ECONOMY

Shipping Report

TANKERS Active market in the Med., with more cross-voyages as well as out of Black Sea. Rates are improving for Aframax and Suezmax. – Chevtex for 80,000 tons of cargo, loading Russia April 3, discharging Med., has fixed M/T «Althea» at W/S 225, while on Suezmaxes Lukoil has fixed M/T «Summer Sky» for 140,000 tons of cargo, loading April 3-4 Russia, discharging Med., at W/S 165. – N. Sea stable despite the prolonged inactivity latest fixture for 80,000 tons of cargo at W/S 152.5. – Caribs also stable with more inquiry, with Navion having fixed M/T «St Helen» for 70,000 tons of cargo, loading March 25, discharging US Gulf, at W/S 250, while Valero has fixed M/T «Black Sea» for same cargo, loading March 30 East Coast Mexico with same destination, at W/S 240. – W. Africa has more Suezmax cargoes. Sun has fixed M/T «North Star» for 130,000 tons of cargo, loading April 14, discharging USAC, at W/S 162,5. – On VLCCs out of Arabian Gulf Petron has fixed M/T «Asian Progress II» for 265,000 tons of cargo, loading April 15, discharging Philippines, at W/S 107.5. – In the Med., CSSA for 80,000 tons of cargo, loading April 5 Tunisia, discharging Med., has fixed M/T «Gaetano d’Alesio» at W/S 200. – In the Cont., Alpine has fixed M/T «Minerva Maya» for 80,000 tons of cargo, loading March 24 Baltic, discharging UKC, at W/S 167.5. – In Caribs, Lyondell for 70,000 tons of cargo, loading March 31, discharging US Gulf, has fixed M/T «Eagle Albany» at W/S 250. – 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 the Arabian Gulf, Valero has fixed M/T «Maritime Jewel» for 275,000 tons of cargo, loading April 12, discharging US Gulf, at W/S 107.5. DRY CARGO The problems for transporting the ore cargoes to W. Australia ports still exist and are not expected to be solved in less than a month’s time. – Rates continue to drop, with M/V «Princess Nadia,» 152,329 dwt, built 1987, having agreed delivery China end March-beg. April for Australian round voyage at USD 45,000 daily, while M/V «Pacific Enterprise» agreed USD 14.00 per ton for 145,000 tons of ore from Pt. Hedland to Beilun. – The Atlantic appears more active, not only on Capers but on Panamaxes too. M/V «Panoria,» 72,861 dwt, built 1997, delivery March 19-21 Sweden, for a trip via East Coast S. America to the East, was fixed at USD 52,000 daily. – On smaller sizes, WBC has fixed M/V «George Lyras,» 35,730 dwt, built 1984, delivery Med. end-March, trip via Black Sea, redelivery India, at USD 40,000 daily. – On Panamax in Far East, Pyramid has fixed M/V «Yong Feng,» 74,099 dwt, built 2000, delivery China March 25-27, trip via Australia and Egypt, redelivery Passero, at USD 38,000 daily. – In Atlantic, M/V «Amber,» 63,787 dwt, built 1978, delivery March 28-31 Rotterdam, trip via Baltic & Arabian Gulf, redelivery Muscat, was fixed at USD 45,000 daily. – On ore cargoes, Pan Ocean has fixed M/V «Pacific Enterprise» for 145,000 tons of cargo, loading Australia April 19-28, discharging China, at USD 13.50 per ton with 2 days’ load and 30,000 tons discharge.