ECONOMY

Shipping Report

TANKERS Aframax rates in the N. Sea and Baltic remain firm and stable, with rates at W/S 152.5 for cross N. Sea cargoes and W/S 145 for 100,000-ton cargoes out of the Baltic. – In the Med., despite the low level of inquiry, rates are stable at W/S 210-220 for cross and B. Sea trips respectively. Caribs market is firming, with the latest fixtures hovering around W/S 195. Atmi has fixed M/T «Aegean Faith» for 70,000 tons of cargo, loading Mar. 15, discharging US Gulf, at W/S 195. – Suezmaxes stable in the Med., with latest fixtures at W/S 145 irrespective of loading area, while in W. Africa Sun for 130,000 tons of cargo has fixed at W/S 160 with discharging destination USAC. – Activity on VLCCs with a number of cargoes out of Arabian Gulf with discharging options Singapore/Japan range. Chevtex has fixed M/T «New Valor» for 270,000 tons of cargo, loading Apr. 2, discharging S. Africa / East, at W/S 110 – W/S 115 respectively. – In the Med., Slavneft for 80,000 tons of cargo, loading Mar. 21 Syria, discharging Med., has fixed M/T «Moss» at W/S 210. – In the Cont., CSSA for 80,000 tons of cargo, loading Mar. 14 W. Coast Norway, discharging UKC, has fixed M/T «Luzon Spirit» at W/S 155. – In Caribs, Stusco for 70,000 tons of cargo, loading Mar. 18, discharging US Gulf, has fixed M/T «Genmar Progress» at W/S 135. – In W. Africa, Sun has fixed M/T «Cosmic» for 130,000 tons of cargo, loading Mar. 31, discharging USAC, at W/S 155. – In Arabian Gulf, Kyushu for 265,000 tons of cargo, loading Apr. 2, discharging Japan, has fixed M/T «Ubud» at W/S 105. DRY CARGO Capers market is gradually picking up in both areas. – In the Atlantic, Fuchuen Steel has fixed M/V «Taunton» for 180,000 tons of iron ore, loading Brazil Apr. 1-15, discharging China, at USD 39.00 per ton with 2 days load and 30,000-ton discharge. – On Panamaxes, trading began slowly after the market saw a significant change in mood toward the end of last week. Atlantic rates firm, with many of the early ships having been fixed. – In the East, rates are moving rapidly with charterers keen to take tonnage on period charter. – Bunge has fixed M/V «Nicholas Smile,» 69,561 dwt, built 1986, delivery mid-Mar. S. Korea for 3-5 months’ trading, at USD 45,000 daily, while in Atlantic Cargill has fixed M/V «Theodoros P,» 73,810 dwt, built 2002, delivery Gibraltar Mar. 10-16, trip via E. Coast S. America, redelivery UKC, at USD 45,000 daily. – Atlantic rates on Handies/Handymaxes are easier, with good supply of early tonnage. – On Panamax in Far East, Cargill has fixed M/V «Alessandra d’Amato,» 74,500 dwt, built 2000, delivery Japan Mar. 5-15, for 3-5 months’ trading at USD 47,500 daily. – On smaller sizes, IVS has fixed M/V «Tzini,» 42,003 dwt, built 1991, delivery Mar. 12-18 Muscat, trip via S. Africa, redelivery Cont., at USD 26,000 daily. – On grain cargoes, Cargill for 22,000 tons of cargo, loading Mar. 10-20 Argentina, discharging Tunisia, has fixed at USD 72.00 per ton with 5,000-ton load and 3,000-ton discharge.