ECONOMY

Shipping Report

TANKERS Aframaxes in the Med. with more cargoes; rates around W/S 110-115. Suezmaxes quiet; rates around W/S 100. – Cont. at W/S 110 with CONOCO having fixed M/T «New Ace» for 80,000 tons of cargo, loading April 12 for UKC, at around above levels. – In the Caribs, Ergon has fixed Teekay tonnage for 70,000 tons of cargo, loading April 21, discharging US Gulf, at W/S 210. – Suezmaxes market out of W. Africa remains quiet, with very limited inquiry. Rates around W/S 100 irrelevant destination. – In the Med., Petrogal, for 80,000 tons of cargo, loading April 20 Syria, discharging Portugal, has fixed M/T «Moss» at W/S 110. – On the Cont., Dow for 80,000 tons of cargo, loading April 13 Norway, discharging UKC, has been fixed at W/S 110. – In Caribs, Valero has fixed M/T «Molda» for 78,000 tons of cargo, loading Apr. 13, discharging US Gulf, at W/S 200. – In W. Africa, Agip for 130,000 tons of cargo, loading mid-April, discharging Med., has fixed M/T «Eurosky» at W/S 102.5. DRY CARGO A buoyant market in all areas and sizes. – On Capers, brokers are predicting an even USD 35,000 daily for fronthaul run. – On Panamaxes in Far East, Japanese charterers presently very active, fueling optimism in the area. – Atlantic market very firm, looking to Southeast Asia for tonnage. In East, an LME delivery to the East is at USD 19,000 daily, and there are wild rumors of a very high rate agreed for round voyages. – On Handy/Handymax, rates remain very strong for US Gulf loaders. An Armada relet, «Ever Gloria,» 45,700 dwt, built 1995, on open account April 9-10 in Tampa, was fixed by bulkhandling for trip in the Med. at USD 19,000 daily. – On Panamax in Far East, BHP Billiton has fixed M/V «Century Star,» 75,250 dwt, built 2003, delivery Australia 3-6 April, trip via East Coast S. America, redelivery Far East, at USD 19,000 daily. – In Atlantic, Wilmar has fixed M/V «Basic Spirit,» 73,000 dwt, built 1999, delivery Brazil end-April, redelivery far East, at USD 17,500 daily. – On smaller sizes, Samsun has fixed M/V «Isa,» 34,900 dwt, built 1999, delivery US Gulf beg.-April, trip via North Coast S.America, redelivery UKC, at USD 16,500 daily.