ECONOMY

Shipping Report

TANKERS Easier conditions on Aframaxes in the Med., with owners, in spite of the supply of tonnage, insisting on present levels. Modern Aframaxes are fixed at W/S 330-340 for cross cargoes with ’80s-built tonnage at W/S 270-290. – Cont. seems busier, with firmer rates. BP has fixed M/T «Poul Spirit» for 80,000 tons of cargo, loading March 31 N. Sea, discharging UKC, at W/S 280. – Stable conditions on Suezmaxes, with less inquiry in W. Africa, due to the increased number of VLCCs fixtures. – In the Med., NOC for 80,000 tons of cargo, loading mid-March Libya, discharging Tunisia, has fixed M/T «Vigour» at W/S 345. – In the Cont., CSSA has fixed M/T «Navion Scotia» for 80,000 tons of cargo, loading March 24 N. Sea, discharging UKC, at W/S 265. – In Caribs, Adam for 70,000 tons of cargo, loading March 20, discharging US Gulf, has fixed M/T «Overseas Shirley» at W/S 390. – In W. Africa, El Paso has fixed M/T «Kronviken» for 130,000 tons of cargo, loading April 5, discharging USAC, at W/S 185. – In the Arabian Gulf, Vitol for 270,000 tons of cargo, loading April 3, discharging S. Korea, has fixed M/T «Formosa P. Chall» at W/S 157.5. DRY CARGO Capesizes rates appear to be easing for Atlantic traders, with Panamaxes in the same area enjoying firm figures. – Worthington has fixed M/V «Adriatica Graeca,» 74,133 dwt, built 2001, delivery March 15-17 Hamburg for an East Coast S. American round-voyage, at USD 14,000 daily. – Rates on Handies/Handymaxes in the US Gulf remain strong. An early 1980s-built 29,000-tonner could comfortably fix at a rate in the mid-high USD 9,000 daily for a trip to the Med., and in the high USD 12,000 daily range for a trip to the East. – In the Pacific, Bottiglieri has fixed M/V «Iran Azarbaijan,» 72,642 dwt, built 2000, delivery March 10-14 Indonesia, for 2-3 legs, at USD 11,350 daily and USD 120,000 ballast bonus. – In the Atlantic, Torm has fixed M/V «Darya Preeth,» 73,081 dwt, built 1995, delivery mid-March Portugal, for 3-5 months’ period, at USD 14,700 daily. – On smaller sizes, IVS has fixed M/V «Cyclades,» 35,064 dwt, built 1981, delivery S. Africa March 11-13, redelivery UKC, at USD 9,000 daily. – On coal cargoes, Cargill for 160,000 tons of cargo, loading S. Africa April 4-14, discharging UK, has fixed M/V «Pergamos» at USD 10.35 per ton with 2 days’ load and 45,000 tons’ discharge.