ECONOMY

Shipping Report

TANKERS The Cont. market is very depressed with rates near W/S 110 for cross-trading cargoes. Exxonmobil has fixed Lundqvist tonnage for 80,000 tons of cargo, loading April 12 UK, discharging UKC, at W/S 111. – Med. seems stable thanks to Minerva tonnage keeping levels at W/S 120 for loadings out of the Black Sea. – Caribs firmer due to an increased demand in Aframaxes for lightering purposes. Westport has fixed M/T «Molda,» loading April 13, discharging US Gulf, at W/S 175. – On 50,000-ton cargoes, TTMI has fixed M/T «Bro Stella,» loading April 3 Venezuela, discharging US Gulf, at W/S 250. – Suezmaxes are stable and at W/S 100 out of W. Africa irrespective of destinations. – In the Med., API for 80,000 tons of cargo, loading April 14 Libya, discharging Med., has fixed Agip tonnage at W/S 110. – In the Cont., Exxonmobil has fixed M/T «Kuban» for 80,000 tons of cargo, loading April 13 East Coast UK, discharging UKC, at W/S 110. – In Caribs, Westport has fixed M/T «Molda» for 70,000 tons of cargo, loading April 13, discharging US Gulf, at W/S 175. DRY CARGO Rates remain strong for Panamaxes in nearly all areas. Atlantic period rates are nudging the mid-USD 15,000 daily range for 7-9 months’ trading, while in the East ships for 4-6 months are negotiating at mid USD 14,000. – Capers’ rates are returning, especially in the Atlantic. Mol Navix has on subs M/V «Euro Trader,» 164,303 dwt, built 1996, delivery April 16-23 FOS for a trip to the East at USD 30,000 daily. – In the East, Pioneer has fixed M/V «Ata» for 180,000 tons of ore, loading April 10-20 Australia, discharging China at USD 7.10 per ton. – Handy/Handymaxes rates strong. A super Handymax was said to be asking USD 22,000 daily for a trip from the US Gulf to the East. – On Panamax in Far East, Mitsubishi has fixed M/V «CSE Harmony Express,» 76,634 dwt, built 2002, delivery April 10-15 Japan, trip via East Australia, at USD 13,250 daily. – In Atlantic, Noble has fixed M/V «Disco Volante,» 69,011 dwt, built 1983, delivery Argentine April 15-20, redelivery Far East, at USD 14,800 daily and USD 415,000 ballast bonus. – On smaller sizes, Bunge has fixed M/V «Eleni M,» 52,450 dwt, built 1982, delivery Gibraltar beg. April on a trip via Argentina, redelivery Med., at USD 11,000 daily.