Shipping Report

TANKERS North Sea still with some activity, while rates to date having settled around W/S 107.5. – Med remains active with Chevron, Shell and Petrobras fixing cargoes to cover modern Aframax rates at W/S 120, older vessels at W/S 105. – On Suezmax, the market remains firm, especially out of West Africa, with Emeral, Shell and BP Amoco having to cover till end of March. – In the Med., Erg for 80,000 tons of cargo loading March 14 Egypt, discharging Italy, has fixed M/T «Armata» at W/S 95, while Tamoil for same cargo quantity loading March 12-14 Libya, discharging Med., has fixed M/T «Iran Amol» at W/S 122.5. – In the Continent, BP for 80,000 tons of cargo loading March 9 N. Sea, discharging UKC, has fixed M/T «Magnitude» at W/S 107.5. – In Caribs, Orion, 70,000 tons of cargo loading March 16, discharging US Gulf, has fixed M/T «Moscow Kremlin» at W/S 102.5. – In W. Africa, BP for 130,000 tons of cargo loading March 29, discharging US Gulf, has fixed M/T «Sea Racer» at W/S 75. DRY CARGO It is interesting to note that Hansaport’s Cape leg out of Saltanha Bay was split into two Panamaxes, while M/V «Captain Diamantis» has secured USD 19.25 per ton for the traditional grain route US Gulf to Japan. – In the East, there is news of further worsening conditions. Owners now have to agree on arrival to pilot station delivery with ballast bonus. – On Handies, South Atlantic market continues to strengthen. – On Capers, Swiss Marine has fixed M/V «Corona Fury» 171,875 dwt, built 1990, delivery UKC March 8 for 10-12 months period at USD 10,500 daily. – On Panamax in Far East, Cosco has fixed M/V «Navios Magellan» 74,333 dwt, built 2000, delivery March 12 China for 11-13 months period at USD 8,250 daily. – In Atlantic, ABT has fixed M/V «Panthea» 73,317 dwt, built 1997, delivery Italy March 6-10 for 2 legs redelivery Far East at USD 8,600 daily. – On grain cargoes, M/V «Captain Diamantis» for 54,000 tons of cargo loading US Gulf March 14-26, discharging Japan, has fixed at USD 19.25 per ton with 11 days all purposes.

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