ECONOMY

Shipping Report

TANKERS Quieter conditions in the Med., with Aframaxes trading at around W/S 120, while Suezmaxes in the same area are being fixed at around W/S 125. – The Cont. is also quiet with marginal inquiry and Suezmax voyages for transatlantic destinations at W/S 130. – Lesser inquiry in Caribs too, with 70,000-ton cargo liftings being fixed at W/S 180. – Suezmax rates out of W. Africa are expected to move even lower than the mid W/S 120s. Sun has fixed M/T «Olympic Flair» for 130,000 tons of cargo, loading April 17, discharging USAC at W/S 125. – In the Med., Erg for 80,000 tons of cargo, loading April 10 Libya, discharging Italy, has fixed M/T «Gaetano d’Alesio» at W/S 116.5. – In the Cont., Stasco has fixed M/T «Koa Spirit» for 80,000 tons of cargo, loading April 7 Denmark, discharging US Gulf, at W/S 185. – In Caribs, Chemoil for 70,000 tons of cargo, loading April 7, discharging US Gulf, has fixed M/T «Sea Pride I» at W/S 180. – In W. Africa, BP for 130,000 tons of cargo, loading April 19, discharging US Gulf, has fixed M/T «Front Pride» at W/S 122.5. DRY CARGO A strong market on Handies/Handymaxes in most areas in the Atlantic. There is a long list of cargoes quoted from Argentine/Brazil and rates are expected to firm even further. Bunge agreed to USD 15,000 daily for the 50,913-dwt, 2001-built M/V «Sea Beauty» for W. Africa delivery for a trip via the River Plate to the Cont. or Med. – Panamaxes, after a few days of quietness, have picked up trading considerably and are set for even firmer rates for prompt tonnage in the Atlantic. – In Far East, brokers are talking about more interest for T/C short periods. – The Capers market remains low in most areas. TKS has fixed M/V «Papa» for 140,000 tons of coal, loading April 1-15 Port Cartier (Canada), discharging Rotterdam, at USD 8.75 per ton with 6 days all purpose. – On Pananamaxes in Far East, BHP Billiton has fixed M/V «Sea Wind,» 74,012 dwt, built 1996, delivery April 5-7 Taiwan for 4-6 month period, at USD 14,500 daily. – In the Atlantic, Rice Co has fixed M/V «Great Glory,» 73,251 dwt, built 1997, delivery US Gulf April 23-25, redelivery Brazil, at USD 15,600 daily. – On smaller sizes, Ed&F Man has fixed M/V «Petronia,» 25,160 dwt, built 1981, delivery beg. April US Gulf, redelivery Med., at USD 8,950 daily.