Shipping Report

TANKERS With charterers feeling that the market has bottomed out, they have started fixing VLCCs mainly out of the Arabian Gulf and W. Africa at W/S 35. – On Suezmaxes, the market has shown a slight decline, with freight rates at W/S 67.5 for destination USAC, instead of W/S 72.5 few days ago. – Aframaxes in the Med. at a steady pace with modern tonnage at W/S 120, while Cont. still at W/S 115, with less activity. – On Caribs, the 70,000-ton cargo liftings are fixed at W/S 107.5. – In the Med., BP for 80,000 tons of cargo loading March 22 Russia, discharging UKC/Med., has fixed M/T «Minerva Helen» at W/S 120. – In the Continent, Gunvor for 80,000 tons of cargo loading March 30 Russia, discharging UKC, has fixed M/T «Apageon» at W/S 107.5. – In Caribs, Lyondell for 70,000 tons of cargo loading March 28, discharging US Gulf, has fixed M/T «Eagle Augusta» at W/S 107.5. DRY CARGO Panamaxes remain on the path of recovery, despite the modest decrease in their index of 6 points last week. Period fixtures remain the focus of attention both East and West. M/V «Dione» 75,200 dwt, built 2001, has been fixed by Cosco with delivery March 20-25 Passero for 12 months trading at USD 9,200 daily. – Rates for Handymax in the Atlantic are steadily firming with 48-52,000-dwt size vessels getting USD 11,000 daily for a trip with scrap to S. Korea, while there are rumors that USD 12,000 per day was paid for a grain trip to Japan. – On Panamax in Far East, Kline has fixed M/V «Fen Jin Hai» 69,900 dwt, built 1995, delivery end March China, redelivery Japan, at USD 7,400 daily. – In Atlantic, Joongang has fixed M/V «Belgrano» 74,002 dwt, built 1998, delivery Sweden end March trip via Baltic, redelivery China, at USD 10,100 daily. – On smaller sizes, Combac has fixed M/V «Beth B» 37,585 dwt, built 1983, delivery Antwerp end March redelivery US Gulf at USD 5,950 daily.