ECONOMY

Shipping Report

TANKERS Last week’s firm rates in the Med. seems like a distant memory with latest fixtures a bit better than W/S 100 for modern Aframax. – New cargoes in the market are those of Noc, Most Erg, and Agip. – Cont. remains firm with highest non-fixture being that of M/T «Minerva Emma» for which 90,000 tons of cargo was fixed by Koch loading Tallin (Russia) Feb. 26-28 discharging UKC at W/S 89. – On Suezmax, Navion ex N. Sea has fixed M/T «Sea Racer» at W/S 65 with destination US Gulf, while W. Africa has shown no more cargoes than those of Sun. – In the Med., Tupras for 80,000 tons of cargo loading beg. March Syria discharging Turkey has fixed M/T «Black Sea» at W/S 105. – In the Cont., Petroplus for 80,000 tons of cargo loading Feb. 26 UK discharging UKC has fixed M/T «Jag Leela» at W/S 85. – In Caribs, Equiva has fixed AET tonnage for 70,000 tons of cargo loading Feb. 25 East Coast Mexico discharging US Gulf at W/S 105. – In W. Africa, Petrobras for 130,000 tons of cargo loading Feb. 27 discharging Brazil has fixed M/T «Front Driver» at W/S 69.5. DRY CARGO A lively Panamax in Caper market remains focus of attention in the chartering market. – In the Atlantic, Grain houses are interested once more for T/C periods. Rumors suggest that USD 8,650 daily was paid for 12 months without other details been known. – The market remains difficult for 30-40,000 dwt, especially out of Continent. A 29,000 dwt bulker was fixed to the East at USD 6,500 daily. – On Capers, BHP billiton has fixed M/V «Tian Rong Hai» 171,861 dwt, built 2000, delivery Japan Feb. 22-28 trip via Australia redelivery Passero at USD 10,000 daily. – On Panamax in Far East, Oetker has fixed M/V «Angelic Peace» 74,768 dwt, built 2001, delivery end Feb. China redelivery UKC at USD 6,500 daily. – In Atlantic, Cargill has fixed M/V «Maddalena d’Amato» 74,160 dwt, built 2001, delivery end Feb. UKC for transatlantic round voyage redelivery UKC/Med. at USD 7,250 daily.