ECONOMY

Shipping Report

TANKERS Weaker conditions for VLCCs out of Arabian Gulf, with rates hovering around W/S 95 for both East/West destinations. – Chevtex for 265,000 tons of cargo, loading April 18, discharging Far East, has fixed M/T «Eliz. I. Angelicoussis» at W/S 94, while Irving for 287,000 tons of cargo, loading March 28, discharging East Coast Canada, has fixed tanker tonnage at W/S 99.5. – On Suezmaxes, rates out of W. Africa are stable, with latest fixtures around W/S 165, while Med. at W/S 155 with lesser inquiry. – Chevtex for 130,000 tons of cargo, loading April 15, discharging UKC/Med., has fixed M/T «Minerva Symphony» at W/S 167.5, while in the Med., Cepsa for 135,000 tons of cargo, loading April 2, discharging Spain, has fixed M/T «Iran Sanandaj» at W/S 150. – The Aframax market in the N. Sea has eased slightly. The usual end-month activity has not been seen in March. Dreyfus has fixed M/T «Juanita» for 80,000 tons of cargo, loading March 2, East Coast UK, discharging Germany, at W/S 150. – In the Med., a quiet start, but due to last week’s activity rates are still around W/S 217.5. Lukoil has fixed M/T «Althea» for 80,000 tons of cargo, loading end-March Black Sea, dishcarging Med., at W/S 215. – Caribs stable, with 70,000-ton cargo liftings at W/S 245. Stusco has fixed M/T «Jag Lata» for 70,000 tons of cargo, loading March 28 East Coast Mexico, discharging US Gulf, at W/S 247.5. – In the Med., Chevtex for 80,000 tons of cargo, loading beg. April, discharging UKC/Med., has fixed M/T «Sinova» at W/S 242.5. – In Caribs, Valero for 70,000 tons of cargo, loading April 2, discharging US Gulf, has fixed M/T «Aegean Faith» at W/S 247.5. – In W. Africa, CSSA for 130,000 tons of cargo, loading April 6, discharging UKC/Med., has fixed M/T «Georgios S» at W/S 160. – In Arabian Gulf, Shell for 260,000 tons of cargo, loading April 13, discharging Far East, has fixed M/T «New Valor» at W/S 102.5. DRY CARGO More optimistic tone to the market for Capers in the East. The majority of early ships have been fixed, while the Atlantic market has a better feel to it. – Cargill has fixed M/V «Kohfukusan,» 172,000 dwt, built 1999, delivery mid-March Rotterdam, trip via Colombia, redelivery UKC at USD 72,000 daily, while Coeclerici has fixed M/V «Heythrop,» 165,729 dwt, built 1996, delivery Spain April 1-10, redelivery Rotterdam, at USD 67,000 daily. – Buoyant tone for Panamaxes in the Atlantic too. A number of ships were fixed with destinations East at above USD 53,000 daily. – Transgrain has fixed M/V «Salandi,» 74,502 dwt, built 1999, delivery March 20-25 Passero, trip via East Coast S. America, redelivery Far East, at USD 53,200 daily. – The picture is similar in the East. M/V «Atlantic Breeze,» 76,000 dwt, delivery end-March Japan, for Australian round-trip voyage, was fixed at USD 45,000 daily. – On smaller sizes, Quenby has fixed M/V «Pacific Carrier,» 43,415 dwt, built 1994, delivery Jeddah end-March – beg. April via Black Sea, redelivery Far East, at USD 39,000 daily. – On coal cargoes, Cargill for 160,000 tons of cargo, loading S. Africa end-April, discharging Rotterdam, has fixed M/V «CHS Bright» at USD 21.00 per ton with 2-day load and 25,000 tons discharge.