ECONOMY

Shipping Report

TANKERS Firmer conditions on Suezmaxes out of W. Africa, with Exxonmobil having fixed M/T «Discovery» for 130,000 tons of cargo, loading April 11, discharging US Gulf at W/S 180. – The VLCC market in the same area is also interesting, with fixtures at W/S 130 for destinations west and W/S 117.5 going east. – In the Med., the 140,000-ton cargoes out of the Black Sea are being fixed at W/S 160. Sibneft has fixed M/T «Sea Racer,» loading April 3 Russia, discharging Med., at abovesaid levels. – In Caribs, Blanchard has fixed M/T «Front Brabant» for 130,000 tons of cargo, loading April 11 East Coast Mexico, discharging US Gulf, at W/S 157.5. – Arabian Gulf is also active in Suezmax cargoes, with a number of fixtures by China Oil and Chevtex. – China Oil has fixed M/T «Knock Allan» for 135,000 tons of cargo, loading April 2, discharging China, at W/S 135, while Chevtex has fixed M/T «North Star,» loading April 12, discharging Far East, at W/S 142.5. – Stable conditions for Aframaxes in all areas. – In the Med., Eni for 80,000 tons of cargo, loading March 31 Egypt, discharging Italy, has fixed M/T «Fuscia» at W/S 202.5. – In the Cont., Lukoil for 100,000 tons of cargo, loading March 27 Russia, discharging UKC, has fixed M/T «Moscow River» at W/S 170. – In Caribs, Chevtex for 70,000 tons of cargo, loading March 25 East Coast Mexico, discharging US Gulf, has fixed M/T «Genmar Constantine» at W/S 240. – In W. Africa, Sun for 130,000 tons of cargo, loading March 31, discharging USAC, has fixed M/T «Front Fighter» at W/S 162.5. – In Arabian Gulf, Sinochem has fixed M/T «C. Planner» for 255,000 tons of cargo, loading April 1, discharging China, at W/S 117.5. DRY CARGO Far East Capers market remains problematic due to consequences from the floods in Australia. A number of vessels are on ballast with destination Atlantic ready to fix at low numbers. – M/V «Cape Osprey» has been fixed for a coal cargo, loading Richards Bay, discharging UKC, at USD 19.00 per ton. – Stable market for Panamaxes in the Atlantic, with a number of deals under negotiations. lME type tonnage is still being fixed above USD 50,000 daily for eastern destinations. – In the East, several ships have been fixed for round-trip voyages but many charterers continue to call this market lower. – On Panamax in Far East, Mol Navix has fixed M/V «Emerald Indah,» 77,734 dwt, built 1998, delivery China March 18, trip via Indonesia, redelivery Japan, at USD 43,000 daily. – In Atlantic, Bunge has fixed M/V «Bunga Saga Lapan,» 73,207 dwt, built 1998, delivery France March 16-18, trip via East Coast S. America, redelivery Far East, at USD 51,200 daily. – On smaller sizes, Pegasus has fixed M/V «Fatma Ana,» 42,812 dwt, built 1985, delivery end-March Tunisia, trip via Black Sea & Arabian Gulf, redelivery Muscat, at USD 46,000 daily. – On coal cargoes, Clipper has fixed M/V «Feng Shan Hai» for 65,000 tons of cargo, loading S. Africa April 5-15, discharging Croatia, at USD 34.25 per ton with one-day load and 25,000 tons discharge.