ECONOMY

Shipping Report

TANKERS Another quiet day with modern Aframax in the Med. not fixed at more than W/S 140. – N. Sea also has minimum demand, with Stasco having fixed M/T «Chios Spirit» for 100,000 tons of cargo, loading Baltic April 9, discharging UKC at W/S 140. – The situation is similar in Caribs, with 70,000 tons of cargo liftings not fixed at more than W/S 160. – W. Africa quiet without any demand for Suezmax cargo. – In the Med., ERG has fixed M/T «Iria Tapias» for 130,000 tons of cargo, loading April 8 Egypt, discharging Italy, at W/S 127.5. – In the Med., Repsol, for 80,000 tons of cargo, loading April 12 Libya, discharging Spain, has fixed Lundqvist tonnage at W/S 170. – On the Cont., Exxonmobil, for 80,000 tons of cargo, loading April 4 for UKC round voyage, has fixed Lundqvist tonnage at W/S 175. – In Caribs, Stasco has fixed M/T «Olympia» for 70,000 tons of cargo, loading April 3 East Coast Mexico, discharging US Gulf, at W/S 170. – In Arabian Gulf, Stena, for 270,000 tons of cargo, loading April 24, discharging S. Africa, has fixed M/T «World Crest» at W/S 150. DRY CARGO Capesize trading remains low, with Shinwa reported as having fixed M/V «Lowlands Rose,» 171,039 dwt, built 1996, for 12 months’ trading with April 25-May 25 delivery Skaw/Passero, at USD 20,750 daily. – On Panamaxes, rates have eased in the East but brokers are suggesting this is a temporary downturn. – In Atlantic, owners are able to command big rates for trips to the Middle East. Glencore booked the Bottiglieri relet M/V «Montrose,» 75,592 dwt, built 2003, delivery March 24-26 Ireland for a trip via Cont., redelivery Saudi Arabia, at USD 18,500 daily. – On Handymax, rates remain strong. An Armada 43,000-tonner was fixed for a trip from the US Gulf to the Med. by Petcoke at USD 17,500 daily. – On Panamax in Far East, Dreyfus has fixed M/V «Esperis P,» 70,182 dwt, built 1994, delivery China end-March, redelivery Far East, at USD 11,400 daily. – In Atlantic, Pyramid has fixed M/V «Maritime Prosperity,» 73,000 dwt, built 2001, delivery Amsterdam April 3-5, trip via France and Egypt, redelivery Passero, at USD 16,000 daily. – On smaller sizes, Pan Ocean has fixed M/V «Gang Qiang,» 46,790 dwt, built 1997, delivery beg.-April Russia, redelivery Far East, at USD 16,300 daily.