ECONOMY

Shipping Report

TANKERS The Med. market is busier, with Erg having fixed at W/S 107 and other fixtures being concluded at W/S 105. – Cont. remains quiet with normal round voyages at W/S 90, except in Primorsk (Baltic Sea) where premiums always apply. CSSS has fixed M/T «Natura» for 87,000 tons of cargo loading Feb. 13, discharging UKC, at W/S 210. – Caribs with a number of fixtures ranging from W/S 105 to W/S 110. Chevron/Texaco for 70,000 tons of cargo loading Feb. 2 East Coast Mexico, discharging US Gulf, has fixed M/T «Kuban» at W/S 110. – Suezmax market still weak with W. Africa paying W/S 60 for US Gulf, W/S 62.5 for USAC and W/S 65 for Cont./Med. – In the Med., Dea has fixed M/T «Atlantic Hero» for 80,000 tons of cargo loading Feb. 9 Syria, discharging Med., at W/S 100. – In the Continent, CSSSA for 80,000 tons of cargo loading end January UK, discharging UKC, has fixed M/T «Iran Saverstan» at W/S 100. – In Caribs, Valero for 70,000 tons of cargo loading Colombia Feb. 2, discharging US Gulf, has fixed M/T «Nordisle» at W/S 102.5. – In W. Africa, Koch for 130,000 tons of cargo loading Feb. 25, discharging US Gulf, has fixed M/T «Sea Star» at W/S 60. DRY CARGO The weak freight rates still persist and nobody can foresee when present crisis will subside. – On Capers, Transfield has fixed M/V «Aquagem» 167,102 dwt, built 1997, delivery Amsterdam Feb. 8-9 trip via Brazil, redelivery China, at USD 9,500 daily. – On Panamax and for grain cargoes out of US Gulf, ADM for 60,000 tons of cargo loading Feb. 1-10, discharging Egyptian Med., has fixed at USD 9.65 per ton with 10,000-ton load and 10,000 tons discharge. – Surprisingly firm rate levels of USD 5/500 daily are mentioned for modern tonnage of 12-13,000 dwt for trips from NCSA to the US Gulf. Similar rates are achievable for business back to WCSA. – On Panamax in Far East, Cargill has fixed M/V «Monte Pelmo» 72,917 dwt, built 2000, delivery Pakistan Feb. 5-15 for 5-7 months period at USD 7,250 daily. – In Atlantic, Samsun has fixed M/V «Sea Ilex» 66,041 dwt, built 1990, delivery US Gulf Feb. 1-15, redelivery Far East, at USD 7,000 daily and USD 100,000 ballast bonus. – On smaller sizes, MCL has fixed M/V «Power» 27,023 dwt, built 1977, delivery S. Africa 6-12 Feb., redelivery UKC/Med., at USD 5,250 daily.