ECONOMY

Shipping Report

TANKERS Steady conditions for Aframaxes in the Med. and Cont. Rates for 80,000-ton cargoes at W/S 200-210 and W/S 150-155 respectively. – Conditions quieter in Caribs, with Lyondell fixing Teekay tonnage for 70,000 tons of cargo loading Mar. 23-25 Venezuela, discharging US Gulf, at W/S 272.5. – Suezmax rates out of W. Africa are in balance, with most fixtures around the W/S 160-165 levels, while on VLCCs rates with a Western destination are hovering around W/S 130. Conoco for 260,000 tons of cargo loading Apr. 17 discharging US Gulf, has fixed M/T «Kensington» at abovesaid levels. – Med. at similar levels after Ceyhan barrels having been awarded, while in N. Sea rates caught up to W. Africa last for cargoes of 135 at W/S 167.5 for USAC destination. – On VLCCs in Arabian Gulf, TPI has fixed M/T «Cosmo Venus» for 240,000 tons of cargo, loading Apr. 11, discharging Thailand, at W/S 130, while Chevtex has fixed M/T «Apollo Akama,» loading April 5, discharging Far East, at W/S 130. In Med., KPC for 80,000-ton cargo, loading Mar. 26 Libya, discharging Med., has fixed M/T «Iran Amol» at W/S 210. – In the Cont., Chevtex for 80,000 tons of cargo, loading Mar. 24, discharging UKC, has fixed M/T «Stena Conductor» at W/S 150. – In Caribs and on smaller sizes, Hess for 50,000 tons of cargo, loading Mar. 16, discharging USAC, has fixed M/T «Polys» at W/S 225. – In W. Africa, Hess for 130,000 tons of cargo, loading Apr. 9, discharging Caribs, has fixed Alliance tonnage at W/S 165. – In Arabian Gulf, LG Caltex for 265,000 tons of cargo, loading Apr. 13, discharging S. Korea, has fixed M/T «C. Bright» at W/S 117.5. DRY CARGO Rates easier for Capers in the East, with the market still experiencing long delays in the ore-loading ports of Australia. – Atlantic rates are largely steady, but again fresh fixed business remains limited. – On Panamaxes, volume of new business also appears thin, although some firm rates have been reported. – In the East and on T/C periods, Cargill has fixed M/V «Hephaestus,» 74,297 dwt, built 2001, delivery Mar. 25-31 Hong Kong, for 5-7 months’ trading, at USD 50,500 daily. – On Handy/Handymax early ships in the US Gulf/USAC area, it is difficult to find business on their dates. The market looks more encouraging for later days. – Cont. and Med. markets still at very high freight rates. – In Atlantic, Wilmar fixed M/V «Clipper Emperor,» 74,381 dwt, built 2000, delivery Spain mid-Mar., via E. Coast S. America, redelivery Far East, at USD 54,000 daily. – On smaller sizes Oldendorff has fixed M/V «Swordfish,» 32,243 dwt, built 1983, delivery Brazil mid-Mar., redelivery Far East, at USD 28,000 daily. – On ores, M/V «Iron Queen» for 140,000 tons of cargo, loading Mar. 17-31 Norway, discharging Ljmuiden, was fixed at USD 8.40 per ton with 7 days all purposes.