ECONOMY

Shipping Report

TANKERS Rising rates for Aframaxes in the Med. due to fresh inquiry. Present levels at W/S 150-160 from the Black Sea. Chevtex has fixed 80,000 tons of minerva tonnage, loading April 24 Black Sea, discharging UKC/Med., at W/S 160. – Present rates in the Cont. are at W/S 140 and expected to move higher. – Caribs seem to be strengthening and are near W/S 250 for 70,000-ton cargo liftings. Valero has fixed M/T «Aegean Legend,» loading April 28 East Coast, Mexico, discharging US Gulf, at W/S 245. – Suezmaxes out of W. Africa for the «relax» dates of early May loadings at W/S 107.5-110, while for prompt cargoes, charterers are receiving offers of around W/S 150. – In the Med., Chevtex for 80,000 tons of cargo, loading April 24 Black Sea, discharging UKC/Med., has fixed M/T «Eagle Augusta» at W/S 147.5. – In the Cont., Conoco for 80,000 tons of cargo, loading April 25, discharging UKC, has fixed Lundqvist tonnage at W/S 125. – In Caribs, Stasco has fixed M/T «Irene» for 70,000 tons of cargo, loading April 25 East Coast Mexico, discharging US Gulf, at W/S 240. – In W. Africa, Petrogal has fixed M/T «Minerva Symphony» for 130,000 tons of cargo, loading April 27, discharging Portugal, at W/S 125. DRY CARGO Rates are creeping near to USD 35,000 daily for Capers for trips East. NYK has fixed M/V «Cape Century,» 172,683 dwt, built 2001, delivery end April Rotterdam, trip via Brazil, redelivery Japan, at USD 33,500 daily. – Firm rates also in Panamaxes with destinations East. There are rumors that a S. Korean charterer has booked tonnage from the US Gulf to the East at USD 19,750 daily plus USD 500,000 ballast bonus. – In Far East, the market has also risen substantially with brokers talking USD 16,000 daily for the next Nopac round-trip voyage. – Hanjin has fixed M/V «Red Cherry,» 73,739 dwt, built 1999, delivery China end April for 5-7 month period, at USD 15,000 daily. – In Atlantic, SSM has fixed M/V «Samjohn Spirit,» 71,730 dwt, built 1994, delivery US Gulf end April, trip via S. America and Turkey, redelivery Passero at USD 14,200 daily and USD 310,000 ballast bonus. – On smaller sizes, Interpec has fixed M/V «Adventure I,» 38,871 dwt, built 1980, delivery Argentina April 15-20, redelivery Spain at USD 10,500 daily and USD 195,000 ballast bonus.