ECONOMY

Shipping Report

TANKERS Quiet conditions at the start of the week as Great Britain celebrates another bank holiday. – In the Med., modern Aframaxes are being fixed around W/S 200, while the Cont. is at W/S 120 and falling. – Caribs with marginal inquiry, with the latest fixtures for 70,000-ton cargo liftings at W/S 170. – Suezmax market also very weak with a buildup of tonnage for orders out of W. Africa. Rates remain around W/S 110 for Atlantic destinations. – In the Med., the 135,000-ton cargoes are being fixed at W/S 130 with only limited new orders being quoted. – In the Med., BP has fixed M/T «Caithness» for 80,000 tons of cargo, loading May 17 Libya, discharging UKC/Med. at W/S 185. – In the Cont., Exxon for 80,000 tons of cargo, loading May 11 EC/UK, discharging UKC, has fixed Lundqvist tonnage at W/S 127.5. – In Caribs, Adam has fixed AET tonnage for 70,000 tons of cargo, loading May 9 Venezuela, discharging US Gulf at W/S 195. – In W. Africa CSSA for 130,000 tons of cargo, loading May 22, discharging UKC, has fixed M/T «Tito Tapias» at W/S 120. DRY CARGO Rates for Capers remain firm in all areas with also good demand on T/C periods. Oak has fixed M/V «Marvellous,» 169,150 dwt, built 2000, delivery May 25-27 Rotterdam for 1/1 years trading at USD 21,500 daily. – On Panamaxes, market remains positive in the Atlantic as well as in the Far East. Single voyages and periodic rates remain very strong. – In Far East, Coeclerici has fixed M/V «Ernst Salamon,» 74,002 dwt, built 1999, delivery Taiwan May 10-11 for 4-6 months period at USD 15,250 daily, while in the Atlantic, Augustea has fixed M/V «Louise Oldendorff,» 72,873 dwt, built 1994, delivery Italy May 5-10 for 5-7 month period at USD 18,750 daily. – Handymaxes still enjoying very high freight levels. There was talk of a 1986-built 39,000-dwt tonner accepting a bit of USD 16,000 daily for a trip from the Cont. to Far East. – IMT has fixed M/V «Muirfield,» 37,568 dwt, built 1985, delivery beg. May, W. Africa, redelivery Black Sea at USD 13,000 daily. – WBC has fixed M/V «Aristea M,» 45,584 dwt, built 1997, delivery Taiwan beg. May for 3-5 month period at USD 11,900 daily.