ECONOMY

Shipping Report

TANKERS Steady Aframax market in Med. and Cont.; rates at W/S 205 and W/S 155 respectively. – The 100,000-ton cargoes out of the Baltic are still fixed at W/S 142.5. – Caribs remains weak, and after the W/S 165 and W/S 125 for the 70,000-ton cargo liftings Exxonmobil has fixed M/T «Regent,» loading Mar. 7 East Coast Mexico, discharging US Gulf, at W/S 115. – Suezmaxes in Med. steadying at about W/S 140 for S. Kerir, while in W. Africa rates ready to move into the 130s. – Petrogal has fixed M/T «Majestic» for 130,000 tons of cargo, loading W. Africa Mar. 30, discharging Portugal, at W/S 129. – On Suezmaxes out of Arabian Gulf, Stasco for 130,000 tons of cargo, loading Apr. 1, discharging Far East, has fixed M/T «Da Ming Hu» at W/S 140; on VLCCs, S. Oil for 255,000 tons of cargo, loading Mar. 29, discharging S. Korea, has fixed M/T «Stena Episkopi» at W/S 98.75. – In the Med., Api for 80,000 tons of cargo, loading Mar. 19 Egypt, discharging Italy, has fixed M/T «Minerva Concert» at W/S 207.5. – In the Cont., BHP for 80,000 tons of cargo, loading Mar. 8, discharging UKC, has fixed M/T «Vancouver Spirit» at W/S 165. – In Caribs, Exxonmobil for 70,000 tons of cargo, loading Mar. 7 East Coast Mexico, discharging US Gulf, has fixed M/T «Regent» at W/S 115. DRY CARGO The Capesize market in the East has bottomed out after several of the early ships have been fixed. This might be the start of a firmer market. – Transfield has fixed M/V «Faneromeni,» 149,212 dwt, built 1989, delivery mid-March China, trip via India, at USD 50,000 daily, while Noble has fixed M/V «Grand Fortune,» 150,877 dwt, built 1994, delivery March 15-17 Japan, trip via W. Australia, redelivery China, at USD 57,000 daily. – Several Panamax ships have been fixed in the East too, but so far this has had little impact on rates. – Cetragpa has fixed M/V «Marilena d’Amato,» 74,500 dwt, built 2001, delivery/redelivery China, via India, at USD 42,500 daily, while Mol Navix has fixed M/V «Hedwig Oldendorff,» 73,435 dwt, built 2001, delivery Japan Mar. 5-7, via E. Coast Australia, at USD 40,000 daily. – In Atlantic, new business in short supply, either from US Gulf or S. America. Baumarine has fixed M/V «Alcyon,» 75,247 dwt, built 2001, delivery UKC beg.-March, trip via Orinoco, redelivery UK, at USD 41,000 daily. – On Panamax in Far East, China Lines has been fixed M/V «Angelic Power,» 74,764 dwt, built 2002, delivery Taiwan March 9-10, trip via India, redelivery China, at USD 42,300 daily. – On smaller sizes, M/V «Priory,» 26,388 dwt, built 1992, delivery Nigeria beg.-March, redelivery Far East, was fixed at USD 38,000 daily. – On coal cargoes, BHP billiton has fixed M/V «Carouge» for 150,000 tons of cargo, loading S. Africa April 5-15, discharging Rotterdam, at USD 20.75 per ton with 2-day load and 25,000 tons discharge.