ECONOMY

Shipping Report

TANKERS Stable conditions for Aframaxes in Med. / Cont. and States. – Suezmax rates are firming with rates at W/S 140-145 in the Med., while in Cont. ATMI has fixed M/T «Front Glory» for 135,000 tons of cargo loading April 25 UK, discharging US Gulf, at W/S 140. – W. Africa for early dates is moving to watch levels of W/S 130. Sun has fixed M/T «Genmar Macedon» for 130,000 tons of Argo, loading May 3, discharging USAC, at W/S 125, while Exxon has fixed M/T «Minerva Nounou,» loading May 11-12, at W/S 132.5. – In the Med., Rinex for 80,000 tons of cargo, loading April 24 Russia, discharging Med., has fixed M/T «Panagia Armata» at W/S 150. – In the Cont., Petroplus has fixed Lundqvist tonnage for 80,000 tons of cargo, loading April 28 UK, discharging Belgium, at W/S 142.5. – In Caribs, Valero for 70,000 tons of cargo, loading April 30, discharging US Gulf, has fixed M/T «Harmony» at W/S 257.5. – In W. Africa, Addax for 130,000-ton cargo loading May 10, discharging USAC, has fixed M/T «Genmar Prometeus» at W/S 125. DRY CARGO Trading appears to be slowing due to Easter holidays. Rates however, remain strong for all sizes. – On Capers, M/V «Lowlands Glory,» 173,000 dwt, built 2002, with delivery Korea May 17-19 for 5-7 month period, was fixed at USD 25,250 daily. – On Panamaxes, Pan Ocean has fixed M/V «Rio Verde,» 69,562 dwt, built 1994, delivery Passero April 16-20, trip via Brazil, redelivery Far East, at USD 21,000 daily. – In the East, several vessels are fixed and rates continue to strengthen. Demand for period inquiry remains strong. The delays in Chinese ports are keeping ships off the market for a longer period than anticipated. – Navios has fixed M/V «Marijeannie,» 74,410 dwt, built 2001, delivery Thailand May 3-8 for 4-6 month period, at USD 15,750 daily. – In the Atlantic, Bocimar has fixed M/V «Alexandra I,» 69,090 dwt, built 1994, delivery Italy April 20-28, trip via NC S. America, redelivery Spain, at USD 18,000 daily. – On smaller sizes, Bunge has fixed M/V «Nikos N,» 41,093 dwt, built 1984, delivery Brazil end-April, trip via Argentina, redelivery Med., at USD 10,800 daily and USD 275,000 ballast bonus.