ECONOMY

Shipping Report

TANKERS Market remains quiet in all areas and sizes. – Modern Aframaxes in the Mediterranean are now fixed at W/S 140, while North Sea market with no latest fixtures is expected to be around W/S 130. – Caribs is quiet too, with latest fixtures for the 70,000-ton cargoes at W/S 130. – Suezmaxes are also in the same path irrespective of areas. The 135,000-ton cargoes are fixed at W/S 120, while the 130,000-ton cargoes out of West Africa are fixed at similar numbers. The limited activity is expected to pressure rates lower than those before. – On 100,000-ton cargoes Lukoil has fixed M/T «Sea Bravery,» loading April 18 Baltic, discharging UKC, at W/S 240. – In Caribs, Conoco has fixed M/T «Aegean Freedom» for 70,000 tons of cargo, loading April 16 East Coast Mexico, discharging US Gulf, at W/S 130. – In West Africa, Cass has fixed alliance tonnage for 130,000 tons of cargo, loading April 28, discharging UKC-Mediterranean, at W/S 122.5. – In Arabian Gulf, Shell for 270,000 tons of cargo, loading April 30, discharging Far East – US Gulf – UKC, has fixed M/T «Eliz Maersk» at W/S 85 – W/S 77.5 and W/S 80 respectively. DRY CARGO Capesize rates in the Atlantic remain very strong, with round-trip voyages for large modern vessels in the mid-USD 80,000 daily, while for trips to China they are nearly USD 100,000. – Elcano has fixed M/V «Tian Bao Hai,» 175,000 dwt, built 2004, delivery April 18 Koper, for a trip via Brazil, redelivery UKC, at USD 85,000 daily, while Mosk has fixed M/V «Brillian Arc,» 177,643 dwt, built 2002, delivery Amsterdam April 15, redelivery Far East, close to USD 100,000 daily. – The late quiet days for Panamaxes seem to be persisting although the Atlantic market is expected to react due to the very strong Capesize market. – In the Far East, Transfield has fixed M/V «Alpha Melody,» 74,374 dwt, built 2002, delivery April 18 China, redelivery UKC, at USD 30,000 daily. – In the Atlantic, Transgrain has fixed M/V «Big Wave,» 69,346 dwt, built 1989, delivery April 10-20 Brazil, redelivery Far East, at USD 42,500 daily and USD 850,000 ballast bonus. – On smaller sizes, Glencore has fixed M/V «Seagate,» 28,836 dwt, built 1989, delivery Passero mid-April, trip via Black Sea, redelivery Tunisia, at USD 23,750 daily.