ECONOMY

Shipping Report

TANKERS Stable conditions on Aframaxes in the Med., with rates at W/S 180-200 for 80,000-ton cargoes. – Cont. stable too, while in Caribs inquiry remains limited with the 70,000-ton cargo liftings being fixed around W/S 180. – The picture is similar for Suezmaxes out of W. Africa. Sun has fixed M/T «Knock Clune» for 130,000 tons of cargo, loading March 22, discharging USAC, at W/S 120, while on VLCCs Emerald for 260,000 tons of cargo, loading March 21, discharging US Gulf, has fixed M/T «Patris» at W/S 100. – The VLCC market out of Arabian Gulf remains weak. NGT for 252,000 tons of cargo, loading March 28, discharging Japan, has fixed M/T «Cosmo Artemis» at W/S 100, while SK Shipping has fixed M/T «Golden Stream» for 260,000 tons of cargo, loading March 10, discharging S. Korea, at W/S 107.5. – In the Med., Erg for 80,000 tons of cargo, loading March 17 Syria, discharging Med., has fixed M/T «Valbruna» at W/S 200. – In the Cont. and on Suezmaxes, Exxonmobil for 135,000 tons of cargo, loading March 10 and discharging UKC, has fixed M/T «Aldawha» at W/S 147.5. – In Caribs, BP has fixed M/T «Petrozavdosk» for 70,000 tons of cargo, loading March 8 East Coast Mexico, discharging US Gulf, at W/S 175. – In Arabian Gulf, SK has fixed M/T «Hampsted» for 270,000 tons of cargo, loading March 25, discharging S. Korea, at W/S 102.5. DRY CARGO A generally easier day in the Capesize market. Freight rates are softening, with Coeclerici having fixed M/V «Ferosa,» 173,149 dwt, built 1992, delivery March 8-10 Taiwan, trip via S. Africa, redelivery Rotterdam, at USD 42,500 daily. – A largely unchanged market for Panamaxes in the Atlantic too. Several ships are on subs but with no details known as yet. – In the East, a S. Korean holiday reduced the flow of new cargoes. – On T/C periods in the area, Bunge has fixed M/V «Hellenic Sky,» 68,600 dwt, built 1994, delivery March 5-6 Japan, for 4-6 month period at USD 46,500 daily. – Atlantic on Handy/Handymaxes appears sluggish, with little reported. Rates remain firm for Cont. – Bonyad has fixed M/V «Sea Crane,» 46,040 dwt, built 1985, delivery March 1-5 Antwerp, for a trip to Persian Gulf at USD 52,500 daily. – On Panamaxes in Far East, Daiichi has fixed M/V «Rain Kiss,» 69,053 dwt, built 1996, delivery China beg.-March, redelivery Japan, at USD 43,250 daily. – In Atlantic, Dreyfus has fixed M/V «Bonita,» 76,623 dwt, built 2001, delivery Rotterdam March 2-3, trip via East Coast S. America, redelivery Far East, at USD 50,000 daily. – On smaller sizes, Samsun has fixed M/V «Luzern,» 45,269 dwt, built 1997, delivery March 8-12 India, for 13-15 month period at USD 34,500 daily. – On coal cargoes, Coeclerici has fixed M/V «Cape Araxos,» for 160,000 tons of cargo, loading S. Africa April 1-15, discharging Rotterdam, at USD 21.00 per ton with two-day load and 25,000 tons discharge.