ECONOMY

Shipping Report

TANKERS A quiet start to the week, with rates in Med. holding at W/S 295 for modern Aframaxes. In the same area and on Suezmaxes, OMV has fixed M/T «Searacer» for 135,000 tons of cargo, loading March 31 Egypt, discharging Italy, at W/S 250. – In the N. Sea, March loading seems that they have been covered and for later dates due to oversupply of tonnage rates market moved downward. – Caribs stable, with the 70,000-ton cargo liftings having been fixed at W/S 355. – W. Africa steady, with Sun having fixed M/T «Genmar Zoe» for 130,000 tons of cargo, loading April 13, discharging USAC, at W/S 187.5. – In the Med., Erg for 80,000 tons of cargo, loading March 27 Libya, discharging Med., has fixed M/T «Velimir Skorpic» at W/S 275. – In the Cont., Stasco for 80,000 tons of cargo, loading March 29 for UKC round voyage, has fixed M/T «Olympic Serenity» at W/S 280. – In Caribs, Stasco has fixed Teekay tonnage for 70,000 tons of cargo, loading March 24 East Coast Mexico, discharging US Gulf, at W/S 355. – In W. Africa, Addax has fixed M/T «Euro Sea» for 130,000 tons of cargo, loading April 7, discharging Caribs, at W/S 182.5. – In Arabian Gulf, Vela for 260,000 tons of cargo, loading April 18, discharging US Gulf, has fixed M/T «Astro Libra» at W/S 125. DRY CARGO Atlantic appears to be going from strength to strength, not only on Panamaxes but on Capers too. Hanjin has fixed M/V «Lowlands Rose,» 171,039 dwt, built 1996, delivery Rotterdam end March-beg. April, trip via Boliver, redelivery Turkey, at USD 23,500 daily. – Round voyages for Panamaxes in the Atlantic are running near or above USD 16,000 daily. Medmar has fixed M/V «Seajoy,» 73,454 dwt, built 1999, delivery UK March 17-18, trip via Poland, redelivery Holland, at USD 16,000 daily. – In the East, Cargill has fixed M/V «Fivos,» 69,659 dwt, built 1994, delivery Japan end March, redelivery Far East, at USD 11,500 daily. – On smaller sizes, Pan Ocean has fixed M/V «Aristea M,» 45,584 dwt, built 1997, delivery end March Japan, redelivery Far East, at USD 10,500 daily.