ECONOMY

Shipping Report

TANKERS Another relatively quiet day, with rates in the Cont. dropping to W/S 175 for modern Aframaxes due to a lack of inquiry. – In the Med., the downturn continues with modern Aframaxes at less than W/S 200. – Caribs very quiet, with the 70,000-ton cargo liftings at W/S 180. – Suezmaxes out of W. Africa very weak in comparison with the latest period. Sun has fixed M/T «Knock Muir» for 130,000 tons of cargo, loading April 15 for USAC, at W/S 150. – In the Arabian Gulf MIPCO has fixed M/T «Lister» for 80,000 tons of cargo, loading March 31 Kuwait, discharging East, at W/S 200, while Stasco has fixed M/T «Barents Sea» for same size cargo, loading April 12 MEG, discharging East, at W/S 275. – In the Med., Europet has fixed M/T «Atalandi» for 80,000 tons of cargo, loading April 8 Novorossisk, discharging Med. at W/S 227.5, while Agip has fixed M/T «Georgios S» for 100,000 tons of cargo, loading April 3 S. Kerir, discharging Leghorn, at W/S 190. – In Caribs, Chemoil has fixed M/T «Seacharm» for 70,000 tons of cargo, loading April 4 CBS, discharging USG, at W/S 215, while Stasco has fixed M/T «Olympia» for same size cargo loading April 3 ECM, discharging USG, at W/S 170. DRY CARGO Handy/Handymaxes rates seem to be holding at firm levels in the Atlantic but details of fixed business were again slow to surface. – From the Continent, brokers noted a shortage of prompt modern Handymax tonnage. Panocean allegedly booked the 52,200-dwt, 2001-built «Frontier Angel» for a trip from Rotterdam April 8-10, probably via St Petersburg to the East, at USD 16,350 daily. – Stable conditions in Capers with Glory Wealth fixing M/V «Karteria» for 150,000 tons of ore, loading Dampier, discharging Qingdao, with April 1 loading, at 7.50 USD per ton scale load and 25,000 tons discharge. – On Panamaxes, very slow day as charterers have dropped rates for tonnage in the Atlantic and new business is also slow to emerge. There are fewer cargoes for eastbound destinations. – Bocimar has fixed M/V «Constania,» 171,039 dwt, built 1996, delivery Far East early May for five years’ trading at 15,600 USD daily, while Transfield has fixed M/V «Cape Araxos,» 170,726 dwt, built 2001, delivery Kwangyang April 7-9 via West Australia, redelivery China, at 26,500 USD daily.