ECONOMY

Shipping Report

TANKERS Lower rates in the Med. for modern Aframaxes with latest fixtures at W/S 320-325. – Suezmax rates seem stable at around W/S 265-265.5, with loadings to either Black Sea or Med. Unocal has fixed M/T «British Hunter» for 135,000 tons of cargo, loading Apr. 2, discharging UKC/Med., at W/S 267.5. – Cont. market firm with 80,000-ton cargo liftings being fixed at W/S 280-285. Caribs still trading at W/S 380 for 70,000-ton cargo liftings. – Suezmax market out of W. Africa stable; rates W/S 180-185, destination depending. – In the Med., Chevtex for 80,000 tons of cargo, loading Mar. 26, discharging UKC/Med., has fixed M/T «Genmar Endurance» at W/S 330. – In Caribs, Spi for 70,000 tons of cargo, loading Mar. 28, discharging USAC, has fixed M/T «Genmar Gabriel» at W/S 385. – In W. Africa, El Paso has fixed M/T «Kronviken» for 130,000 tons of cargo, loading Apr. 5, discharging USAC, at W/S 185. DRY CARGO Panamax market in Atlantic firm, with vessels over levels of USD 17,000 daily with destinations East. A ship coming upriver was booked at USD 16,500 daily and USD 450,000 ballast bonus. – In Far East, focus still on T/C period inquiries; in round-trip voyages, Sealink has fixed M/V «Scenery Sea,» 69,365 dwt, built 1991, delivery Mar. 13-17 Taiwan via Australia, redelivery China, at USD11,000 daily. – Capers, after slow start, appear to be stepping up activity with rates firmer, particularly from S. Africa. – Handymax/Handies firm with 50,000-tonners for US Gulf/Japan agreeing on rates around USD20,000 daily. – On Panamax in F. East, Pan Ocean has fixed M/V «Apollon,» 70,101 dwt, built ’94, delivery Japan Mar. 17-19, trip via Indonesia, redelivery S. Korea, at USD10,500 daily. – In Atlantic, Dreyfus has fixed M/V «Denak-a,» 69,993 dwt, built ’97, delivery Brazil end Mar/beg. Apr., redelivery Far, East at USD16,400 daily, USD400,000 ballast bonus. – On smaller sizes, Mur has fixed M/V «Effy N,» 41,824 dwt, built 1983, delivery Muscat end Mar., trip via S. Africa, redelivery Far East, at USD9,750 daily. – On ore cargoes, Shougang has fixed M/V «Fighting Lady» for 130,000 tons of cargo, loading Apr. 1-10 Australia, discharging China, at USD 7.15 per ton with 2-day load and 25,000 tons discharge.