Shipping Report

TANKERS Quiet conditions persist, with Suezmax market at W/S 60-65 irrespective of area, while the Med. on Aframaxes seems weaker with a number of vessels ready for Feb. loading dates, while market moved for March cargoes. – Cont. seems more active but rates still at W/S 80-85, while in Caribs the 70,000-ton cargoes are fixed at W/S 100. – In the Med., Erg for 80,000 tons of cargo loading Feb. 28 Russia, discharging UKC/Med., has fixed M/T «Westminster» at W/S 105, while Petrus for same cargo quantity loading Feb. 27 Russia, discharging Med., has fixed M/T «Vergina II» at W/S 115. – In the Continenet, Gunvor for 80,000 tons of cargo loading Feb. 21 Russia, discharging UKC, has fixed M/T «Valiant» at W/S 85. – In Caribs, Atmi for 70,000 tons of cargo loading Feb. 25, discharging US Gulf, has fixed M/T «Continental» at W/S 102.5. – In W. Africa, Addax has fixed M/T «Genmar Harriet» for 130,000 tons of cargo loading March 8, discharging US Gulf, at W/S 62.5. DRY CARGO Market remains active, especially in Capers and Panamaxes with their indexes moving up by 11 and 12 points, respectively. – In Capers, strong interest is shown on T/C periods with Cobam or Cobelfret having fixed the newly built M/V «Formosa Bulk Energy» 170,000 dwt, for 5 years at USD 15,200 daily, while Deiulemar has fixed M/V «Cape Maria» 177,754 dwt, built 1982, delivery Continent end Feb. for 2 years trading at USD 10,500 daily 1st year and USD 11,500 2nd year. – Activity is also picking up on Panamax in the Atlantic, with rates having shifted from low USD 7,000 plus USD 100-110,000 ballast bonus close to USD 8,000 daily and USD 180,000 ballast bonus for modern units US Gulf/Far East run. – In Far East and on Panamax, Enel has fixed M/V «Princess Natalie» 70,242 dwt, built 1989, delivery Japan Feb. 18-20 for 4-6 months period at USD 6,900 daily. – In Atlantic, Bottiglieri has fixed M/V «Nordelbe» 75,000 dwt, built 2001, delivery Gibraltar end Feb. for 4-6 months period at USD 8,500 daily. – On smaller sizes, Fayette has fixed M/V «LMZ Troodos» 35,400 dwt, built 1983, delivery Russia end Feb. trip via Arabian Gulf, redelivery Muscat at USD 7,150 daily.