ECONOMY

Shipping Report

TANKERS Stable conditions in the Med. on Aframaxes, though there are some signs of weakness. – Latest fixtures for 80,000-ton cargoes on round-trip voyages at W/S 345-350, while Suezmaxes still at W/S 255 for Med. trips and W/S 265-270 for cargoes out of the Black Sea. – Cont. still at W/S 260-265, with Murphy having fixed M/T «Vancouver Spirit» for 80,000 tons of cargo, loading March 28 Norway, discharging UKC, at W/S 265. – W. Africa quieter on Suezmaxes but rates are still holding above W/S 182.5 with a number of fixtures also on VLCCs. CPC has fixed M/T «Sunlight Jewel» for 260,000 tons of cargo, loading April 21, discharging Taiwan, at W/S 100. – In the Med., Stasco has fixed M/T «Astro Sirius» for 80,000 tons of cargo, loading mid-March Egypt, discharging USAC, at W/S 285. – In Arabian Gulf, Exxonmobil has fixed M/T «Hyundai Star» for 260,000 tons of cargo, loading April 5, discharging Far East, at W/S 145. DRY CARGO Rates on Handies/Handymaxes continue to firm for N. Atlantic tonnage. Market remains also firm for US Gulf loads. Clipper has fixed M/V «Samsun Earnest,» 33,024 dwt, built 1986, delivery Venezuela March 15-30, trip via US Gulf, redelivery Portugal, at USD 12,000 daily. – Stable conditions in Capers, with Taipower having fixed M/V «Cape Africa» for 130,000 tons of cargo, loading S. Africa April 5-18, discharging Taiwan, at USD 12.49 per ton with 2-day load and 24,000 tons’ discharge, while Noble on ore cargoes has fixed M/V «Lowlands Glory» for 160,000 tons of cargo, loading April 5-15 Brazil, discharging China, at USD 14.25 per ton with 2-day load and 25,000 tons’ discharge. – On T/C, Coscobulk has fixed M/V «Irfon,» 165,628 dwt, built 1996, delivery April 1-10 China for 12 months’ trading, at USD 19,500 daily. – On Panamax in Far East, Dreyfus has fixed M/V «El Flamenco,» 69,351 dwt, built 1989, delivery Taiwan March 11-12, trip via East Coast S. America, redelivery Far East, at USD 11,750 daily. – In Atlantic, Pan Ocean has fixed M/V «Sincere Nova,» 71,982 dwt, built 1998, delivery Brazil March 14-18, redelivery Far East, at USD 15,500 daily and USD 350,000 ballast bonus. – On smaller sizes, SK Shipping has fixed M/V «Top Wisdom,» 47,180 dwt, built 1997, delivery Japan end March, redelivery Far East, at USD 10,500 daily.