Shipping Report

TANKERS Rates in N. Sea gradually creeping up, especially for cargoes with end March loading. Dow has fixed Navion tonnage loading March 20 UK, discharging UKC at W/S 115, while Suezmax Navion has fixed a front vessel with destination US Gulf at W/S 70. – Med. at steady levels with modern Aframax at W/S 120-125. However, M/T «Panaghia Armata» succeeded and with Tamoil for a prompt cargo W/S 130. – Caribs stable at W/S 102.5 for 70,000-ton cargo liftings, while W. Africa for Suezmax appears to be weakening with Petrogal having fixed M/T «Nisyros» at W/S 69.5 and Sun trying to discount further for 130,000 tons cargo with April 4-5 loadings with destination USAC. – In the Med., Naftex for 80,000 tons of cargo loading March 20 Russia, discharging Med., has fixed M/T «Star II» at W/S 102.5. – In the Continent, Exxon for 80,000 tons of cargo loading March 16 UK, discharging UKC, has fixed M/T «Alfa Germania» at W/S 110. – In Caribs, Premcor has fixed M/T «Bornes» for 70,000 tons of cargo loading March 16 East Coast Mexico, discharging US Gulf, at W/S 102.5. DRY CARGO In the Capers section, owners are facing a significant stall on freights and this particular index. – Panamax in the East are still buoyant with Coeclerici having fixed the 2000-built 75,000 dwt M/V «Spartia,» delivery China March 13-20 for 2 laden legs back to the Atlantic at USD 7,500 daily. – In the Atlantic, there is still demand for short T/C periods with M/V «Leda» 75,000 dwt, built 2001, being taken for 7-9 months trading at USD 9,150 daily. – Tweendeck activity remains slow and uneventful. – On Panamax in Far East, Pan Ocean has fixed M/V «Maria Bottiglieri» 75,460 dwt, built 1995, delivery Japan end March, redelivery Far East at USD 7,500 daily. – In Atlantic, M/V «Cosmic Fortune» 74,043 dwt, built 1998, delivery US Gulf March 15-20, redelivery Passero, has fixed at USD 8,500 daily and USD 160,000 ballast bonus.

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