ECONOMY

Shipping Report

TANKERS Market remains quiet in all areas. – In the Mediterranean, rates seem to have bottomed out at W/S 160. – Hess has fixed TK tonnage for 90,000 tons of cargo, loading April 18 Algeria, discharging New York, at W/S 150, while Tamoil for 80,000 tons of cargo, loading April 12 Libya, discharging Italy, has fixed M/T «Framura» at W/S 187.5. – In the North Sea the market is not tested on the 80,000-ton cargoes, while on the 100,000-ton cargoes the prevailing rates are at W/S 240. – Ursa has fixed M/T «Delta Voyager» for 100,000 tons of cargo, loading April 20 Primorsk, discharging UKC, at W/S 242.5, while on Suezmaxes Clearlake for 130,000 tons of cargo, loading April 13 Baltic, discharging US Gulf, has fixed M/T «Georgios» at W/S 135. – Caribs is even quieter, with latest fixtures of 70,000-ton round voyages at W/S 130. – Stusco has fixed M/T «Genmar Agamemnon» for 70,000 tons of cargo, loading April 12 East Coast Mexico, discharging US Gulf, at W/S 132.5, while Premcor for same cargo, loading April 12 and with same destination, has fixed Teekay tonnage at W/S 135. – Suezmax rates in West Africa have dropped further, with the 130,000-ton cargoes with destination USAC having been fixed at W/S 125. – VLCC rates remain steady out of the same area and at W/S 110 for double with destination Cont. East rates continue to slide on weakened alternatives. – Out of Arabian Gulf, Exxonmobil for 260,000 tons of cargo, loading April 27, discharging Japan, has fixed M/T «Koho I» at W/S 80. DRY CARGO There is still period activity on Capers, mainly due to Japanese interests. – Kline has fixed M/V «Arethousa,» 171,799 dwt, built 1999, delivery September and for 3 years’ trading, at USD 47,000 – 47,500 daily. – Capesize rates in the Atlantic remain strong for early tonnage. M/V «Giuseppe Lembo,» 172,632 dwt, built 1998, delivery Passero for a trip redelivery Far East, was fixed at USD 95,000 daily. – Panamaxes remain slow in all areas. Round-trip voyages in Far East are still paying USD 30,000 daily. – Cargill has fixed M/V «Konstantinos A,» 71,550 dwt, built 1995, delivery Japan, for a Pacific round at USD 30,500 daily. – In Atlantic, Cobelfret has fixed M/V «Torm Marlene,» 69,637 dwt, built 1997, delivery Passero April 3-5, for two legs at USD 38,000 daily.