ECONOMY

Shipping Report

TANKERS N. Sea market was tested yesterday, with Murphy having fixed M/T «R. Knutsen» for 80,000 tons of cargo, loading May 24, discharging UKC, at W/S 140. – Med. busier, with a number of cargoes within May 23-28 loading window. Rates still at W/S 145. – Petroplus has fixed M/T «Fucsia» for 80,000 tons of cargo, loading May 25-26, discharging Med., at W/S 145, while Petrogal for same cargo, loading May 25 Libya, discharging Portugal, has fixed M/T «Mandelo» at W/S 142.5. – Caribs quiet with less fresh inquiry. On 50,000-tonners, Hess has fixed M/T «Four Moon» at W/S 205. – The Suezmax market out of W. Africa is interesting, with rates taking a jump to W/S 120 due to limited supply of tonnage. – N. Sea expected to go after W. Africa’s market. – In the Med., Chevtex has fixed M/T «Aegean Lady» for 135,000 tons of cargo, loading May 25, discharging UKC/Med., at W/S 115. – On VLCCs out of Arabian Gulf, Shell for 260,000 tons of cargo, loading June 3, discharging Philippines, has fixed M/T «Verona» at W/S 107.5. DRY CARGO Rates have eased for Capers in both areas. Atlantic market has been particularly slow in terms of ships being fixed, but due to fresh cargoes in the market, tonnage is generally tight. – In the East, voyage rates have dipped to USD 40,000 daily but with a touch of more activity. – It’s a difficult market for Panamaxes too, with the bearish warning that the market is set to fall further. – In the Atlantic, the pace has slowed, with the market suffering from fronthaul business. – On Handies, Toepfer has fixed M/V «Tolmi,» 27,476 dwt, built 1980, delivery Argentina, redelivery Spain, at USD 19,000 daily and USD 200,000 ballast bonus, while PCL, delivery Indonesia, trip via Australia, redelivery Far East, has fixed at USD 18,000 daily. – On Panamax in Far East, Noble has fixed M/V «Great Ambition,» 73,725 dwt, built 1999, delivery May 15-19 China, redelivery Philippines, at USD 30,000 daily. – In Atlantic, Sinochart has fixed M/V «Pistis,» 75,631 dwt, built 1984, delivery Spain mid-May, trip via Venezuela, redelivery Italy, at USD 34,000 daily. – On smaller sizes, IVS has fixed M/V «Aristeas P,» 38,600 dwt, built 1985, delivery S. Africa May 14-19, redelivery US Gulf, at USD 22,000 daily. – On coal cargoes, AEP for 160,000 tons of cargo, loading S. Africa June 15-30, discharging Hunterston, has fixed M/V «Xing Wang Hai» at USD 14.25 per ton with two-day load and 50,000 tons discharge, option Rotterdam and Immingham, at USD 14.65 per ton with 25,000 tons discharge.