ECONOMY

Shipping Report

TANKERS Market is weakening in the Med., with modern Aframax at W/S 280. – The picture is similar in the N. Sea. The slide has started, with latest fixtures losing 20 points from the previous. BP has fixed Stentex tonnage for 80,000 tons of cargo, loading East Coast UK April 1-2, discharging UKC, at W/S 260. – Caribs weaker, with 70,000-ton cargo liftings having been fixed at W/S 330-335. Premcor has fixed M/T «Clyde Spirit,» loading March 26, discharging US Gulf, at W/S 330. – Suezmax stable in W. Africa, with minor inquiry. – In the Med., Newton for 80,000 tons of cargo, loading April 1 Black Sea, discharging Med., has fixed M/T «Four Bay» at W/S 295. – In the Cont., Exxonmobil has fixed M/T «Bali Sea» for 86,000 tons of cargo, loading end March-beg. April for UK round voyage, at W/S 252.5. – In Caribs, Koch for 70,000 tons of cargo, loading March 22, discharging US Gulf, has fixed M/T «Columbia Spirit» at W/S 332.5. – In W. Africa, Sun for 130,000 tons of cargo, loading April 9, discharging USAC, has fixed M/T «Front Driver» at W/S 190. DRY CARGO Capesize rates remain very strong, with the Baltic Capesize index up 25 points to 2,573. – Owners with 170,000 tonners in the Atlantic are looking for USD 35,000 daily for the run East, while charterers are now talking just over USD 30,000 daily. – In the East, rates continued to improve with a 161,000-tonner booked for the round voyage at USD 27,000 daily. – Panamax market in the Atlantic very strong, with rates for grain cargoes Gulf/Japan around USD 29.75 per ton. – East market is improving, with Cargill fixing M/V «Attila,» 73,049 dwt, built 1997, delivery end March China, for short T/C period, at USD 13,500 daily. – Handy / Handymaxes rates remain strong. – In the Atlantic, Transgrain has fixed M/V «Avra,» 64,854 dwt, built 1982, delivery Rotterdam end March, trip via UKC and Saudi Arabia, redelivery Aden-Muscat, at USD 15,000 daily. – On smaller sizes, MCL has fixed M/V «Tolmi,» 30,976 dwt, built 1989, delivery March 17-24 S. Africa, redelivery US Gulf, at USD 8,900 daily.