ECONOMY

Shipping Report

TANKERS With minor activity in the N. Sea and the Baltic area and with enough early tonnage, rates have further softened at W/S 90 for cross voyages. Murphy has fixed M/T «Clare Spirit» with 80,000 tons of cargo, loading Jan. 24 Norway, discharging UKC at W/S 90. – Med. market also weak, with some marginally higher numbers for relatively prompt positions, while Caribs with a number of fixtures at W/S 100 for the 70,000-ton-cargo round-trip voyages. – Suezmax with good demand out of W. Africa but at W/S 67.5 for all Atlantic options. – In the Med., Gunvor for 80,000 tons of cargo, loading mid Jan. Black Sea, discharging Med., has fixed at W/S 99.5. – n the Continent, BHP has fixed M/T «Eagle Atlanta» for 80,000 tons of cargo, loading Jan. 24, discharging UKC at W/S 100. – In Caribs, Citgo for 70,000 tons of cargo, loading Jan. 27 Venezuela, discharging US Gulf, has fixed M/T «Genmar Gabriel» at W/S 100. – In W. Africa, BP for 130,000 tons of cargo, loading Feb. 6, discharging UKC, has fixed M/T «Solviken» at W/S 67.5. DRY CARGO Panamaxes remain the focus of attention but scepticism is widespread that present surge may be only short-lived. – The unexpected demand for more grain cargoes out of US Gulf for China had a very good impact on the traditional grain route Gulf/Japan with Tomen having fixed for 54,000 tons of cargo, loading end Jan. at USD 18.85 per ton with 11 days all purposes. – On smaller sizes, there is nothing moving out from Argentina and demand for Brazil is marginal. The South American west coast is also fairly quiet. – On Capers, Cargill has fixed M/V «Tian Sheng Hai» 169,420 dwt, built 1997, delivery Singapore early Feb. for 11-13 months period at USD 10,900 daily and USD 100,000 ballast bonus. – On Panamax in Far East, Cargill has fixed M/V «Eastern Queen» 70,200 dwt, built 1994, delivery S. Japan end Jan. for 4-6 months at USD 7,250 daily, while Oetker has fixed M/V «An Angel Omonia» 73,519 dwt, built 1996, delivery China end January for 6-8 months at USD 7,750 daily. – In Atlantic, Wilmar has fixed M/V «Cinzia d’Amato» 74,716 dwt, built 2000, delivery Jan. 20-25 US Gulf, redelivery China at USD 7,700 daily and 170,000 ballast bonus. – On smaller sizes, Cafimar has fixed M/V «Sea Sparkle» 38,380 dwt, built 1984, delivery Rotterdam Jan. 16-20 for 2 laden legs via Turkey-Black Sea at USD 6,500 daily.