ECONOMY

Shipping Report

TANKERS The market remains quiet, with VLCCs from Arabian Gulf to Far East at W/S 100. – Stasco has fixed M/T «Iran Daylam» for 265,000 tons of cargo, loading May 11, discharging Far East, at W/S 100. – West Africa on Suezmaxes is at around W/S 120 for transatlantic voyages and is expected to remain so. – North Sea is at similar levels with destination USA, while in the Med. rates are moving sideways around the W/S 140 mark. – Ag/East about W/S 150 while Ag/West market is still quiet with latest fixtures at W/S 120. – Aframaxes are holding in the Cont., with BP having fixed M/T «Baltic Sea» for 80,000 tons of cargo, loading April 28, discharging UKC, at W/S 140. – In the Med., Minco for 80,000 tons of cargo, loading April 27 Russia, discharging UKC/Med., has fixed M/T «Merbabu» at W/S 122.5. – In the Cont., BP for 80,000 tons of cargo, loading April 28, discharging UKC, has fixed M/T «Baltic Sea» at W/S 140. – In Caribs, Ursa has fixed M/T «Genmar Gabriel» for 70,000 tons of cargo, loading April 29, discharging US Gulf, at W/S 122.5. – In West Africa, Emerald for 130,000 tons of cargo, loading May 6, discharging USAC, has fixed M/T «Voyager» at W/S 120. DRY CARGO Capers are with more cargoes in the East, with their particular index at the start of the week moving upward by 77 points to 5,463. – Nippon Steel in the area has fixed M/V «China Fortune,» 152,011 dwt, built 1992, delivery Hong Kong April 26-30, trip via W. Australia, redelivery Japan, at USD 58,000 daily. – The slow start continues for Panamaxes, with the focus remaining on S. American crops. Brazilian soyabean crop has been cut to 50.5 million tons due to dry season in Rio Grande do sul. Freight rates, however, remain unchanged, with round voyages around USD 40,000 daily and low USD 50,000 for the trips to the East. – On Panamax in Far East, MC Trans has fixed M/T «Oak Star,» 73,740 dwt, built 1997, delivery Japan end April, trip via Australia, at USD 38,000 daily. – In the Atlantic, Noble has fixed M/V «Royal Ocean,» 70,677 dwt, built 1995, delivery Skaw April 28-30, trip via Ventspils, redelivery China, at USD 54,000 daily. – On T/C periods, Cobelfret has fixed M/V «Anna,» 75,592 dwt, built 1999, delivery Taranto end April, for 70/100 days at USD 51,500 daily. – On smaller sizes, Energy has fixed M/V «Angelina the Great N,» 40,763 dwt, built 1986, delivery US Gulf end April, redelivery East Med., at USD 37,500 daily.