed and the museum can go ahead. This is the formal aspect. The heart of the matter is whether the government can recognize the historical significance of constructing such a museum, which puts Athens on an international footing and brings Athenians into contact with the artistic legacy of the 20th century. And it is a question of whether the government can rise above the pettiness, self-interest and pressures of third parties, and can shoulder its responsibilities. Will it reject a significant collection and the gift of a museum?