ECONOMY

Shipping Report

TANKERS A very quiet day, with rates easing in all areas. – In the Mediterranean, the 80,000-ton cargoes are being fixed at W/S 240, while in the North Sea, with the market not tested, rates are expected to be around W/S 140. – The 100,000-ton cargos out of the Baltic are being fixed at W/S 245. – In Caribs also, the rates have dropped significantly, with the latest fixtures at W/S 180 for 70,000-ton cargoes. – Suezmaxes in the Mediterranean are being fixed around W/S 145, while in West Africa, the 130,000-ton cargoes with destination USAC are being fixed at W/S 130. – VLCCs out of the same area are being fixed at W/S 127.5 with destinations west and W/S 87.5 with destinations east. – Out of Arabian Gulf, S. Oil for 265,000 tons of cargo, loading April 24, discharging South Korea, has fixed M/T «Leo Glory» at W/S 82.5. – In the Mediterranean and on Aframaxes, Saras has fixed M/T «Framura» for 80,000 tons of cargo, loading April 8 Libya, discharging Italy, at W/S 240. – On Suezmaxes, Exxonmobil for 135,000 tons of cargo, loading April 17 Egypt, discharging Mediterranean, has fixed M/T «Sea Racer» at W/S 142.5. – In the Cont., Clearlake for 100,000 tons of cargo, loading April 12 Baltic, discharging UKC, has fixed M/T «Sparto» at W/S 245. – In Caribs, Conoco has fixed M/T «Genmar Revenge» for 70,000 tons of cargo, loading April 8, discharging USAC, at W/S 180. – In West Africa, Itochu for 130,000 tons of cargo, loading April 27, discharging US Gulf – UKC/Med., has fixed M/T «Da Yuan Hu» at W/S 135 – W/S 140 respectively. DRY CARGO Capesize market in the Atlantic appears more active, with M/V «Ocean Ceres» being linked with SK Shipping for a round-trip voyage at a stronger USD 70,000 daily, while Cobelfret has relet M/V «An Angel Dynasty,» 171,101 dwt, built 1999, for a coal round-trip voyage at USD 68,500 daily. – On Panamaxes, there is more inquiry in the East but also enough tonnage to match the inquiry. – Dreyfus has fixed M/V «Conrad Oldendorff,» 76,623 dwt, built 2002, delivery Japan April 4-6, for 4-6 months’ trading at USD 38,500 daily. – In the Atlantic, very little fresh activity, with some tonnage now in ballast for known loading areas. – Cobelfret has fixed M/V «Star of Nippon,» 75,611 dwt, built 2004, delivery France April 1-3, trip via Poland, redelivery UK, at USD 42,500 daily. – On smaller sizes, Harrisons Hamburg fixed M/V «Athinoula,» 42,842 dwt, built 1985, delivery beg. April Turkey, trip via Arabian Gulf, redelivery Muscat, at USD 32,000 daily.