ECONOMY

Shipping Report

TANKERS Firmer conditions on Aframaxes in the Med. and a lack of modern tonnage till April 20. Reports of vessels being agreed to at W/S 135 and even W/S 140 with loadings out of Black Sea. – Cont. market also seems busier, with rates around W/S 120 and prospects for even higher levels. – Caribs stable at W/S 210 for 70,000-ton cargo liftings, although older units have been agreed to at W/S 205. – Suezmaxes steady out of W. Africa with increased number of fixtures. Rates hovering around W/S 100-105 for US Gulf and USAC destinations respectively. – In the Med., Karran for 80,000 tons of cargo, loading April 15 Black Sea, discharging Med., has fixed M/T «Montrose» at W/S 105. – In the Cont., Chevtex for 80,000 tons of cargo, loading April 16 UK, discharging UKC, has fixed M/T «Poul Spirit» at W/S 104. – In Caribs, Chemoil has fixed Heidmar tonnage for 50,000 tons of cargo, loading end April, discharging US Gulf, at W/S 225. – In W. Africa, BP for 130,000 tons of cargo, loading April 28, discharging US Gulf, has fixed M/T «Sea Star» at W/S 97.5. DRY CARGO Rates on Capers remain firm, although modern units have not yet reached the USD 30,000-35,000 daily levels. – In Atlantic, M/V «Poly Star,» 151,300 dwt, built 1994, which was fixed by Sanko for a trip to the Far East at USD 28,000 daily, has not given the subjects. – M/V «Corona Fortune,» 172,972 dwt, built 1993, with delivery UK trip via Brazil, redelivery China, has fixed by Transfield at USD 27,000 daily. – On Panamaxes, the Atlantic range remains strong although the volume of fixings remains low. Delays in S. America are impacting on the market, tying up ships loading down there – for more than 20 days in Brazil and increasingly in Argentina. – The Far East is stable with Noble having fixed M/V «Eternal Strength,» 64,780 dwt, built 1983, delivery Singapore April 14-22 for 2-3 laden legs, redelivery Far East at USD 11,750 daily. – Handy/Handymaxes remain strong in all areas. – On smaller sizes, SK Shipping has fixed M/V «Sea Luck,» 45,429 dwt, built 1995, delivery S. Korea mid-April, redelivery Far East, at USD 11,200 daily. – On coal cargoes, Portline for 145,000 tons of cargo, loading Colombia May 5-14, discharging Portugal, has fixed M/V «Cape Providence» at USD 8.60 per ton with 35,000-ton load and USD 30,000-ton discharge.