ECONOMY

Shipping Report

TANKERS Steady conditions in the Mediterranean and Cont., with the 80,000-ton cargoes at W/S 165-170 and W/S 135-140 respectively. – In Caribs rates are firmer, with a number of 70,000-ton cargoes having been fixed at W/S 165. – Marathon has fixed M/T «Phoenix Alpha» for 70,000 tons of cargo, loading April 23 East Coast Mexico, discharging US Gulf, at W/S 165, while Stusco for same cargo, loading April 22 with same destination, has fixed M/T «Barents Sea» at same levels. – Suezmax rates in the Mediterranean are steady at W/S 120, with a similar picture in West Africa. Rates are steady at W/S 105 for US Gulf discharge. After an active start the market has gone quiet. – VLCCs from the North Sea are at W/S 87.5 with destination East Coast Canada, while cargoes from West Africa to the States are fixed at similar levels. – West Africa-East are at about W/S 82.5, while out of Arabian Gulf with destination US Gulf cargoes are fixed at W/S 73. – In the Arabian Gulf, Vela has fixed M/T «Titan Glory» for 290,000 tons of cargo, loading May 1, discharging US Gulf, at W/S 73, while same charterers for the same voyage have fixed M/T «Younara Glory» at same levels. – In the Cont., Irving for 135,000 tons of cargo, loading April 29 UK, discharging Canada, has fixed M/T «Oliver Jacob» at W/S 125. DRY CARGO The Capesize market is quiet, with little fresh news in the Atlantic. – Brokers are reporting that a small number of vessels are on subs in the Pacific. M/V «Captain Veniamis,» 171,448 dwt, built 2001, is fixed by BHP for an Australian round-trip at USD 65,000 daily, while BHP has also fixed M/V «Pergamos,» 182,212 dwt, built 1986, delivery Philippines April 15-23, for an Australia voyage at USD 67,000 daily. – Atlantic on Panamaxes started the week in a firm tone, although it became quieter with early vessels not finding easy employment. – M/V «Geeview,» 73,500 dwt, built 2005, delivery mid-April Passero, for two legs, redelivery Far East, was fixed at USD 48,500 daily. – In Far East, Lino has fixed M/V «Asia Graeca,» 73,990 dwt, built 2004, delivery April 13-17 Thailand, trip via Indonesia, redelivery Japan, at USD 28,000 daily. – On smaller sizes, M/V «Coral Ranger,» 43,246 dwt, built 1994, delivery West Africa April 13-16, trip via Argentina, redelivery East Coast South Africa, was fixed at USD 32,000 daily.