ECONOMY

Shipping Report

TANKERS Stable conditions in all areas. – Med./Cont./Caribs are still fixed at W/S 150/142.5 and W/S 260 for the 80,000 and 70,000 tons cargo liftings. – Stable conditions also for Suezmaxes. In the Med., Stasco has fixed Alliance tonnage for 135,000 tons of cargo, loading April 23 Russia, discharging UKC/Med., at W/S 120, while the same charterers in the Cont., with loading May 5 UK, discharging USAC, have fixed M/T «Silia T» at W/S 127.5. – W. Africa with minor fresh inquiry, while on prompter dates Chevtex has fixed M/T «Astro Capella» for 130,000 tons of cargo, loading April 29, discharging US Gulf, at W/S 127.5. – In Caribs, Valero for 70,000 tons of cargo, loading April 30, discharging US Gulf, has fixed M/T «Harmony» at W/S 257.5. – In Arabian Gulf, Idemitsu has fixed M/T «Mitsumine» for 255,000 tons of cargo, loading May 3, discharging Japan, at W/S 97.5. DRY CARGO Period interest featured on the Capesize market, with strong rates agreed. Swiss Marine has fixed M/V «SG Prosperity,» 211,201 dwt, built 1996, delivery 28-30 April China for 2 years’ trading, at USD 20,500 daily. – Panamax rates remain strong, focused also on period activity. – In the East, the M/V «Red Rose,» 76,629 dwt, built 2003, was rumored fixed for end-April delivery S.Korea for 2 years’ trading. Details were vague, but sources suggested a flat rate of USD 12,500 daily to an Asian-based charterer. – Rates for Handymax tonnage remain very strong in the US Gulf, although brokers noted an increase in the number of ships available in the 25,000 to 30,000 dwt size range. – In the Atlantic, HMM has fixed M/V «China Merchant,» 38,888 dwt, built 1986, delivery Mexico April 15-16, trip via US Gulf, redelivery Spain, at USD 17,500 daily. – On smaller sizes, San Juan Navigation has fixed M/V «Union Leader,» 44,089 dwt, built 1995, delivery Japan end April for 3-5 months’ trading at USD 11,250 daily.