ECONOMY

Shipping Report

TANKERS An expected quiet Monday start with rates holding on modern Aframax in the Cont. at W/S 95, except for Primorsk loadings where rates stand at W/S 205 for 90,000 tons of cargoes. – Same conditions in the Med., with modern tonnage at W/S 100 and older at W/S 85. – A quiet start also for Suezmax, with Med. and Cont. at 135,000 tons of cargoes at W/S 65 and W. Africa for 130,000 tons of cargoes at W/S 62.5-65-67.5 with destination US Gulf/USAC/Cont., respectively. – In the Med., Api for 80,000 tons of cargo loading March 8 Syria, discharging UKC / Med., has fixed M/T «New Ace» at W/S 95. – In the Continent, Navion for 80,000 tons of cargo loading March 3 N. Sea, discharging Med., has fixed M/T «Genmar Trust» at W/S 85. – In Caribs, BP has fixed M/T «Rebecca» for 70,000 tons of cargo loading March 13, discharging USAC, at W/S 112.25. DRY CARGO The firm conditions for Capers and Panamaxes are widely expected to further continue throughout the week. – All indexes are moving in the right direction, with Caper’s having been improved by 20 points and Panamaxes by 4. – Relet in Atlantic has started earning profits. A week ago M/V «Alpha Harmony» was fixed to Navios for 3-5 months at USD 8,100 daily and has now been refixed at USD 9,100 daily. – Other positive news with charterers having to carry 50,000 tons of fertilizers from the Baltic Sea to China, with rate ideas at USD 14.50 per ton against owners USD 16.50. Charterers have chosen to wait, as the market has moved against them with owners now asking around USD 20. – Market conditions on smaller sizes unchanged. – On Capers, Mol Navix has fixed M/V «Night Whisper» 172,428 dwt, built 1985, delivery France end Feb. trip via Brazil, redelivery S. Korea, at USD 12,500 daily. – On Panamax in Far East, Damato has fixed M/V «Carol» 75,608 dwt, built 1999, delivery March 9-13 Japan for 12 months period at USD 8,300 daily. – In Atlantic, Baumarine has fixed M/V «Amira» 74,401 dwt, built 2001, delivery Netherlands March 11-15 for 2-3 legs at USD 8,000 daily.