ECONOMY

Shipping Report

TANKERS Steadier conditions in the Med., with modern Aframaxes at W/S 130. – Cont. seems quieter, with rates in line with those in the Med. On Suezmaxes, Koch has fixed M/T «T. Brilliance» for 135,000 tons of cargo, loading April 15 Baltic, discharging UKC, at W/S 135. – Caribs market stable with El Paso having fixed M/T «Nordisle» for 70,000 tons of cargo, loading April 11 Venezuela, discharging US Gulf, at W/S 187.5. – W. Africa on Suezmaxes with marginally inquiry. Rates at W/S 122.5 for US Gulf and W/S 125 for USAC. Sun has fixed M/T «Decathlon,» loading April 15, discharging Philadelphia, at W/S 125. – In the Med., Agip for 80,000 tons of cargo, loading March 31, discharging Med., has fixed M/T «Panaghia Armata» at W/S 132.5. – In the Cont., Petrogal has fixed M/T «Luzon Spirit» for 80,000 tons of cargo, loading April 11 UK, discharging Portugal, at W/S 140. – In Caribs, Chemoil has fixed M/T «Sea Pride I» for 70,000 tons of cargo, loading April 7, discharging US Gulf, 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 The slow start to this week continues for Capesize tonnage. Fewer cargoes in the market, especially in the Pacific. – In the Atlantic, Mol Navix has fixed M/V «Faneromeni» for 150,000 tons of coal, loading May 1-10 Colombia, discharging Portugal, at USD 7.90 per ton with 70,000-ton load and 35,000 tons discharge. – Panamaxes in the Atlantic remain firm with good demand mainly out of S. America for trips to the East or round-trip voyages. – In Far East, Chinese traders continue to drive the market firmer. Several charterers have cargoes from Australia to China, while the S. Koreans and Europeans are still showing interest in T/C periods. – Handies / Handymaxes firm with NYK having fixed M/V «Pacific Vigorous,» 43,354 dwt, built 1993, delivery US Gulf end March for 65-day trip, redelivery Far East, at USD 15,400 daily. – On Panamax in Far East, Daeyang has fixed M/V «De Zhou Hai,» 69,963 dwt, built 1995, delivery China April 3-5, redelivery Indonesia, at USD 11,400 daily. – In Atlantic, Intermare has fixed M/V «Aquila,» 64,911 dwt, built 1979, delivery Morocco 8-10 April, trip via East Coast S. America and Egypt, redelivery Passero, at USD 12,000 daily.