ECONOMY

Shipping Report

TANKERS Steady conditions for Aframaxes in the Med. and Cont., with rates at W/S 360 and W/S 260 respectively. Due to weather, rates are expected to remain firm. – Firmer conditions in Caribs, with a number of fixtures near W/S 400 for 70,000-ton cargo liftings. – Suezmaxes in the Cont. are very active with a number of fixtures at W/S 200 for 135,000-ton cargoes with destination US Gulf, while W. Africa has remained quiet with a number of VLCCs fixtures with destinations East/West. – In the Med., Petraco for 80,000 tons of cargo, loading March 21 Syria, discharging Med., has fixed Olympic tonnage at W/S 360. – In the Cont. on suezmaxes BP for 130,000 tons of cargo, loading March 20, discharging US Gulf, has fixed Genmar tonnage at W/S 195. – In Caribs, Valero for 70,000 tons of cargo, loading March 5, discharging USAC, has fixed M/T «Sea Charm» at W/S 382.5. – In the Arabian Gulf, LG Caltex has fixed M/T «World Creatin» for 270,000 tons of cargo, loading March 25, discharging S. Korea, at W/S 90. DRY CARGO The trading on Capers has slowed down with only a few cargoes being reported and being fixed respectively. Coeclerici in the East has fixed M/V «Kyushu Star,» 142,936 dwt, built 1982, delivery Japan March 10-12, trip via India, redelivery Constanza, at USD 16,000 daily. – Panamax in the Atlantic are very active with strong rates, especially for destinations East. Cargill has fixed M/V «Morviken,» 72,000 dwt, built 1999, delivery Brazil April 1-5, redelivery Far East, at USD 14,500 daily and 425,000 ballast bonus. – The focus in the East has switched to period interest. Kline was said to be now subject to details with the M/V «World Ribbon» for 3 to 5 months’ trading at USD 13,000 daily. – On smaller sizes, HMM has fixed M/V «Pacific Premier» 43,193 dwt, built 1995, delivery US Gulf March 9-10, redelivery Far East, at USD 14,250 daily. – On coal cargoes, Duferco for 70,000 tons of cargo, loading March 5-15 Nigeria, discharging Italy, has fixed M/V «Gao Zhou Hai» at USD 11.15 per ton with 2-day load and 3 days’ discharge.