ECONOMY

Shipping Report

TANKERS The market is quiet due to Golden Week in the Far East and a bank holiday in the United Kingdom. – The Panamax market in the Mediterranean is still at around W/S 200, while 80,000-ton cargoes in the North Sea are being fixed at W/S 145. – Caribs steady, with Citgo having fixed M/T «Genmar Agamemnon» for 70,000 tons of cargo, loading mid-May Venezuela, discharging US Gulf, at W/S 162.5, while Valero has fixed AET tonnage for same cargo, loading May 9, discharging US Gulf, at same levels. – Suezmaxes quiet out of West Africa, with the latest fixtures around W/S 115. – VLCCs out of Arabian Gulf quite active but still at comparatively low rates. – In the Med., Repsol for 80,000 tons of cargo, loading May 11 Libya, discharging Spain, has fixed M/T «Good Hope» at W/S 177.5. – In the Cont., Navion has fixed M/T «Astro Saturn» for 80,000 tons of cargo, loading May 12 North Sea, discharging UKC-Med., at W/S 132.5. – In Arabian Gulf, Shell has fixed M/T «Iran Najm» for 280,000 tons of cargo, loading May 26, discharging UKC, at W/S 77.5. DRY CARGO The Caper market is still on a downward trend, having lost 115 points last Friday, totaling 4,844. – On Panamaxes, it’s clear that the market has found a level of persistence with strong numbers in the East and the Atlantic. The fall has flushed out more charterers, with several once again expressing interest in taking on tonnage on period charter. – In the East, the rates for round-trip voyages were cut to around the mid-USD 20,000 daily range, but there is already talk that levels are now at or about USD 30,000 daily. – In the Atlantic, Panamax rates for trips to the East are now at over USD 40,000 daily for the run to the East, having dipped to the mid-upper USD 30,000 daily. – On Panamaxes in Far East, Kline has fixed M/V «Maritime Kapar,» 74,222 dwt, built 2002, delivery Japan May 8-10, trip via East Coast Australia, at USD 27,000 daily. – In the Atlantic, Mol Navix has fixed M/V «Amazon,» 74,910 dwt, built 2001, delivery Passero May 10-12, trip via USAC, redelivery Japan, at USD 37,600 daily. – On smaller sizes, Cargill has fixed M/V «Axios,» 47,240 dwt, built 1997, delivery beg. May Japan, redelivery Far East, at USD 24,000 daily. – On coal cargoes, Coeclerici has fixed M/V «Gina Iuliano» for 120,000 tons of cargo, loading South Africa end May, discharging Rotterdam, at USD 14.90 per ton with two-day load and 25,000 tons discharge.