ECONOMY

Shipping Report

TANKERS Aframax market in the Med. is firming, with the latest fixtures for 80,000 tons out of the Black Sea at W/S 180. – Minerva has fixed at abovesaid levels, with no other details known, while OMV has fixed M/T «Hellas Warrior» for 80,000 tons of cargo, loading May 15 Egypt, discharging Italy, at W/S 175. – Cont. market stable and at W/S 145 for same-sized cargoes, despite the BP fixture of M/T «Iran Amol,» loading East Coast UK, discharging UKC, at W/S 132.5. – In Caribs, the 70,000-ton cargo liftings are being fixed at ABT W/S 152.5. SPI has fixed M/T «Genmar Ajax» for 70,000 tons of cargo, loading May 17, discharging USAC, at W/S 155. – Suezmaxes with very little activity out of W. Africa. Rates are weaker than last fixed. Sun has fixed M/T «Venetia» for 130,000 tons of cargo, loading May 26, discharging USAC, at W/S 107.5. – N.Sea remains low and rates are expected to fall below W/S 110, while Med. with very little activity too. – On VLCCs, rates are still low with CPC having fixed M/T «A. Elephant» for 255,000 tons of cargo, loading May 18, discharging Taiwan, at W/S 73.75. – In the Med., Exxon Mobil for 80,000 tons of cargo, loading mid-May for round-trip voyage, has fixed Minerva tonnage at W/S 130. – In W. Africa, Chevtex has fixed Alliance tonnage for 130,000 tons of cargo, loading May 19, discharging US Gulf, at W/S 112.5. DRY CARGO Very little activity for Capesize tonnage, with owners suggesting that charterers are keeping cargoes back from the market, as they wait for rates to fall. – On Panamaxes too, rates have been slashed in the Atlantic with the short round-trip voyages less than USD 30,000 daily. Cargill has fixed M/V «Constantinos A,» 71,550 dwt, built 1995, delivery Netherlands end April via Brazil, redelivery Spain, at USD 29,000 daily. – Rates in the East a little more than mid USD 20,000 daily for round-trip voyages and at the upper end, USD 20,000 daily for short haul business. – Hanjin has fixed M/V «Angelic Power,» 74,764 dwt, built 2002, delivery China May 3-8, redelivery Japan, at USD 29,000 daily. – Handymax rates have also eased worldwide. In the Atlantic, a 45,000 dwt, tonner delivery US Gulf, redelivery UKC, was fixed at USD 35,000 daily. – On Capers, Cargill has fixed M/V «Rubin Grace,» 166,939 dwt, built 1995, delivery Passero May 1-2, trip via Colombia, redelivery UKC, at USD 65,000 daily. – In Atlantic, Baumarine has fixed M/V «Linda Oldendorff,» 75,275 dwt, built 1995, delivery Gibraltar beg. May, trip via Kamsar and Black Sea, redelivery Turkey, at USD 29,000 daily. – On smaller sizes, Fayette has fixed M/V «Thor Captain,» 25,082 dwt, built 1983, delivery beg. May Algeria, trip via Black Sea, redelivery Syria, at USD 25,000 daily. – On coal cargoes, Ilva for 110,000 tons of cargo, loading Australia May 15-24, discharging Italy, has fixed M/V «Atlas» at USD 22.75 per ton with 40,000-ton load and 30,000 tons discharge.