ECONOMY

Shipping Report

TANKERS A quiet start with the Cont. market remaining flat on Aframaxes. In the Med., rates continue to pick-up with a number of cargoes still to be fixed. – Caribs quieter with the 70,000-ton cargoes been fixed at W/S 105. – A better picture for the Suezmax. Rates in N. Sea at W/S 80-85. Exxon has fixed M/T «Navion Saga» for 135,000 tons of cargo loading S. Voe (UK) Feb. 21, discharging UKC at W/S 80, while CSSA has fixed Olympic tonnage for same cargo quantity loading Feb. 22 N. Sea with same destination at W/S 85. – In W. Africa, Emerald has fixed M/T «Arteaga» for 130,000 tons of cargo loading Feb. 24, discharging USAC, at W/S 65. – In the Med., Sibneft has fixed M/T «Iran Amol» for 80,000 tons of cargo loading Feb. 25 Russia, discharging Med., at W/S 112.5. – In the Continent, Koch for 90,000 tons of cargo loading Feb. 22 Russia, discharging USAC, has fixed M/T «Glenbuck» at W/S 75. – In Caribs, Orion has fixed PDV tonnage for 70,000 tons of cargo loading Feb. 16, discharging USAC – US Gulf, at W/S 102.5. DRY CARGO In the atmosphere of last week’s slow activity, there is very little reason to justify increased optimism this week, especially with holidays in China, Japan and Korea. – It seems the low freight rates will continue, although there are always cargoes and vessels to be fixed. – On Capers, Pioneer has fixed M/V «Prima II» 136,211 dwt, built 1981, delivery Cape Passero Feb. 5-10 via Brazil, redelivery China, at USD 6,450 daily. – On Panamax in Far East, Deiulemar has fixed M/V «Seamaid» 74,461 dwt, built 1999, delivery Thailand March 10-15 for 12-month period at USD 7,900 daily. while Daeyang has fixed M/V «Great Bless» 73,251 dwt, built 1997, delivery China Feb. 20-25, redelivery Hong Kong, at USD 7,000 daily. – In Atlantic, Korea Line has fixed M/V «Morviken» 72,496 dwt, built 1999, delivery US Gulf end Feb., redelivery Far East, at USD 7,300 daily and USD 130,000 ballast bonus, while BHP Billiton has fixed M/V «Maratha Messenger» 71,252 dwt, built 1995, delivery US Gulf Feb. 17-20 for 3-5 months period at USD 7,500 daily and USD 110,000 ballast bonus. – On smaller sizes, Oldendorff has fixed M/V «Lake Maine» 53,531 dwt, built 2001, delivery Turkey mid-Feb. trip via Black Sea, redelivery Far East, at USD 9,000 daily. The climate had changed when Kohl was asked to celebrate reconciliation together with the four victorious powers, which had set their seal of approval on German reunification. In May 1995, dozens of state leaders celebrated the highly significant jubilee in rotation, in London, Paris, Berlin and Moscow. The subsequent upgrading of Germany aroused mixed feelings in formerly occupied countries about the ethical and political equation of the «good» with the «evil,» the victors with the conquered. Some of them expressed fears that the losers wanted to engage in historical revisionism.