ECONOMY

Shipping Report

TANKERS The Aframax market in the Med. is easier while the N. Sea has stable vessels inquiry. – Caribs almost steady, with the last fixtures of 70,000-ton round-voyages at W/S 122.5. – Suezmax market remains low in the N. Sea, with Stasco having fixed M/T «Minerva Symphony» for 135,000 tons of cargo, loading May 8 UK, discharging Rotterdam, at W/S 140. – In the Med., market fairly slow with May cargoes attractive at more than five offers. Rates are around W/S 130 while those for W. Africa are holding at W/S 120s. Hess for 130,000 tons of cargo, loading May 26, discharging Caribs, has fixed M/T «Genmar Gulf» at W/S 122.5. – VLCCs slightly firmer but rates remain steady, with Valero having fixed M/T «La Madrina» for 275,000 tons of cargo, loading May 12, discharging US Gulf-ECC, at W/S 78.75-W/S 81.25 respectively. – In the Med., OMV for 80,000 tons of cargo, loading May 1, discharging Italy, has fixed M/T «Trident Hope» at W/S 100. – In Caribs, Emerald, for 70,000 tons of cargo, loading May 1, discharging US Gulf, has fixed M/T «Corcovado» at W/S 122.5. DRY CARGO The Caper market is firmer in the Atlantic, with several ships having been fixed though details were not disclosed. There has been more activity for transatlantic runs and some of the early tonnage has now been absorbed with the volume now described as thin. – In the Atlantic, Mol Navix has fixed M/V «Lowlands Beilun,» 170,162 dwt, built 1999, delivery Portugal May 13-14, trip via Brazil, redelivery Japan, at USD 85,000 daily while on transatlantic voyages, Kleimar has fixed M/V «Anangel Eternity,» 161,587 dwt, built 1993, delivery UKC May 1-5, at USD 65,000 daily. – The Atlantic market is quieter for Panamaxes, with some grain houses with relet tonnage wanting trips to the East appearing ready to accept lower rates. – Rates in the East are slipping, with signs of the early ships willing to concede much lower levels. There was talk that NYK booked the Norden relet M/V «Anangel Omonia,» 73,519 dwt, built 1996, for a North China/Japan run at a weaker USD 33,000 daily with Kwangyang delivery. – Chokang has fixed M/V «Le Shan Hai,» 65,000 dwt, built 1992, delivery Korea, trip via Australia, at USD 31,000 daily. – On T/C periods, Norden has fixed M/V «Double Fortune,» 69,118 dwt, built 1997, delivery Japan May 8-9, for 3-5 month period at USD 39,500 daily. – In Atlantic, Pan Ocean has fixed M/V «Alianthos,» 65,850 dwt, built 1989, delivery Egypt end-April, trip via Jordan, redelivery China, at USD 45,000 daily. – On smaller sizes, IVS has fixed M/V «Nats Emperor,» 37,916 dwt, built 1987, delivery India end-April, trip via S. Africa, redelivery Med., at USD 23,000 daily.