ECONOMY

Shipping Report

TANKERS Extremely quiet in the Med., with Aframax market rates moving sharply downward. – OMV has fixed M/T «Trident Hope» for 80,000 tons of cargo, loading Libya May 1-2, at W/S 100, while Shell for same cargo, loading April 28 Algeria, discharging Med., has fixed M/T «Paula Maersk» at W/S 103.75. – In the Cont., the majority of the cargoes are coming out of the Baltic, with rates holding around W/S 150. Europet has fixed M/T «Nordic Torinita,» loading April 29, discharging UKC, at W/S 170 (replacement), while Petroval has fixed M/T «Moscow» for 100,000 tons of cargo, loading May 4, discharging UKC, at W/S 145. – Caribs stable, with Valero having fixed M/T «Pink Sands» for 70,000 tons of cargo, loading April 21 East Coast Mexico, discharging US Gulf at W/S 118.5, while on smaller sizes, Ursa for 50,000 tons of cargo, loading April 28, discharging USAC, has fixed M/T «Cleliamar» at W/S 325. – The VLCC rates out of Arabian Gulf have eased, with CPC having fixed M/T «Kaimon» for 257,000 tons of cargo, loading May 11, discharging Taiwan, at W/S 89.5. – Suezmaxes almost steady in the Med., with Petraco having fixed M/T «Aegean Lady» for 140,000 tons of cargo, loading May 5, discharging UKC/Med., at W/S 142.5, while in W. Africa, Exxonmobil for 130,000 tons of cargo, discharging Med., has fixed M/T «Super Lady» at W/S 110. – In the Med., Petroplus for 80,000 tons of cargo, loading May 2 Egypt, discharging Med., has fixed Teekay tonnage at W/S 110. – In W. Africa, BP for 130,000 tons of cargo, loading May 17, discharging US Gulf, has fixed M/T «Genmar Kestrel» at W/S 117.5. – In Arabian Gulf, S. Oil for 270,000 tons of cargo, loading May 8, discharging S. Korea, has fixed M/T «Iran Harsin» at W/S 99. DRY CARGO The market remains active in the East on Capers. Shinwa has fixed M/V «Katerina V,» 171,061 dwt, built 2004, delivery April 25-30 Korea, trip via Australia, redelivery Japan, at USD 65,000 daily. – Cosco in the same area has fixed M/V «Faneromeni,» 149,212 dwt, built 1989, delivery May 1-8 China, trip via Australia, at USD 54,000 daily. – The Panamax rates are stable, with charterers appearing to have tempered their interest for period tonnage, sensing a further fall in rates. – A handful of fresh cargoes were quoted but brokers are talking of a significant volume of early tonnage in all areas. – Bottiglieri has fixed M/V «Tai Prize,» 73,000 dwt, built 2001, delivery May 1-10 Japan, for 10-12 months’ trading, at USD 39,000 daily, while in the Atlantic, Grant has fixed M/V «Chang Ho,» 80,416 dwt, built 2000, delivery end April Amsterdam, for 2-3 legs, redelivery UKC/Med., at USD 52,000 daily. – On smaller sizes, Tasman Orient Lines has fixed M/V «Margret Oldendorff,» 24,190 dwt, built 1992, delivery end April Far East, for three years’ trading at USD 14,500 daily. – On coal cargoes, CMC has fixed SK shipping tonnage for 150,000 tons of cargo, loading Colombia end May, discharging Denmark, at USD 18.50 per ton with a 50,000-ton load and 25,000 tons discharge.