ECONOMY

Shipping Report

TANKERS Market in the Med. for double tonnage at W/S 275, while on the Cont., the latest fixtures are at W/S 260 and expected to decline due to absence of fresh demand. – Caribs stable, with a number of fixtures at W/S 355 for the 70,000 tons of cargo liftings. – Suezmax quieter in all areas. – In the Med., TAMOIL, for 80,000 tons of cargo, loading March 25 Libya, discharging Med., has fixed M/T «Minerva Concert» at W/S 295. – On the Cont., CONOCO, for 80,000 tons of cargo, loading April 5, discharging US Gulf, has fixed M/T «Bering Sea» at W/S 300. – On Suezmaxes, El Paso has fixed M/T «Wilma Yangtze» for 135,000 tons of cargo, loading April 11 N. Sea, discharging USAC, at W/S 201.25. – In Caribs, Blanchard has fixed M/T «Sentinal» for 70,000 tons of cargo, loading March 25 East Coast Mexico, discharging US Gulf, at W/S 347.5. – In W. Africa, Hess has fixed M/T «Oliver Jacob» for 130,000 tons of cargo, loading April 12, discharging St Croix, at W/S 187.5. DRY CARGO Rates remain strong generally for Capesize tonnage in all areas. Charterers are bidding tonnage at USD 15.00 per ton for a May 1-10 ore cargo from Brazil to China. – On the long T/C periods, IVS took the M/V «Anangel Eternity,» 171,101 dwt, built 1999, delivery China May 1-15 for about five years’ trading at USD 15,500 daily. – On Panamaxes, the focus has switched in the East. Rates are starting to move up rapidly, with charterers having to secure tonnage for short periods to guarantee cover for their cargoes. – Atlantic still firm, mainly with destination East. – Handymax rates continue to climb. – On Panamaxes in Far East, Coeclerici has fixed M/V «Yong Tong,» 74,382 dwt, built 2001, delivery March 25-30 for 5-7 months’ trading at USD 13,900 daily. – In Atlantic, Transgrain has fixed M/V «Avra,» 64,854 dwt, built 1982, delivery Rotterdam, trip via Hamburg, redelivery Saudi Arabia, at USD 15,000 daily. – On smaller sizes, Levant has fixed M/V «Megalohari,» 37,677 dwt, built 1984, delivery end-March Denmark, redelivery Far East, at USD 12,000 daily. – On coal cargoes, TKS for 150,000 tons of cargo, loading Australia April 10-20, discharging Rotterdam, has fixed M/V «Marvelous» at USD 15.25 per ton, with 45,000-ton load and 25,000-ton discharge.