ECONOMY

Shipping Report

TANKERS The Aframax market in the Continent appears active, although rates maintain W/S 85 levels. – Med. remains firm, with few cargoes still to be fixed out of the Black Sea. Due to tight supply of modern tonnage for 20-24 dates, agreed rates as high as W/S 127.5, i.e. Koch, has fixed M/T «Panagia Armata» for 80,000 tons of cargo loading Feb. 21 Russia discharging Med at W/S 127.5. – Caribs still at W/S 100-105 for the 70,000 tons cargo liftings. – More fixing is going on in Vlccs, although Suezmaxes are still at low levels. Exxon has fixed M/T «Sea Princess» for 130,000 tons of cargo loading March 7 discharging US Gulf at W/S 61.25. – In the Med., Erg for 80,000 tons of cargo loading Feb. 22 Russia discharging Med. has fixed M/T «Windsor» at W/S 105 while Koch for same cargo quantity loading Feb. 20 Black Sea discharging USAC/US Gulf has fixed M/T «Oak» at same levels. – In the Continent, Valero has fixed M/T «Eagle Austin» for 80,000 tons of cargo loading Feb. 12 Germany discharging ECC/USG-AC at W/S 85/72.5/82.5 respectively. – In Caribs, Veba has fixed M/T «Sabine Spirit» for 70,000 tons of cargo loading Feb. 20 Venezuela discharging USG-AC at W/S 105. DRY CARGO Another quiet day, although Capers appear to be maintaining their upward pressure as shown in some of last week’s fixtures just emerging. – Panamaxes in the Atlantic are also firmer, with PCL having fixed M/V «Mass Enterprise» 69,555 dwt, built 1993, delivery Ireland for 2 laden legs via Nouadhibou redelivery Skaw-Passero at USD 6,900 daily. – There has been a busy time in the US Gulf for Handies and Handymaxes. A grain house has been bidding an 84 blt, 39,500 dwt vessel at USD 6,500 daily versus owners ideas of USD 7,500 basis dely aps US Gulf mid-Feb. for TC trip redelivery Turkey. – On Panamax in Far East Hanjin has fixed M/V «Sea Daisy» 72,270 dwt, built 1999, delivery Korea mid-Feb. via Nopac redelivery Taiwan at USD 6,000 daily. – In Atlantic, PCL has fixed M/V «Mass Enterprise» 69,555 dwt, built 1993, delivery Ireland mid-Feb. for 2 laden legs via Nouadhibou redelivery Skaw-Passero at USD 6,900 daily. The squadron flies C-2A Greyhounds, a twin-engine cargo aircraft designed to land on aircraft carriers. Powered by two T-6 turboprop engines, the C-2A can deliver passengers and a payload of up to 10,000 pounds.