ECONOMY

Shipping Report

TANKERS Busier Med. market at stable levels with modern at W/S 250-255 and older at W/S 205-210. – Cont. quieter with lesser inquiry. On Suezmaxes BP has fixed M/T «Sacramento» for 135,000 tons of cargo, loading April 8 Black Sea, discharging UKC/Med., at W/S 217.5. – Caribs continues the downward trend with the 70,000 tons cargo liftings been fixed around W/S 300. Chemoil has fixed M/T «Lynncraig,» loading March 27, discharging US Gulf, at above said levels. – W. Africa market with oversupply of Suezmax tonnage, each cargo receiving 5-6 offers. Rates at W/S 180 with States / Cont. destination. – In the Med. Naftex for 80,000 tons of cargo, loading April 2 Russia, discharging Med., has fixed M/T «Gerani» at W/S 240. – In Caribs Stasco for 70,000 tons of cargo, loading March 24, discharging US Gulf, has fixed M/T «Sks Tagus» at W/S 340. – In W. Africa, Petrogal for 130,000 tons of cargo, loading April 17, discharging Portugal, has fixed M/T «Seavoyager» at ws/ 180. DRY CARGO Capesize rates remain strong in Atlantic with Sasol having fixed M/V «Pride» for 130,000 tons of coal, loading S. Africa April 1-10, discharging Netherlands, at USD 10.50 per ton with 2 days’ load and 25,000 tons’ discharge. – Good demand also for T/C periods with Sinochart fixing M/V «Bartolomeu Dias,» 151,040 dwt, built 1990, delivery China April 1-15 for 5-7 months period at USD 20,900 daily. – Panamax still at healthy levels with short supply in the Atlantic. Rates are moving upward. Bunge has fixed M/V «Oceanic Star,» 76,662 dwt, built 2002, delivery US Gulf end March, trip via SW pass, redelivery Med., at USD 12,750 daily and USD 265,000 ballast bonus. – Handy/Handymax rates out of S. America are moving up particularly for tonnage in excess of 38,000 dwt with just a handful of ships available for March positions. Some charterers are now eyeing ships in Southeast Asia for April river plate cargoes. – On smaller sizes Tschudi & Eitzen has fixed M/V «Sveti Vlaho,» 39,443 dwt, built 1984, delivery end March Morocco for 2 legs, redelivery UKC/Med., at USD 10,500 daily. – On coal cargoes Sail has fixed M/V «Uttarkashi» for 50,000 tons of cargo, loading Australia beg. April, discharging India, at USD 13.65 per ton with 20,000 tons’ load and 5,000 tons’ discharge.