ECONOMY

Shipping Report

TANKERS Good demand for Aframaxes in Med., due to a number of cargoes mainly out of Black Sea. – Clearlake has fixed Minerva tonnage for 80,000-ton cargo, loading Mar. 16, Black Sea, discharging Med., at W/S 210, while Suezmaxes are still being negotiated around W/S 155 with Med. destinations. – N. Sea stable, with 100,000-ton cargoes out of Primorsk still at W/S 130. – In Caribs, 70,000-ton cargo liftings are still being fixed around W/S 220-225. – Suezmax activity in the East is driving the market upward and at W/S 215 and W/S 140 for east and west destinations, while W. African rates are holding around W/S 150-155. – N. Sea rates for Suezmaxes quiet and in line with W. Africa rates. – VLCC rates out of Arabian Gulf at W/S 175 with destination Thailand. – In Cont. and for 100,000-ton cargoes, Vitol has fixed M/T «Elisabeth Knutsen,» loading Mar. 7 Primorsk, discharging UKC, at W/S 330. – In Caribs, Atmi has fixed M/T «Baltic Sea» for 70,000-ton cargo, loading Mar. 4, discharging US Gulf-Caribs, at W/S 220 – W/S 290, respectively, while on smaller sizes, Citgo for 50,000 tons of cargo, loading beg. Mar., discharging US Gulf-Caribs, has fixed M/T «Parapola» at W/S 265 – W/S 275, respectively. – In W. Africa, CSSA has fixed M/T «Eco Europa» for 130,000-ton cargo, loading Mar. 19, discharging UKC-Med., at W/S 145. In Arabian Gulf, Shell has fixed M/T «Bunga Kasturi Dua» for 280,000-ton cargo, loading Mar. 21, discharging UKC- Med., at W/S 120. DRY CARGO Quiet day for Capers in the east, with limited fresh inquiry. Rates are holding, mainly due to delays in the discharging ports and replacements. – Atlantic market is quite active in Panamaxes, with several early ships being fixed either for round-trip voyages or for short T/C periods. – Armada has fixed M/V «Joyous Age,» 69,271 dwt, built 1994, delivery Flushing, for a balance of period. – In Far East, Sarat Chatterjee has fixed M/V «Alpha Happiness,» 72,893 dwt, built 1999, delivery Muscat Mar. 10, trip via India, redelivery China, at USD 50,000 daily, while M/V «Fu Hua,» 72,437 dwt, built 1997, delivery China Feb. 27 – Mar. 2 trip via Australia, redelivery Far East, was fixed at USD 39,250 daily. – In Atlantic, TMT has fixed M/V «Nord Sun,» 76,834 dwt, built 2004, delivery UK Feb. 22-24, trip via Argentina, redelivery Thailand, at USD 43,800 daily, while Sealink has fixed M/V «Cse Fortune Express,» 76,634 dwt, built 2002, delivery end Feb. Turkey, trip via Brazil, redelivery China, at USD 43,000 daily. – On smaller sizes, HMM has fixed M/V «Power Ranger,» 45,950 dwt, built 1996, delivery China end Feb., for 11-13 months’ trading at USD 29,750 daily. – On ore cargoes, Neu has fixed M/V «Lowlands Longevity» for 150,000 tons of cargo, loading S. Africa Mar. 15-25, discharging UK, at USD 23.75 per ton with 7 days all purposes.