ECONOMY

Shipping Report

TANKERS Freight levels have bottomed out with Aframaxes in the Med. and Cont. at W/S 110. – Caribs still being fixed at W/S 210 for 70,000-ton cargo liftings, while Suezmaxes are at W/S 102.5 for 130,000-ton cargoes with USAC destinations. – In the Med., KPC for 80,000 tons of cargo, loading April 20 Libya, discharging Med., has fixed M/T «Gaetano d’Alesio» at W/S 107.5. – In the Cont., Murphy has fixed M/T «New Ace» for 80,000 tons of cargo, loading April 20 Norway, discharging UK, at W/S 110. – In Caribs, Murphy for 70,000 tons of cargo, loading April 20 East Coast Mexico, discharging US Gulf, has fixed Conoco tonnage at W/S 200. – In W. Africa, Emerald for 130,000 tons of cargo, loading May 1, discharging USAC, has fixed M/T «Arteaga» at W/S 100. DRY CARGO Rates continue to strengthen in most areas. Large modern-type Panamaxes for Nopac round-trip voyages are being negotiated above USD 14,000 daily, while in the Atlantic several ships are rumored as being negotiated near USD 15,000 daily for grain round-trip voyages. – On Capers, several ships are being fixed in the Atlantic and the East with front-haul rates nudging toward USD 35,000 daily for trips to Japan. Strong rates were also agreed upon for T/C periods. – Handymax rates remain strong with further business out of US Gulf. – On Panamaxes in Far East, Dreyfus has fixed M/V «Cic Piraeus,» 76,296 dwt, built 2001, delivery/redelivery Japan with dates April 7-10, at USD 14,250 daily. – In the Atlantic, Cargill has fixed M/V «Amalia,» 75,122 dwt, built 2000, delivery Amsterdam April 10-12, for 6-8 months’ trading at USD 16,000 daily. – On smaller sizes Ed&F Man has fixed M/V «Turandot,» 38,186 dwt, built 1979, delivery 12-15 April US Gulf, redelivery Med., at USD 15,000 daily. – On coal cargoes, Novacoal has fixed M/V «Cape Mercury» for 150,000 tons of cargo, loading Australia April 20-30, discharging UK, at USD 15.00 per ton with 45,000-ton load and 25,000 tons discharge.