ECONOMY

Shipping Report

TANKERS Higher rates for Aframaxes in the Med., due to extra inquiry, mainly out of Black Sea, and delays in some discharging ports (Trieste). – Latest rates for 80,000-ton cargoes are at W/S 170; in Cont. the same-size vessels are being fixed at W/S 145. – In the N. Sea too, 100,000-ton cargoes out of the Baltic are being fixed at W/S 220, while the same-size cargoes out of Murmansk are being fixed at W/S 150. – Caribs remains quiet, with 70,000-ton cargo liftings being fixed at W/S 145. – Suezmaxes firmer in the Med., with 140,000-ton cargoes out of Black Sea at W/S 120, while rates in W. Africa have rebounded to W/S 107.5 for USAC discharge. – VLCCs out of the Arabian Gulf at W/S 90. Hyundai has fixed M/T «Nile» for 270,000 tons of cargo, loading May 3, discharging S. Korea, at abovesaid levels. – In the Med., Eni for 80,000 tons of cargo, loading April 20 Egypt, discharging Italy, has fixed M/T «Framura» at W/S 155. – In the N. Sea, Navion has fixed M/T «Natura» for 80,000 tons of cargo, loading April 17 Denmark, discharging Sweden, at W/S 137.5. – In Caribs, Valero for 70,000 tons of cargo, loading April 17 East Coast Mexico, discharging US Gulf, has fixed M/T «Kamari» at W/S 145. – In W. Africa, Stasco for 130,000 tons of cargo, loading April 29, discharging US Gulf, has fixed alliance tonnage at W/S 105. DRY CARGO Capesize market in the East is looking firmer. M/V «New Forest,» 185,688 dwt, built 1996, was fixed for a China round-trip at USD 70,000 daily. – Period rates also have moved upward, with Cetragpa booking M/V «Lowlands Beilun,» 170,162 dwt, built 1999, delivery June – July for five years’ trading at USD 37,500 daily. – On Panamaxes, several ships have been fixed in the Atlantic. In some cases with just a hint of firmer levels. Cargill has split a Capesize cargo into two Panamaxes. – In the East, brokers say rates have bottomed out. Latest rates for round-trip voyages at less than USD 30,000 daily. – However, a number of vessels are now on subs and others are ballasting to load from S. America. – On Handy/Handymaxes, Atlantic remains firm, with most business out of S. America and the Cont. – In Far East, Uming has fixed M/V «Great Intelligence,» 74,293 dwt, built 2000, delivery China April 14-15, trip via Indonesia, redelivery Taiwan, at USD 29,000 daily. – In Atlantic, Argoship has fixed M/V «Medi Roma,» 74,255 dwt, built 2001, delivery Belgium mid-April, trip via Baltic, redelivery India, at USD 45,000 daily. – On smaller sizes, Benemar has fixed M/V «Thanos,» 41,427 dwt, built 1983, delivery India end April, redelivery China, at USD 27,500 daily.