ECONOMY

Shipping Report

TANKERS A very quiet start after the Easter holidays. – In the Med., the lowest rates so far achieved on double-hull ships is that of ENI and the M/T «Kanata Spirit,» which was fixed to load April 18 Egypt, discharging Italy, at W/S 115. – The picture is similar in the N. Sea, with the latest 80,000-ton round-trip voyages at W/S 130, while in Caribs, Atmi has fixed M/T «British Oak» for 70,000 tons of cargo, loading April 18, discharging US Gulf, at W/S 120. – Nothing interesting to be reported on Suezmaxes. – In W. Africa, Sun has fixed M/T «Genmar Alta» for 130,000 tons of cargo, loading May 11, discharging USAC, at W/S 127.5, while Petrobras has fixed M/T «Nikator» for same cargo, loading May 5, discharging Brazil, at W/S 120. – On VLCCs out of Arabian Gulf, Unipec for 260,000 tons of cargo, loading May 3, discharging China, has fixed M/T «Iran Nesa» at W/S 109. DRY CARGO Capesize rates remain under pressure, especially in the Far East. – M/V «Alina,» 179,802 dwt, built 1986, was fixed by Chinese charterers for delivery mid-April China, trip via Australia, at USD 43,500 daily, while NCL has fixed M/V «Mercurian Virgo,» 150,149 dwt, built 1991, delivery Indonesia end April, for same trip at USD 46,000 daily. – Panamaxes with more inquiry in the Atlantic area. Several ships have been fixed, with some owners also waiting to fix their vessels after the Easter holidays on expectation of firmer rates. Wilmar has fixed M/V «Orsolina Bottiglieri,» 75,800 dwt, built 2001, delivery Germany April 15, trip via East Coast S. America, redelivery China, at USD 52,750 daily, while in Far East, Mol Navix has fixed M/V «Top Vigour,» 73,941 dwt, built 1999, delivery April 14-16, trip via Australia, redelivery Japan, at USD 37,000 daily. On smaller sizes, M/V «Alaska Rainbow,» 22,782 dwt, built 1985, delivery Black Sea April 20-22, redelivery USAC, was fixed at USD 18,500 daily. On coal cargoes, Salzgitter for 120,000 tons of cargo, loading May 1-15 Australia, discharging Germany, has fixed M/V «Ullswater» at USD 32,00 per ton with 45,000-ton load and 20,000 tons discharge.