ECONOMY

Shipping Report

TANKERS Market conditions remain quiet likely attributed to I.P. week. – Cont. despite activity and an increased number of fixtures, rates on modern Aframax have not moved higher than W/S 95-97.5. – The Med. has rates of no better than W/S 102.5 for modern tonnage and is quiet on the Suezmax frontier. – Caribs are stable with a number of fixtures at W/S 105 for the 70,000-ton cargo liftings, while W. Africa on Suezmax with minor activity. – In the Med., NOC for 80,000 tons of cargo loading Feb. 26 Libya, discharging Med., has fixed M/T «Atalandi» at W/S 95. – In the Continent, Veba for 80,000 tons of cargo loading Feb. 26 UK, discharging UKC, has fixed M/T «Stena Akarita» at W/S 90. – In Caribs, Valero for 70,000 tons of cargo loading March 4, discharging US Gulf, has fixed M/T «Pacific Sapphire» at W/S 100. – In W. Africa, Sun has fixed M/T «Front Striver» for 130,000 tons of cargo loading March 15, discharging USAC, at W/S 65. DRY CARGO There seems to be no holding the Capers even though there are some conflicting fixture reports. Their index moved upward by 30 points, totaling 1225. – NYK has fixed M/V «Obeliks» 170,000 dwt, built 2000, delivery Germany end Feb. – beg. March trip via Brazil, redelivery Japan, at USD 12,000 daily. – On Panamax, Atlantic is still looking stronger than the East and putting pressure on charterers they want to fix West to East. Korea Line has fixed M/V «Samjohn Amity» 74,744 dwt, built 1998, delivery US Gulf March 5-10, redelivery Far East, at USD 8,300 daily and USD 180,000 ballast bonus. – Steadier levels for Handy/Handymax. – On Capers, Hanjin has fixed M/V «Kwk Genesis» 168,404 dwt, built 1996, delivery Korea, March 10-15 trip via Indonesia, redelivery Continent, at USD 10,250 daily. – On Panamax in Far East, Cosco has fixed M/V «Triton» 75,079 dwt, built 2001, delivery Thailand March 10-20 for 10-12 months period at USD 8,400 daily. – In Atlantic, Armada has fixed M/V «Yong Ler» 74,500 dwt, built 2001, delivery France end Feb. for 3-5 months period at USD 8,250 daily.