ECONOMY

Shipping Report

TANKERS Stable rates on VLCCs out of Arabian Gulf with more fixtures. Rates are hovering above W/S 105 with destinations East. – Zhenrong has fixed M/T «Suva» for 270,000 tons of cargo, loading April 28, discharging China, at W/S 105; Hyundai for same cargo, loading May 8, discharging S. Korea, has fixed M/T «Iran Harsin» at same levels. – Weaker conditions on Suezmaxes in all areas. – In the Med., Exxonmobil for 135,000 tons of cargo, loading April 23 Egypt, discharging Med., has fixed M/T «Besiktas» at W/S 185, while in W. Africa Sun has fixed M/T «Genmar Spartiate» for 130,000 tons of cargo, loading May 3, discharging USAC, at W/S 155. – The picture is similar for Aframaxes in all areas. In the Med., Erg has fixed M/T «Kaluga» for 80,000 tons of cargo, loading April 20 Libya, discharging Italy, at W/S 135, while in N. Sea Lukoil for 100,000 tons of cargo, loading April 15, discharging UKC, has fixed M/T «Bravery» at W/S 150. – In Caribs, Stusco for 70,000 tons of cargo, loading Mexico April 15-17, discharging US Gulf, has fixed Teekay tonnage at W/S 145. – In the Med., Samir has fixed M/T «Seascout» for 80,000 tons of cargo, loading April 23 Egypt, discharging Morocco, at W/S 160. DRY CARGO Far East rates on Panamaxes are volatile despite the increased number of fixtures. Rates for round-trip voyages in the area are hovering around USD 35,000 daily. – In the Atlantic, trading is sluggish with very little fresh business being reported. Rates are generally steady, but it remains a difficult market to be assessed due to the coming Easter holidays. – Caper rates are even weaker, with spot voyage agreeing for coal cargo Richards Bay/Rotterdam at USD 17.50 per ton, while the Tubarao/Beilun ore cargoes are fixed at USD 34.00. – On Panamaxes and on T/C period fixtures, Perseveranza has fixed M/V «Great Glory,» 73,251 dwt, built 1997, delivery Pasero mid-April, for 11-13 months’ trading at USD 43,000 daily. – On Panamax in Far East, Cargill has fixed M/V «Guinomar Bastion,» 74,193 dwt, built 2001, delivery Japan April 5-25, for a 4-6 month period at USD 43,000 daily. – In Atlantic, Pan Ocean has fixed M/V «National Star,» 73,751 dwt, built 1997, delivery Passero April 5-7, trip via Brazil, redelivery Far East, at USD 52,000 daily. – On smaller sizes, IVS has fixed M/V «Panormos,» 37,636 dwt, built 1984, delivery S. Africa April 18-20, redelivery UKC, at USD 32,000 daily. – On grain cargoes, Lorico has fixed M/V «Mihalis P» for 50,000 tons of cargo, loading US Gulf April 15-25, discharging Aqaba, at USD 66.50 per ton with 10,000-ton load and 6,000-ton discharge.