ECONOMY

Shipping Report

TANKERS Steady rates for VLCCs out of the Arabian Gulf, with latest fixtures still at W/S 90-92.5 with destination East. – Zhenrong for 257,000 tons of cargo, loading April 27, discharging China, has fixed M/T «Tinos» at W/S 90. – Suezmax rates remain firm in most areas. – Rates out of Black Sea still at W/S 230-235, while normal cross Med. cargoes at W/S 210. – In W. Africa, rates also remain firm, with the latest fixtures hovering around W/S 170. Reliance with destination India has fixed M/T «Genmar Transport» at W/S 165. – Aframax market in the Med. is stable, with an increased number of fixtures, while Cont. remains quiet. – Tamoil for 80,000 tons of cargo loading 12 April Libya, discharging Italy, has fixed M/T «Livia» at W/S 205, while in the Cont., Sibneft for same cargo, loading April 15, discharging UKC, has fixed M/T «Petrovsk» at W/S 135. – Caribs with lesser inquiry, with Chevtex having fixed Genmar tonnage for 70,000 tons of cargo, loading April 13 East Coast Mexico, discharging US Gulf, at W/S 205. – In Caribs, Adam has fixed M/T «Cape Avila» for 70,000 tons of cargo, loading April 7 Venezuela, discharging USAC, at W/S 245. – In the Arabian Gulf, Zhenrong has fixed M/T «Tinos» for 257,000 tons of cargo, loading April 27, discharging China, at W/S 90. DRY CARGO Capesize market has rates that are largely unexciting in most areas. One broker described it as «tired.» – On long T/C, Employment IVS has fixed newbuilding «Anangel Innovation,» 172,220 dwt, for 10 years’ trading at USD 26,500 daily. – On Panamaxes, Atlantic rates are holding steady. Front-haul rates continue to hover around the low mid-USD 50,000 daily for trips to the East and in the very low USD 40,000 daily for quick round voyages. – Period rates have slipped, and this seems to have attracted one or two players to the market. – In the East, both single trips and period rates have eased, with this market still in a gap for the moment. – On Panamax in Far East, Nyk has fixed M/V «Marichristina,» 74,410 dwt, built 2001, delivery Taiwan April 7-8, redelivery Japan, at USD 37,500 daily. – In Atlantic, Coeclerici has fixed M/V «Kookaburra,» 76,507 dwt, built 2000, delivery UK 4-5 April, trip via Maracaibo, redelivery Cont., at USD 40,500 daily. – On smaller sizes, Mol Navix has fixed M/V «Oluja,» 42,584 dwt, built 1996, delivery China beg. April, trip via India, redelivery Japan, at USD 25,000 daily. – On coal cargoes, NCSC has fixed Cargill tonnage for 150,000 tons of cargo, loading May 1-15 Richards Bay, discharging Israel, at USD 19.25 per ton with 2 days’ load and 30,000 tons discharge.