ECONOMY

Shipping Report

TANKERS Busier Med. market on Suezmax with rates at W/S 80 and with a number of cargoes not only from the Black Sea but also from Ceyhan. Alpine won tender for 130,000 tons Ceyhan/Mohammedia off Jan. 16 and fixed M/T «Iran Sarvesta» at W/S 77.5 for Med. and W/S 82.5 for Mohammedia. -W. Africa also has given a number of cargoes but rates remain poor. Koch has fixed M/T «Erati» for 130,000 tons of cargo loading Jan. 31 discharging US Gulf at W/S 60, while Repsol for same cargo quantity loading Jan. 30, discharging Spain, has fixed M/T «Knock Stocks» at W/S 63.75. -In the Continent, Emerald has fixed M/T «Wilma Yangtze» for 130,000 tons loading Mongstad (Norway) Jan. 19 discharging USAC at W/S 65. -*On Aframax, Med. / Cont. and Caribs remain quiet. -Erg has fixed Iranian tonnage for 80,000 tons of cargo loading Jan. 15 Syria discharging Italy at W/S 105, while Petraco for same cargo quantity loading Jan. 15 Russia, discharging Med., has fixed M/T «Panaghia Armata» at W/S 102.5. -In the Cont., BHP has fixed Aet tonnage for 80,000 tons of cargo loading Jan. 15 discharging UKC at W/S 100, while Koch for same cargo quantity loading Jan. 15, discharging US Gulf, has fixed M/T «Eagle Atlanta» at the same levels. -In Caribs, Farmland for 70,000 tons of cargo loading Jan. 11 Colombia, discharging US Gulf, has fixed M/T «Eurydice» at W/S 132.5. DRY CARGO Sentiment is still positive and this is reflected in rises in all Baltic indices. -On Capers, very little is being reported with the exception of M/V «An Angel Solidarity» 161,545 dwt, built 1993, fixture at USD 7,500 daily for a long Pacific round voyage. -Panamaxes continue their gains in both East and West. -In the Atlantic and in the short T/C periods, Navios has fixed M/V «Sea Ilex» 62,873 dwt, built 1991, delivery Jan. 12-15 for 4-6 months first leg St Lawrence/US Gulf at USD 6,500 daily. -The market is still focused for Handymax fixtures out of Black Sea. PanOcean has fixed M/V «American Trader» 45,262 dwt, built 1994, delivery Turkey mid Jan. trip via Black Sea, redelivery Far East, at USD 9,500 daily. -On smaller sizes, Bulk Shipping has fixed M/V «Baha Karahasan» 48,891 dwt, built 1983, delivery S. America end Jan. redelivery USAC at USD 10,000 daily and USD 30,000 ballast bonus.