ECONOMY

Shipping Report

TANKERS Suezmax market remains weak in all areas with limited inquiry and availability of tonnage. – Aframax rates remains stable, maintaining the last low levels with the Med. at W/S 105, Cont. at W/S 90 and Caribs at W/S 105 for the 70,000-ton cargo liftings. – In the Med., Naftex has fixed M/T «Panaghia Armata» for 80,000 tons of cargo loading Feb. 6 Odessa, discharging Med., at W/S 102.5. – In the Continent, Repsol for 80,000 tons of cargo loading Jan. 31 Denmark, discharging Spain, has fixed M/T «Bergitta» at W/S 102.5. – In Caribs, Exxon for 70,000 tons of cargo loading Feb. 3 East Coast Mexico, discharging US Gulf, has fixed M/T «Amazon Gladiator» at W/S 105. – In W. Africa, Exxon has fixed M/T «Spirit» for 130,000 tons of cargo loading Feb. 11, discharging Med. at W/S 65. DRY CARGO The Baltic Index continues to fall having lost another 2 points totaling to 908. – Activity on Capers very limited in the Atlantic, while in Far East it shows currently a USD 1,200 daily differential. – Fewer Panamax cargoes in the Atlantic with Dreyfus having fixed M/V «Corato» for 58,000 tons of grain loading US Gulf February 1-10, discharging Italy at USD 11.00 per ton with 8,000-ton load and 6,000 tons discharge, while Lorico for 50,000 tons of cargo loading February 5-20 Argentine, discharging Jordan, has fixed at USD 18.00 per ton with 5,000-ton load and 3,000 tons discharge. – On the smaller sizes, sugar cargoes from Cuba continue to appear increasingly in the market, as well as rice cargoes from the East to a number of destinations. – On Panamax in Far East, FWA has fixed M/V «Lacerta» 71,900 dwt, built 1994, delivery beg. February Japan trip via Australia, redelivery UKC at USD 6,750 daily. – In Atlantic, Swiss Marine has fixed M/V «Panacea» 73,317 dwt, built 1997, delivery beg. February Spain for 3-5 months period at USD 7,150 daily. – On smaller sizes, Armada has fixed M/V «Alexander Dimitrov» 38,524 dwt, built 1985, delivery beg. February Colombia, redelivery Brazil at USD 4,500 daily. But EDA did not dissolve when its parliamentary strength was reduced to nothing, because it received strong support from communist voters. In fact, the election that gave victory to Papagos dissolved the Center Union party and kept it out of power for 11 consecutive years. EDA’s survival and its political and social action made it a force to reckon with. In 1956 – following the foundation of the National Radical Union (EPE) by Constantinos Karamanlis on January 4 – EDA was able to discuss cooperation with Spyros Markezinis and cooperate – on an electoral if not governmental level – with the Democratic Center of Giorgos Papandreou and Sophocles Venizelos, forming the Democratic Union which won the most votes in the February elections, though not the most seats; EPE won 165. This was a great moment for EDA, which in this way secured its own political legitimacy.