ECONOMY

Shipping Report

TANKERS Not much trading in the N. Sea, with rates out of the Baltic at W/S 140-145 for 80,000-ton cargoes. – Med. even quieter, with modern fixings out of the Black Sea at W/S 200 and for normal cross Med. trips at W/S 180-185. – Caribs also quieter with marginal inquiry. The 70,000-ton cargo liftings are being fixed at W/S 170-175 for USAC destinations and W/S 180-185 for the US Gulf. – A substantial drop in Suezmaxes out of W. Africa. Rates for 130,000-ton cargoes, irrespective of destination, are at W/S 100. – In the Med., Karran for 80,000 tons of cargo, loading May 16 Novorossisk, discharging UKC/Med., has fixed M/T «Framura» at W/S 200. – In the Cont., Europetr has fixed M/T «Tropic Brilliance» for 100,000 tons of cargo, loading May 20 Baltic, discharging UKC at W/S 230. – In Caribs, Adam for 70,000 tons of cargo, loading May 9 Venezuela, discharging US Gulf, has fixed AET tonnage at W/S 195. – In W. Africa, Hess has fixed M/T «Nisyros» for 130,000 tons of cargo, loading May 24, discharging St Croix at W/S 100. – In Arabian Gulf, Exxonmobil for 270,000 tons of cargo, loading May 22, discharging Far East, has fixed M/T «Artois» at W/S 52.5. DRY CARGO Market gradually returning to normal after the Easter holiday. – Rates remain firm for all sizes and areas. – On Panamaxes in Far East, Cobelfret has fixed M/V «Dione,» 75,172 dwt, built 2001, delivery Hong Kong May 8-15 for 5-7 month period at USD 15,100 daily. – In Atlantic, Pan Ocean has fixed M/V «Ariana,» 69,041 dwt, built 1984, delivery Belgium May 7-10, redelivery China at USD 19,900 daily. – On smaller sizes, WBC has fixed M/V «Aristea M,» 45,584 dwt, built 1997, delivery mid-May Taiwan for 3-5 month period at USD 11,900 daily. – On coal cargoes, NCSC has fixed M/V «Ocean Vanguard» for 180,000 tons of cargo, loading S. Africa June 1-5, discharging Israel at USD 10.95 per ton with two-day load and 30,000 tons discharge.